Gratus Capital LLC cut its stake in Apple Inc. (NASDAQ:AAPL) by 12.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,182 shares of the iPhone maker’s stock after selling 9,855 shares during the period. Apple accounts for 1.7% of Gratus Capital LLC’s investment portfolio, making the stock its 6th largest holding. Gratus Capital LLC’s holdings in Apple were worth $11,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently made changes to their positions in the stock. Smart Portfolios LLC bought a new position in shares of Apple during the 1st quarter worth approximately $134,000. Macroview Investment Management LLC boosted its holdings in shares of Apple by 220.3% during the 1st quarter. Macroview Investment Management LLC now owns 900 shares of the iPhone maker’s stock worth $151,000 after buying an additional 619 shares in the last quarter. Litman Gregory Asset Management LLC boosted its holdings in shares of Apple by 553.8% during the 1st quarter. Litman Gregory Asset Management LLC now owns 1,033 shares of the iPhone maker’s stock worth $173,000 after buying an additional 875 shares in the last quarter. Stuart Chaussee & Associates Inc. boosted its holdings in shares of Apple by 940.8% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 1,072 shares of the iPhone maker’s stock worth $181,000 after buying an additional 969 shares in the last quarter. Finally, Delphi Private Advisors LLC boosted its holdings in shares of Apple by 8,292.9% during the 4th quarter. Delphi Private Advisors LLC now owns 1,175 shares of the iPhone maker’s stock worth $199,000 after buying an additional 1,161 shares in the last quarter. Institutional investors and hedge funds own 60.11% of the company’s stock.
A number of research firms have issued reports on AAPL. Wells Fargo & Co set a $210.00 price target on Apple and gave the stock a “neutral” rating in a report on Monday. New Street Research cut Apple from a “neutral” rating to a “sell” rating in a report on Monday. Macquarie set a $214.00 target price on Apple and gave the stock a “buy” rating in a report on Tuesday. Robert W. Baird reiterated a “buy” rating and issued a $230.00 target price on shares of Apple in a report on Monday, August 13th. Finally, BidaskClub upgraded Apple from a “hold” rating to a “buy” rating in a report on Tuesday, August 7th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $219.51.
Shares of AAPL opened at $215.46 on Tuesday. The stock has a market cap of $1,020.04 billion, a PE ratio of 23.39, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16. The company has a quick ratio of 1.24, a current ratio of 1.31 and a debt-to-equity ratio of 0.84. Apple Inc. has a 12-month low of $149.16 and a 12-month high of $219.18.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.18 by $0.16. The firm had revenue of $53.27 billion during the quarter, compared to the consensus estimate of $52.43 billion. Apple had a return on equity of 43.50% and a net margin of 21.98%. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter last year, the company posted $1.67 EPS. equities analysts forecast that Apple Inc. will post 11.68 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 16th. Stockholders of record on Monday, August 13th were given a dividend of $0.73 per share. The ex-dividend date was Friday, August 10th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.36%. Apple’s dividend payout ratio (DPR) is presently 31.70%.
Apple declared that its Board of Directors has authorized a share buyback plan on Tuesday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to repurchase up to 11.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.
In related news, insider Luca Maestri sold 4,769 shares of the firm’s stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $189.54, for a total transaction of $903,916.26. Following the transaction, the insider now directly owns 68,044 shares of the company’s stock, valued at approximately $12,897,059.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Angela J. Ahrendts sold 6,568 shares of the firm’s stock in a transaction dated Friday, June 15th. The shares were sold at an average price of $188.81, for a total value of $1,240,104.08. Following the transaction, the insider now directly owns 79,476 shares in the company, valued at $15,005,863.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 141,066 shares of company stock valued at $28,208,138. Corporate insiders own 0.06% of the company’s stock.
Apple Company Profile
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
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