Lee Capital Management LP decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 4.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,126 shares of the iPhone maker’s stock after selling 874 shares during the quarter. Apple comprises approximately 2.2% of Lee Capital Management LP’s investment portfolio, making the stock its 11th largest position. Lee Capital Management LP’s holdings in Apple were worth $2,873,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in AAPL. Smart Portfolios LLC purchased a new position in Apple during the 1st quarter worth $134,000. Macroview Investment Management LLC boosted its holdings in 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 acquiring an additional 619 shares during the last quarter. Litman Gregory Asset Management LLC boosted its holdings in 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 acquiring an additional 875 shares during the last quarter. Stuart Chaussee & Associates Inc. boosted its holdings in 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 acquiring an additional 969 shares during the last quarter. Finally, Delphi Private Advisors LLC boosted its holdings in 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 acquiring an additional 1,161 shares during the last quarter. Hedge funds and other institutional investors own 58.62% of the company’s stock.
Shares of Apple stock opened at $228.36 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.31 and a debt-to-equity ratio of 0.84. The company has a market cap of $1,118.83 billion, a P/E ratio of 20.64, a price-to-earnings-growth ratio of 1.77 and a beta of 1.32. Apple Inc. has a 52 week low of $149.16 and a 52 week high of $229.18.
Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 EPS for the quarter, beating analysts’ consensus estimates of $2.18 by $0.16. The company 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 firm’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.67 earnings per share. equities analysts predict that Apple Inc. will post 11.68 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 16th. Investors of record on Monday, August 13th were issued 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 1.28%. Apple’s dividend payout ratio is presently 31.70%.
A number of equities analysts have issued reports on the stock. BidaskClub raised shares of Apple from a “buy” rating to a “strong-buy” rating in a report on Friday, August 31st. Macquarie set a $214.00 price objective on shares of Apple and gave the stock a “buy” rating in a report on Monday, August 27th. Atlantic Securities reaffirmed a “neutral” rating and set a $205.00 price objective on shares of Apple in a report on Wednesday, August 1st. HSBC set a $205.00 price objective on shares of Apple and gave the stock a “buy” rating in a report on Thursday, August 30th. Finally, Royal Bank of Canada lifted their target price on Apple to $240.00 and gave the stock an “outperform” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $222.78.
In other Apple news, CEO Timothy D. Cook sold 265,160 shares of the stock in a transaction on Monday, August 27th. The stock was sold at an average price of $217.79, for a total value of $57,749,196.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Angela J. Ahrendts sold 6,568 shares of the stock in a transaction on Friday, June 15th. The stock was sold at an average price of $188.81, for a total value of $1,240,104.08. Following the completion of the transaction, the insider now owns 79,476 shares of the company’s stock, valued at approximately $15,005,863.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 400,621 shares of company stock valued at $85,281,642. 0.06% of the stock is owned by corporate insiders.
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.
Read More: Market Capitalization
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL).
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.