Redpoint Investment Management Pty Ltd reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 3.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 355,662 shares of the iPhone maker’s stock after selling 13,048 shares during the quarter. Apple comprises 4.1% of Redpoint Investment Management Pty Ltd’s investment portfolio, making the stock its largest position. Redpoint Investment Management Pty Ltd’s holdings in Apple were worth $80,287,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Gibraltar Capital Management Inc. raised its stake in Apple by 0.4% during the third quarter. Gibraltar Capital Management Inc. now owns 59,517 shares of the iPhone maker’s stock valued at $13,435,000 after buying an additional 235 shares during the last quarter. West Chester Capital Advisors Inc. raised its stake in Apple by 1.5% during the third quarter. West Chester Capital Advisors Inc. now owns 15,824 shares of the iPhone maker’s stock valued at $3,572,000 after buying an additional 236 shares during the last quarter. Ironwood Financial llc raised its stake in Apple by 9.5% during the third quarter. Ironwood Financial llc now owns 2,775 shares of the iPhone maker’s stock valued at $626,000 after buying an additional 241 shares during the last quarter. Capital Investment Services of America Inc. raised its stake in Apple by 10.0% during the third quarter. Capital Investment Services of America Inc. now owns 2,703 shares of the iPhone maker’s stock valued at $610,000 after buying an additional 245 shares during the last quarter. Finally, Anderson Hoagland & Co. raised its stake in Apple by 1.3% during the third quarter. Anderson Hoagland & Co. now owns 19,900 shares of the iPhone maker’s stock valued at $4,551,000 after buying an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 56.59% of the company’s stock.
In related news, Director Arthur D. Levinson sold 1,521 shares of Apple stock in a transaction on Friday, February 1st. The stock was sold at an average price of $167.71, for a total value of $255,086.91. Following the completion of the sale, the director now owns 1,134,804 shares of the company’s stock, valued at $190,317,978.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.05% of the company’s stock.
Shares of AAPL opened at $174.52 on Thursday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.30 and a quick ratio of 1.25. Apple Inc. has a one year low of $142.00 and a one year high of $233.47. The firm has a market capitalization of $850.17 billion, a P/E ratio of 14.65, a PEG ratio of 1.77 and a beta of 1.13.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, January 29th. The iPhone maker reported $4.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.17 by $0.01. Apple had a return on equity of 50.92% and a net margin of 22.72%. The company had revenue of $84.31 billion during the quarter, compared to analyst estimates of $84.07 billion. Equities research analysts predict that Apple Inc. will post 11.39 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 14th. Investors of record on Monday, February 11th were issued a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend was Friday, February 8th. Apple’s payout ratio is currently 24.52%.
Several research analysts have recently weighed in on AAPL shares. ValuEngine cut Apple from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. BidaskClub cut Apple from a “buy” rating to a “hold” rating in a research note on Tuesday, November 13th. BTIG Research decreased their price target on Apple from $197.00 to $189.00 and set a “buy” rating for the company in a research note on Wednesday, January 30th. Maxim Group decreased their price target on Apple from $212.00 to $160.00 and set a “hold” rating for the company in a research note on Thursday, January 3rd. They noted that the move was a valuation call. Finally, Nomura decreased their price target on Apple from $175.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, January 30th. One equities research analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and twenty-one have assigned a buy rating to the stock. Apple currently has a consensus rating of “Hold” and a consensus target price of $191.66.
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Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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