Crossvault Capital Management LLC Cuts Position in Apple Inc. (NASDAQ:AAPL)

Crossvault Capital Management LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 3.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 65,378 shares of the iPhone maker’s stock after selling 2,559 shares during the quarter. Apple accounts for 5.7% of Crossvault Capital Management LLC’s holdings, making the stock its biggest position. Crossvault Capital Management LLC’s holdings in Apple were worth $9,416,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AAPL. Hefty Wealth Partners lifted its holdings in Apple by 27.6% during the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock valued at $115,000 after purchasing an additional 174 shares in the last quarter. American Beacon Advisors Inc. purchased a new position in shares of Apple in the first quarter worth about $117,000. State of Alaska Department of Revenue purchased a new position in shares of Apple in the second quarter worth about $149,000. Portfolio Solutions LLC purchased a new position in shares of Apple in the first quarter worth about $169,000. Finally, D. Scott Neal Inc. lifted its stake in shares of Apple by 19.8% in the second quarter. D. Scott Neal Inc. now owns 1,212 shares of the iPhone maker’s stock worth $175,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 60.45% of the company’s stock.

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In other Apple news, insider Johny Srouji sold 5,892 shares of the firm’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $161.00, for a total value of $948,612.00. Following the completion of the sale, the insider now directly owns 70,358 shares in the company, valued at $11,327,638. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy D. Cook sold 268,623 shares of Apple stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $160.63, for a total transaction of $43,148,912.49. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 432,930 shares of company stock valued at $69,008,577. 0.08% of the stock is currently owned by company insiders.

Shares of Apple Inc. (NASDAQ:AAPL) traded up 1.01% on Friday, hitting $159.88. The stock had a trading volume of 49,114,602 shares. Apple Inc. has a 1-year low of $104.08 and a 1-year high of $164.94. The firm has a market capitalization of $825.82 billion, a price-to-earnings ratio of 18.15 and a beta of 1.27. The firm has a 50 day moving average of $158.97 and a 200-day moving average of $149.42.

Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.10. The company had revenue of $45.41 billion during the quarter, compared to analyst estimates of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. Apple’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.42 earnings per share. Equities analysts predict that Apple Inc. will post $9.01 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were issued a dividend of $0.63 per share. The ex-dividend date was Thursday, August 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.58%. Apple’s dividend payout ratio is currently 28.64%.

A number of equities analysts have commented on the stock. Oppenheimer Holdings, Inc. reaffirmed a “” rating on shares of Apple in a research note on Thursday, August 10th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $170.00 price target on shares of Apple in a research report on Monday, May 29th. Longbow Research reiterated a “buy” rating and set a $162.00 price target on shares of Apple in a research report on Wednesday, May 24th. Keefe, Bruyette & Woods set a $170.00 price objective on shares of Apple and gave the company a “buy” rating in a report on Monday, May 22nd. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $170.00 price target on shares of Apple in a research note on Tuesday, May 23rd. Eleven analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $187.63.

Apple Profile

Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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