Seaward Management Limited Partnership Lowers Stake in Apple Inc. (AAPL)

Seaward Management Limited Partnership decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 752,648 shares of the iPhone maker’s stock after selling 15,241 shares during the period. Apple makes up about 5.4% of Seaward Management Limited Partnership’s investment portfolio, making the stock its largest holding. Seaward Management Limited Partnership’s holdings in Apple were worth $108,396,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Benedict Financial Advisors Inc. boosted its holdings in Apple by 0.9% during the first quarter. Benedict Financial Advisors Inc. now owns 38,906 shares of the iPhone maker’s stock worth $5,589,000 after purchasing an additional 328 shares during the last quarter. iAB Financial Bank boosted its holdings in Apple by 1.8% during the first quarter. iAB Financial Bank now owns 56,947 shares of the iPhone maker’s stock worth $8,184,000 after purchasing an additional 995 shares during the last quarter. Seatown Holdings Pte. Ltd. acquired a new position in Apple during the first quarter worth $26,843,000. Sumitomo Mitsui Asset Management Company LTD boosted its holdings in Apple by 1.2% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 559,788 shares of the iPhone maker’s stock worth $80,419,000 after purchasing an additional 6,777 shares during the last quarter. Finally, Saratoga Research & Investment Management boosted its holdings in Apple by 0.6% during the first quarter. Saratoga Research & Investment Management now owns 667,132 shares of the iPhone maker’s stock worth $95,840,000 after purchasing an additional 4,137 shares during the last quarter. 59.87% of the stock is owned by institutional investors.

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AAPL has been the subject of several recent research reports. Barclays PLC restated a “hold” rating and set a $146.00 target price on shares of Apple in a report on Monday, September 4th. Royal Bank Of Canada restated an “outperform” rating and set a $180.00 target price on shares of Apple in a report on Monday, September 11th. Morgan Stanley restated an “overweight” rating and set a $194.00 target price (up previously from $182.00) on shares of Apple in a report on Tuesday, September 12th. Credit Suisse Group restated an “outperform” rating and set a $170.00 target price on shares of Apple in a report on Tuesday, July 25th. Finally, Macquarie increased their target price on shares of Apple from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. Seven investment analysts have rated the stock with a hold rating and forty-six have given a buy rating to the company’s stock. Apple presently has an average rating of “Buy” and a consensus target price of $200.24.

In other news, insider Johny Srouji sold 5,892 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $161.00, for a total transaction of $948,612.00. Following the completion of the sale, the insider now owns 70,358 shares of the company’s stock, valued at $11,327,638. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Daniel J. Riccio sold 15,641 shares of the stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $172.35, for a total value of $2,695,726.35. Following the sale, the insider now directly owns 39,682 shares of the company’s stock, valued at approximately $6,839,192.70. The disclosure for this sale can be found here. Insiders have sold 410,352 shares of company stock worth $65,356,512 over the last quarter. Company insiders own 0.08% of the company’s stock.

Apple Inc. (NASDAQ:AAPL) opened at $169.98 on Tuesday. Apple Inc. has a 52-week low of $108.25 and a 52-week high of $176.24. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 1.28. The company has a market cap of $872,730.00, a P/E ratio of 18.50, a price-to-earnings-growth ratio of 1.36 and a beta of 1.25.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.20. Apple had a net margin of 21.09% and a return on equity of 36.29%. The business had revenue of $52.58 billion for the quarter, compared to analysts’ expectations of $50.71 billion. During the same period last year, the business earned $1.50 earnings per share. The business’s quarterly revenue was up 12.2% on a year-over-year basis. equities research analysts predict that Apple Inc. will post 11.18 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, November 13th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend was Friday, November 10th. Apple’s payout ratio is currently 27.42%.

About Apple

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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