Seaward Management Limited Partnership trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 752,648 shares of the iPhone maker’s stock after selling 15,241 shares during the quarter. Apple comprises 5.4% of Seaward Management Limited Partnership’s portfolio, making the stock its largest position. Seaward Management Limited Partnership’s holdings in Apple were worth $108,396,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in AAPL. FC Advisory LLC increased its position in shares of Apple by 0.4% during the 2nd quarter. FC Advisory LLC now owns 2,576 shares of the iPhone maker’s stock valued at $371,000 after purchasing an additional 10 shares during the period. BerganKDV Wealth Management LLC increased its position in shares of Apple by 0.4% during the 2nd quarter. BerganKDV Wealth Management LLC now owns 5,614 shares of the iPhone maker’s stock valued at $809,000 after purchasing an additional 20 shares during the period. Lenox Wealth Advisors Inc. increased its position in shares of Apple by 0.4% during the 2nd quarter. Lenox Wealth Advisors Inc. now owns 4,971 shares of the iPhone maker’s stock valued at $716,000 after purchasing an additional 20 shares during the period. Welch Investments LLC increased its position in shares of Apple by 1.5% during the 2nd quarter. Welch Investments LLC now owns 1,607 shares of the iPhone maker’s stock valued at $231,000 after purchasing an additional 23 shares during the period. Finally, Accurate Investment Solutions Inc. increased its position in shares of Apple by 0.4% during the 2nd quarter. Accurate Investment Solutions Inc. now owns 6,600 shares of the iPhone maker’s stock valued at $951,000 after purchasing an additional 26 shares during the period. Institutional investors and hedge funds own 59.56% of the company’s stock.
Apple Inc. (NASDAQ AAPL) traded down $0.63 during midday trading on Wednesday, reaching $169.01. The company’s stock had a trading volume of 28,471,518 shares, compared to its average volume of 27,269,805. Apple Inc. has a one year low of $109.16 and a one year high of $176.24. The company has a current ratio of 1.28, a quick ratio of 1.23 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $871,806.19, a price-to-earnings ratio of 18.46, a P/E/G ratio of 1.36 and a beta of 1.22.
Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.87 by $0.20. The company had revenue of $52.58 billion for the quarter, compared to analyst estimates of $50.71 billion. Apple had a return on equity of 36.29% and a net margin of 21.09%. The business’s revenue was up 12.2% compared to the same quarter last year. During the same period last year, the company earned $1.50 earnings per share. analysts forecast that Apple Inc. will post 11.18 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Monday, November 13th were paid a $0.63 dividend. The ex-dividend date was Friday, November 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.49%. Apple’s payout ratio is presently 27.39%.
Several brokerages have recently issued reports on AAPL. Vetr upgraded Apple from a “buy” rating to a “strong-buy” rating and set a $173.06 price target on the stock in a research report on Friday, September 22nd. Rosenblatt Securities reissued a “hold” rating and set a $150.00 price objective on shares of Apple in a research note on Sunday, October 15th. Citigroup reissued a “buy” rating and set a $200.00 price objective (up from $170.00) on shares of Apple in a research note on Friday, November 3rd. They noted that the move was a valuation call. UBS set a $190.00 price objective on Apple and gave the stock a “buy” rating in a research note on Monday. Finally, Bank of America reissued a “buy” rating and set a $180.00 price objective on shares of Apple in a research note on Tuesday, September 26th. Seven analysts have rated the stock with a hold rating, forty-six have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $200.27.
In related news, SVP Johny Srouji sold 5,760 shares of Apple stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $174.40, for a total transaction of $1,004,544.00. Following the sale, the senior vice president now directly owns 81,560 shares of the company’s stock, valued at $14,224,064. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Eduardo H. Cue sold 65,361 shares of Apple stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $171.60, for a total value of $11,215,947.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 217,326 shares of company stock worth $35,290,561. 0.08% of the stock is owned by company insiders.
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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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