Covington Capital Management lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 0.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 202,295 shares of the iPhone maker’s stock after selling 1,355 shares during the period. Apple comprises approximately 2.4% of Covington Capital Management’s holdings, making the stock its 2nd biggest position. Covington Capital Management’s holdings in Apple were worth $29,135,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. YHB Investment Advisors Inc. raised its stake in Apple by 7.6% during the 2nd quarter. YHB Investment Advisors Inc. now owns 136,189 shares of the iPhone maker’s stock worth $19,614,000 after acquiring an additional 9,663 shares during the period. Lederer & Associates Investment Counsel CA raised its stake in Apple by 2.1% during the 2nd quarter. Lederer & Associates Investment Counsel CA now owns 37,336 shares of the iPhone maker’s stock worth $5,377,000 after acquiring an additional 779 shares during the period. Carnick & Kubik Group LLC raised its stake in Apple by 14.4% during the 2nd quarter. Carnick & Kubik Group LLC now owns 20,744 shares of the iPhone maker’s stock worth $2,987,000 after acquiring an additional 2,612 shares during the period. GenTrust LLC raised its stake in Apple by 1,022.9% during the 2nd quarter. GenTrust LLC now owns 34,315 shares of the iPhone maker’s stock worth $4,942,000 after acquiring an additional 31,259 shares during the period. Finally, Texan Capital Management raised its stake in Apple by 1.6% during the 2nd quarter. Texan Capital Management now owns 25,591 shares of the iPhone maker’s stock worth $3,686,000 after acquiring an additional 393 shares during the period. Hedge funds and other institutional investors own 59.78% of the company’s stock.
Apple Inc. (NASDAQ AAPL) opened at $171.70 on Wednesday. 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 $886,541.63, a price-to-earnings ratio of 18.77, a price-to-earnings-growth ratio of 1.38 and a beta of 1.22. Apple Inc. has a one year low of $113.75 and a one year high of $176.24.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, topping the consensus estimate of $1.87 by $0.20. The company had revenue of $52.58 billion during the quarter, compared to analyst estimates of $50.71 billion. Apple had a net margin of 21.09% and a return on equity of 36.29%. Apple’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.50 earnings per share. equities analysts anticipate that Apple Inc. will post 11.18 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, November 13th were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Friday, November 10th. Apple’s payout ratio is 27.39%.
AAPL has been the topic of a number of recent analyst reports. Drexel Hamilton restated a “buy” rating and set a $208.00 target price on shares of Apple in a research note on Thursday, August 24th. Canaccord Genuity reaffirmed a “buy” rating and set a $180.00 price objective on shares of Apple in a report on Tuesday, August 22nd. Vetr raised shares of Apple from a “hold” rating to a “buy” rating and set a $166.96 price objective for the company in a report on Thursday, August 17th. BidaskClub raised shares of Apple from a “hold” rating to a “buy” rating in a report on Wednesday, August 16th. Finally, UBS reaffirmed a “buy” rating and set a $180.00 price objective on shares of Apple in a report on Tuesday, August 29th. Seven analysts have rated the stock with a hold rating, forty-five have given a buy rating and one has issued a strong buy rating to the stock. Apple presently has a consensus rating of “Buy” and a consensus price target of $200.27.
In other Apple news, insider Angela J. Ahrendts sold 63,388 shares of Apple stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $154.21, for a total transaction of $9,775,063.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Johny Srouji sold 5,760 shares of Apple stock in a transaction on 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 transaction, the senior vice president now directly owns 81,560 shares of the company’s stock, valued at $14,224,064. The disclosure for this sale can be found here. Insiders have sold 232,967 shares of company stock valued at $37,944,683 over the last ninety days. 0.08% of the stock is owned by insiders.
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Apple Company 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.
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