Cypress Asset Management Inc. TX trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 6.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 108,575 shares of the iPhone maker’s stock after selling 7,374 shares during the quarter. Apple comprises 3.6% of Cypress Asset Management Inc. TX’s investment portfolio, making the stock its biggest holding. Cypress Asset Management Inc. TX’s holdings in Apple were worth $16,734,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. Ruggie Capital Group increased its position in Apple by 7.2% during the third quarter. Ruggie Capital Group now owns 5,017 shares of the iPhone maker’s stock worth $774,000 after buying an additional 336 shares in the last quarter. AE Wealth Management LLC boosted its holdings in shares of Apple by 40.5% during the third quarter. AE Wealth Management LLC now owns 61,122 shares of the iPhone maker’s stock worth $9,420,000 after purchasing an additional 17,626 shares during the last quarter. Catalyst Capital Advisors LLC boosted its holdings in shares of Apple by 57.8% during the third quarter. Catalyst Capital Advisors LLC now owns 110,337 shares of the iPhone maker’s stock worth $17,006,000 after purchasing an additional 40,437 shares during the last quarter. BW Gestao de Investimentos Ltda. boosted its holdings in Apple by 26.9% in the third quarter. BW Gestao de Investimentos Ltda. now owns 37,719 shares of the iPhone maker’s stock valued at $5,813,000 after acquiring an additional 8,000 shares during the last quarter. Finally, Stephens Inc. AR boosted its holdings in Apple by 2.5% in the third quarter. Stephens Inc. AR now owns 245,550 shares of the iPhone maker’s stock valued at $37,844,000 after acquiring an additional 5,903 shares during the last quarter. 61.41% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on AAPL shares. Vetr cut Apple from a “buy” rating to a “hold” rating and set a $178.34 target price on the stock. in a report on Friday, December 1st. UBS Group set a $190.00 price objective on Apple and gave the company a “buy” rating in a research report on Friday, January 5th. Morgan Stanley reissued a “buy” rating and issued a $205.00 price objective (up from $200.00) on shares of Apple in a research report on Tuesday, January 23rd. Sanford C. Bernstein lowered Apple from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $195.00 to $170.00 in a research report on Friday, February 2nd. Finally, HSBC set a $204.00 target price on Apple and gave the stock a “buy” rating in a research report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. Apple presently has a consensus rating of “Buy” and a consensus target price of $201.57.
Apple Inc. (NASDAQ:AAPL) traded down $1.65 during trading hours on Wednesday, reaching $178.32. 23,443,399 shares of the company traded hands, compared to its average volume of 43,250,000. The firm has a market capitalization of $904,340.00, a price-to-earnings ratio of 17.45, a PEG ratio of 1.37 and a beta of 1.22. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.24 and a quick ratio of 1.20. Apple Inc. has a 52-week low of $138.62 and a 52-week high of $183.50.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.82 by $0.07. The company had revenue of $88.29 billion during the quarter, compared to analyst estimates of $87.62 billion. Apple had a net margin of 21.13% and a return on equity of 37.37%. The company’s revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the business posted $3.36 earnings per share. equities research analysts expect that Apple Inc. will post 11.43 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend was Friday, February 9th. Apple’s payout ratio is 24.66%.
In other news, insider Daniel J. Riccio sold 15,641 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $174.78, for a total transaction of $2,733,733.98. Following the completion of the sale, the insider now owns 13,739 shares of the company’s stock, valued at $2,401,302.42. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.06% of the company’s stock.
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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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