Apple (AAPL) Position Lowered by Hall Capital Management Co. Inc.

Hall Capital Management Co. Inc. cut its holdings in shares of Apple (NASDAQ:AAPL) by 2.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,239 shares of the iPhone maker’s stock after selling 410 shares during the period. Apple makes up 2.1% of Hall Capital Management Co. Inc.’s portfolio, making the stock its 14th biggest position. Hall Capital Management Co. Inc.’s holdings in Apple were worth $2,410,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in AAPL. Truepoint Inc. lifted its holdings in Apple by 15,559.4% in the third quarter. Truepoint Inc. now owns 4,436,774 shares of the iPhone maker’s stock valued at $4,437,000 after acquiring an additional 4,408,441 shares during the period. Harding Loevner LP lifted its holdings in Apple by 784,734.3% in the third quarter. Harding Loevner LP now owns 3,296,304 shares of the iPhone maker’s stock valued at $188,966,000 after acquiring an additional 3,295,884 shares during the period. Atlantic Trust Group LLC lifted its holdings in Apple by 36.2% in the third quarter. Atlantic Trust Group LLC now owns 3,641,534 shares of the iPhone maker’s stock valued at $561,233,000 after acquiring an additional 968,385 shares during the period. DnB Asset Management AS lifted its holdings in Apple by 57.5% in the fourth quarter. DnB Asset Management AS now owns 1,591,868 shares of the iPhone maker’s stock valued at $269,392,000 after acquiring an additional 581,318 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its holdings in Apple by 3.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 19,262,302 shares of the iPhone maker’s stock valued at $3,259,868,000 after acquiring an additional 570,279 shares during the period. 58.19% of the stock is currently owned by institutional investors.

In related news, insider Angela J. Ahrendts sold 38,228 shares of the firm’s stock in a transaction that occurred on Friday, May 4th. The stock was sold at an average price of $176.54, for a total transaction of $6,748,771.12. Following the completion of the sale, the insider now directly owns 90,967 shares of the company’s stock, valued at approximately $16,059,314.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Philip W. Schiller sold 69,491 shares of the firm’s stock in a transaction that occurred on Tuesday, April 3rd. The stock was sold at an average price of $166.42, for a total value of $11,564,692.22. The disclosure for this sale can be found here. Insiders have sold a total of 237,108 shares of company stock valued at $41,663,055 over the last three months. 0.08% of the stock is owned by corporate insiders.

Shares of AAPL stock opened at $188.36 on Thursday. Apple has a 52-week low of $142.20 and a 52-week high of $190.37. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.46 and a quick ratio of 1.37. The company has a market cap of $949.65 billion, a P/E ratio of 20.45, a price-to-earnings-growth ratio of 1.39 and a beta of 1.26.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, May 1st. The iPhone maker reported $2.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.69 by $0.04. Apple had a return on equity of 39.97% and a net margin of 21.55%. The firm had revenue of $61.14 billion during the quarter, compared to analyst estimates of $60.94 billion. During the same period last year, the company earned $2.10 EPS. Apple’s quarterly revenue was up 15.6% compared to the same quarter last year. research analysts expect that Apple will post 11.43 EPS for the current year.

Apple announced that its Board of Directors has initiated a share buyback program on Tuesday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to repurchase up to 11.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 17th. Investors of record on Monday, May 14th were paid a dividend of $0.73 per share. This is a positive change from Apple’s previous quarterly dividend of $0.63. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Friday, May 11th. Apple’s dividend payout ratio (DPR) is currently 31.70%.

AAPL has been the topic of a number of recent research reports. Loop Capital reissued a “buy” rating and issued a $195.00 target price (down previously from $200.00) on shares of Apple in a report on Wednesday, January 31st. Sanford C. Bernstein set a $195.00 price objective on Apple and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Canaccord Genuity reaffirmed a “buy” rating and issued a $200.00 price objective (up previously from $195.00) on shares of Apple in a research note on Wednesday, January 24th. Macquarie set a $188.00 price objective on Apple and gave the stock a “buy” rating in a research note on Friday, January 26th. Finally, Bank of America reaffirmed a “buy” rating and issued a $220.00 price objective on shares of Apple in a research note on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating, thirty-one have assigned a buy rating and two have issued a strong buy rating to the stock. Apple currently has an average rating of “Buy” and a consensus price target of $204.74.

About Apple

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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