Lowe Brockenbrough & Co. Inc. reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 130,871 shares of the iPhone maker’s stock after selling 309 shares during the quarter. Apple comprises approximately 3.0% of Lowe Brockenbrough & Co. Inc.’s holdings, making the stock its 2nd largest holding. Lowe Brockenbrough & Co. Inc.’s holdings in Apple were worth $18,848,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of AAPL. Hefty Wealth Partners lifted its position in Apple by 27.6% in the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after buying an additional 174 shares during the last quarter. American Beacon Advisors Inc. bought a new stake in Apple in the first quarter worth $117,000. State of Alaska Department of Revenue bought a new stake in Apple in the second quarter worth $149,000. D. Scott Neal Inc. lifted its position in Apple by 19.8% in the second quarter. D. Scott Neal Inc. now owns 1,212 shares of the iPhone maker’s stock worth $175,000 after buying an additional 200 shares during the last quarter. Finally, Advocacy Wealth Management Services LLC lifted its position in Apple by 4.0% in the second quarter. Advocacy Wealth Management Services LLC now owns 1,337 shares of the iPhone maker’s stock worth $193,000 after buying an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 60.38% of the company’s stock.
In other Apple news, insider Angela J. Ahrendts sold 63,388 shares of the firm’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $154.21, for a total transaction of $9,775,063.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 268,623 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $160.63, for a total value of $43,148,912.49. The disclosure for this sale can be found here. Insiders have sold 411,389 shares of company stock valued at $65,364,467 in the last three months. 0.08% of the stock is currently owned by company insiders.
Apple Inc. (AAPL) opened at $174.67 on Monday. Apple Inc. has a one year low of $104.08 and a one year high of $176.24. The firm has a market capitalization of $896,810.25, a P/E ratio of 18.99, a P/E/G ratio of 1.40 and a beta of 1.23. The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.73.
Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.20. The firm had revenue of $52.58 billion during the quarter, compared to the consensus estimate of $50.71 billion. Apple had a return on equity of 36.29% and a net margin of 21.09%. Apple’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period last year, the business posted $1.50 EPS. equities analysts predict that Apple Inc. will post 11.15 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Monday, November 13th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.44%. The ex-dividend date is Friday, November 10th. Apple’s payout ratio is 27.39%.
A number of analysts recently issued reports on the company. Vetr upgraded Apple from a “buy” rating to a “strong-buy” rating and set a $173.06 price target for the company in a research report on Friday, September 22nd. Rosenblatt Securities restated a “hold” rating and issued a $150.00 price target on shares of Apple in a research report on Sunday, October 15th. Citigroup Inc. restated a “buy” rating and issued a $200.00 price target (up from $170.00) on shares of Apple in a research report on Friday, November 3rd. They noted that the move was a valuation call. Bank of America Corporation restated a “buy” rating and issued a $180.00 price target on shares of Apple in a research report on Tuesday, September 26th. Finally, Pacific Crest upgraded Apple from a “sector weight” rating to an “overweight” rating and set a $187.00 price target for the company in a research report on Monday, October 16th. Seven equities research analysts have rated the stock with a hold rating and forty-six have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $199.14.
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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