Suffolk Capital Management LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 43.1% during the 3rd quarter, Holdings Channel reports. The fund owned 118,365 shares of the iPhone maker’s stock after selling 89,629 shares during the quarter. Apple accounts for about 2.4% of Suffolk Capital Management LLC’s investment portfolio, making the stock its 5th biggest holding. Suffolk Capital Management LLC’s holdings in Apple were worth $18,242,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Blue Sky Asset Management LLC acquired a new stake in shares of Apple in the second quarter valued at approximately $108,000. FNY Managed Accounts LLC raised its holdings in shares of Apple by 852.4% in the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock valued at $115,000 after purchasing an additional 716 shares during the last quarter. Private Vista LLC acquired a new stake in shares of Apple in the second quarter valued at approximately $122,000. Armbruster Capital Management Inc. raised its holdings in shares of Apple by 9.4% in the second quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock valued at $131,000 after purchasing an additional 78 shares during the last quarter. Finally, Crow Point Partners LLC raised its holdings in shares of Apple by 100.0% in the third quarter. Crow Point Partners LLC now owns 1,000 shares of the iPhone maker’s stock valued at $153,000 after purchasing an additional 500 shares during the last quarter. 60.18% of the stock is currently owned by institutional investors and hedge funds.
Apple Inc. (NASDAQ:AAPL) opened at $167.37 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.24. The company has a market capitalization of $849,240.00, a PE ratio of 16.38, a price-to-earnings-growth ratio of 1.23 and a beta of 1.33. Apple Inc. has a 52 week low of $133.25 and a 52 week high of $180.10.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Monday, February 12th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.51%. The ex-dividend date is Friday, February 9th. Apple’s payout ratio is 24.66%.
A number of analysts have recently issued reports on the stock. BMO Capital Markets downgraded shares of Apple from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $162.00 to $166.00 in a report on Wednesday, January 31st. Morningstar set a $170.00 price objective on shares of Apple and gave the company a “neutral” rating in a report on Friday, February 2nd. Sanford C. Bernstein set a $195.00 price objective on shares of Apple and gave the company a “buy” rating in a report on Tuesday, January 30th. William Blair reiterated an “outperform” rating on shares of Apple in a report on Friday, February 2nd. Finally, ValuEngine downgraded shares of Apple from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the company. Apple presently has an average rating of “Buy” and a consensus target price of $201.64.
In other Apple news, insider Daniel J. Riccio sold 15,641 shares of the business’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $169.69, for a total transaction of $2,654,121.29. Following the completion of the transaction, the insider now owns 17,341 shares of the company’s stock, valued at $2,942,594.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Eduardo H. Cue sold 65,361 shares of the business’s 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. In the last three months, insiders have sold 112,771 shares of company stock valued at $19,419,429. 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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