State Board of Administration of Florida Retirement System cut its stake in Apple Inc. (NASDAQ:AAPL) by 0.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,553,558 shares of the iPhone maker’s stock after selling 16,653 shares during the quarter. Apple makes up approximately 3.2% of State Board of Administration of Florida Retirement System’s investment portfolio, making the stock its largest position. State Board of Administration of Florida Retirement System owned approximately 0.15% of Apple worth $1,164,154,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in AAPL. Beacon Capital Management Inc. grew its holdings in Apple by 40.1% in the 2nd quarter. Beacon Capital Management Inc. now owns 1,443 shares of the iPhone maker’s stock valued at $208,000 after buying an additional 413 shares in the last quarter. Marshwinds Advisory Co. purchased a new position in shares of Apple during the 2nd quarter worth $272,000. First Financial Bank Trust Division lifted its stake in Apple by 1.9% during the 2nd quarter. First Financial Bank Trust Division now owns 64,080 shares of the iPhone maker’s stock worth $9,228,000 after acquiring an additional 1,215 shares in the last quarter. Pennsylvania Trust Co lifted its stake in Apple by 34.7% during the 2nd quarter. Pennsylvania Trust Co now owns 314,298 shares of the iPhone maker’s stock worth $45,265,000 after acquiring an additional 80,898 shares in the last quarter. Finally, Stokes & Hubbell Capital Management LLC lifted its stake in Apple by 2.3% during the 2nd quarter. Stokes & Hubbell Capital Management LLC now owns 48,594 shares of the iPhone maker’s stock worth $6,999,000 after acquiring an additional 1,111 shares in the last quarter. 60.18% of the stock is owned by institutional investors.
In other Apple news, insider Johny Srouji sold 10,368 shares of the stock in a transaction on Friday, November 24th. The stock was sold at an average price of $174.68, for a total transaction of $1,811,082.24. Following the completion of the transaction, the insider now directly owns 81,560 shares of the company’s stock, valued at approximately $14,246,900.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Daniel J. Riccio sold 15,641 shares of the stock in a transaction on Friday, January 5th. The shares were sold at an average price of $174.78, for a total value of $2,733,733.98. Following the transaction, the insider now directly owns 13,739 shares of the company’s stock, valued at $2,401,302.42. The disclosure for this sale can be found here. Insiders sold a total of 112,771 shares of company stock valued at $19,419,429 over the last three months. Corporate insiders own 0.06% of the company’s stock.
AAPL has been the topic of a number of analyst reports. BidaskClub lowered Apple from a “hold” rating to a “sell” rating in a research report on Friday, January 26th. BMO Capital Markets lowered Apple from an “outperform” rating to a “market perform” rating and increased their price target for the company from $162.00 to $166.00 in a research report on Wednesday, January 31st. William Blair reissued an “outperform” rating on shares of Apple in a research report on Friday, February 2nd. Bank of America reissued an “outperform” rating and set a $220.00 target price on shares of Apple in a research report on Thursday, February 8th. Finally, Vetr downgraded Apple from a “buy” rating to a “hold” rating and set a $171.48 price target on the stock. in a research note on Monday, October 30th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the stock. Apple currently has a consensus rating of “Buy” and an average target price of $201.72.
Shares of Apple Inc. (NASDAQ:AAPL) opened at $164.34 on Wednesday. Apple Inc. has a one year low of $133.25 and a one year high of $180.10. The stock has a market capitalization of $825,592.75, a P/E ratio of 16.89, a price-to-earnings-growth ratio of 1.23 and a beta of 1.31. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74.
Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, February 1st. The iPhone maker reported $3.89 EPS for the quarter, beating 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 return on equity of 37.37% and a net margin of 21.13%. The business’s revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the company earned $3.36 earnings per share. equities research analysts expect that Apple Inc. will post 11.4 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Monday, February 12th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Friday, February 9th. Apple’s dividend payout ratio (DPR) is 25.90%.
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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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