Everence Capital Management Inc. trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 2.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 106,140 shares of the iPhone maker’s stock after selling 3,010 shares during the quarter. Apple accounts for 4.8% of Everence Capital Management Inc.’s portfolio, making the stock its largest position. Everence Capital Management Inc.’s holdings in Apple were worth $23,960,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pennsylvania Trust Co boosted its position in shares of Apple by 1.4% during the 2nd quarter. Pennsylvania Trust Co now owns 294,543 shares of the iPhone maker’s stock worth $54,523,000 after purchasing an additional 4,136 shares during the period. Guidant Wealth Advisors boosted its position in shares of Apple by 99.2% during the 2nd quarter. Guidant Wealth Advisors now owns 9,724 shares of the iPhone maker’s stock worth $507,000 after purchasing an additional 4,842 shares during the period. James Hambro & Partners purchased a new position in shares of Apple during the 2nd quarter worth approximately $993,000. Daiwa SB Investments Ltd. boosted its position in shares of Apple by 3.4% during the 2nd quarter. Daiwa SB Investments Ltd. now owns 27,620 shares of the iPhone maker’s stock worth $5,113,000 after purchasing an additional 900 shares during the period. Finally, Augustine Asset Management Inc. boosted its position in shares of Apple by 1.5% during the 2nd quarter. Augustine Asset Management Inc. now owns 63,812 shares of the iPhone maker’s stock worth $11,812,000 after purchasing an additional 963 shares during the period. 60.22% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:AAPL traded up $0.51 during midday trading on Tuesday, hitting $170.93. The stock had a trading volume of 18,961,429 shares, compared to its average volume of 34,669,188. The company has a market cap of $837.64 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 1.74 and a beta of 1.13. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.79. Apple Inc. has a 1 year low of $142.00 and a 1 year high of $233.47.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, January 29th. The iPhone maker reported $4.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.17 by $0.01. The business had revenue of $84.31 billion for the quarter, compared to the consensus estimate of $84.07 billion. Apple had a net margin of 22.72% and a return on equity of 50.92%. On average, research analysts forecast that Apple Inc. will post 11.39 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 14th. Investors of record on Monday, February 11th were paid a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.71%. The ex-dividend date was Friday, February 8th. Apple’s dividend payout ratio (DPR) is 24.52%.
In related news, Director Arthur D. Levinson sold 1,521 shares of the firm’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $167.71, for a total value of $255,086.91. Following the completion of the sale, the director now owns 1,134,804 shares in the company, valued at $190,317,978.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.05% of the stock is owned by company insiders.
A number of equities research analysts have issued reports on the stock. BidaskClub lowered shares of Apple from a “hold” rating to a “sell” rating in a report on Wednesday, November 28th. HSBC lowered shares of Apple from a “buy” rating to a “hold” rating and set a $181.37 target price on the stock. in a report on Sunday, December 9th. Needham & Company LLC reduced their target price on shares of Apple from $200.00 to $180.00 and set a “buy” rating on the stock in a report on Thursday, January 3rd. Sanford C. Bernstein reiterated a “neutral” rating and set a $210.00 target price on shares of Apple in a report on Friday, November 2nd. Finally, Morgan Stanley reiterated an “overweight” rating and set a $253.00 target price on shares of Apple in a report on Thursday, November 15th. One equities research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating and twenty-two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $191.66.
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Apple Company Profile
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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