Ledyard National Bank reduced its stake in Apple Inc. (NASDAQ:AAPL) by 0.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 147,539 shares of the iPhone maker’s stock after selling 436 shares during the quarter. Apple makes up 3.8% of Ledyard National Bank’s investment portfolio, making the stock its largest holding. Ledyard National Bank’s holdings in Apple were worth $33,306,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Traynor Capital Management Inc. lifted its holdings in shares of Apple by 1.9% during the third quarter. Traynor Capital Management Inc. now owns 131,177 shares of the iPhone maker’s stock worth $29,612,000 after buying an additional 2,413 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Apple by 1.6% during the third quarter. Fisher Asset Management LLC now owns 12,349,066 shares of the iPhone maker’s stock valued at $2,787,678,000 after purchasing an additional 189,423 shares during the period. HighPoint Advisor Group LLC increased its position in shares of Apple by 1.0% during the third quarter. HighPoint Advisor Group LLC now owns 87,494 shares of the iPhone maker’s stock valued at $19,305,000 after purchasing an additional 861 shares during the period. Jentner Corp increased its position in shares of Apple by 40.6% during the third quarter. Jentner Corp now owns 1,579 shares of the iPhone maker’s stock valued at $356,000 after purchasing an additional 456 shares during the period. Finally, Accredited Investors Inc. increased its position in shares of Apple by 18.8% during the third quarter. Accredited Investors Inc. now owns 57,671 shares of the iPhone maker’s stock valued at $13,019,000 after purchasing an additional 9,121 shares during the period. Hedge funds and other institutional investors own 60.22% of the company’s stock.
In other 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 transaction, the director now directly owns 1,134,804 shares of the company’s stock, valued at $190,317,978.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Chris Kondo sold 3,408 shares of the company’s stock in a transaction on Monday, November 19th. The stock was sold at an average price of $190.00, for a total transaction of $647,520.00. Following the transaction, the insider now directly owns 8,940 shares in the company, valued at $1,698,600. The disclosure for this sale can be found here. Company insiders own 0.05% of the company’s stock.
A number of brokerages have weighed in on AAPL. UBS Group upped their price target on Apple from $180.00 to $185.00 in a research report on Wednesday, January 30th. Rosenblatt Securities set a $200.00 price target on Apple and gave the stock a “buy” rating in a research report on Monday, October 22nd. BidaskClub raised Apple from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Macquarie reaffirmed a “buy” rating and set a $235.00 price target on shares of Apple in a research report on Monday, October 29th. Finally, Bank of America reaffirmed a “buy” rating and set a $235.00 price target on shares of Apple in a research report on Monday, October 29th. One investment analyst has rated the stock with a sell rating, twenty-four have given a hold rating and twenty-two have given a buy rating to the company’s stock. Apple presently has a consensus rating of “Hold” and an average target price of $191.66.
NASDAQ AAPL traded up $0.79 during mid-day trading on Tuesday, reaching $170.22. The stock had a trading volume of 7,776,020 shares, compared to its average volume of 36,903,219. The firm has a market cap of $837.59 billion, a P/E ratio of 14.29, a PEG ratio of 1.75 and a beta of 1.13. Apple Inc. has a 1 year low of $142.00 and a 1 year high of $233.47. 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 (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, January 29th. The iPhone maker reported $4.18 EPS for the quarter, topping the consensus estimate of $4.17 by $0.01. Apple had a net margin of 22.72% and a return on equity of 50.92%. The company had revenue of $84.31 billion during the quarter, compared to analysts’ expectations of $84.07 billion. As a group, equities analysts expect that Apple Inc. will post 11.39 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 14th. Stockholders of record on Monday, February 11th will be paid a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Friday, February 8th. Apple’s dividend payout ratio (DPR) is presently 24.52%.
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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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