Advantage Investment Management LLC trimmed its position in Apple Inc. (NASDAQ:AAPL) by 3.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,718 shares of the iPhone maker’s stock after selling 1,296 shares during the quarter. Apple comprises approximately 1.8% of Advantage Investment Management LLC’s holdings, making the stock its 13th biggest position. Advantage Investment Management LLC’s holdings in Apple were worth $5,659,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Vantage Financial Partners Ltd. Inc. purchased a new stake in Apple during the 2nd quarter valued at approximately $400,000. Blue Sky Asset Management LLC purchased a new stake in Apple during the 2nd quarter valued at approximately $108,000. FNY Managed Accounts LLC grew its holdings in Apple by 852.4% during the 2nd quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock valued at $115,000 after buying an additional 716 shares in the last quarter. Armbruster Capital Management Inc. grew its holdings in Apple by 9.4% during the 2nd quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock valued at $131,000 after buying an additional 78 shares in the last quarter. Finally, Crow Point Partners LLC grew its holdings in Apple by 100.0% during the 3rd quarter. Crow Point Partners LLC now owns 1,000 shares of the iPhone maker’s stock valued at $153,000 after buying an additional 500 shares in the last quarter. 61.41% of the stock is owned by institutional investors.
In other Apple news, insider Daniel J. Riccio sold 15,641 shares of Apple stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $174.78, for a total value of $2,733,733.98. Following the transaction, the insider now owns 13,739 shares in the company, valued at $2,401,302.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is owned by insiders.
Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.82 by $0.07. Apple had a return on equity of 37.37% and a net margin of 21.13%. The company had revenue of $88.29 billion for the quarter, compared to analyst estimates of $87.62 billion. During the same quarter in the previous year, the firm earned $3.36 earnings per share. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. equities research analysts expect that Apple Inc. will post 11.43 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were paid a $0.63 dividend. The ex-dividend date of this dividend was Friday, February 9th. This represents a $2.52 annualized dividend and a yield of 1.39%. Apple’s dividend payout ratio (DPR) is presently 24.66%.
AAPL has been the subject of a number of research analyst reports. Macquarie set a $188.00 price objective on shares of Apple and gave the company a “buy” rating in a report on Friday, January 26th. ValuEngine raised shares of Apple from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Zacks Investment Research raised shares of Apple from a “hold” rating to a “buy” rating and set a $197.00 price objective for the company in a report on Thursday, January 18th. Barclays cut their price objective on shares of Apple from $174.00 to $170.00 and set an “equal weight” rating for the company in a report on Friday, February 2nd. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $200.00 price objective on shares of Apple in a report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $201.57.
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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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