Fairbanks Capital Management Inc. trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 84.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,659 shares of the iPhone maker’s stock after selling 73,674 shares during the period. Apple accounts for approximately 2.0% of Fairbanks Capital Management Inc.’s holdings, making the stock its 12th largest holding. Fairbanks Capital Management Inc.’s holdings in Apple were worth $2,105,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Berkshire Hathaway Inc. boosted its position in Apple by 0.6% in the 2nd quarter. Berkshire Hathaway Inc. now owns 130,191,960 shares of the iPhone maker’s stock valued at $18,750,246,000 after buying an additional 834,854 shares during the last quarter. Capital Research Global Investors boosted its position in Apple by 15.0% in the 2nd quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock valued at $4,241,383,000 after buying an additional 3,845,363 shares during the last quarter. Legal & General Group Plc boosted its position in Apple by 1.1% in the 3rd quarter. Legal & General Group Plc now owns 26,393,202 shares of the iPhone maker’s stock valued at $4,067,559,000 after buying an additional 287,027 shares during the last quarter. Janus Henderson Group PLC boosted its position in Apple by 9.3% in the 3rd quarter. Janus Henderson Group PLC now owns 21,854,159 shares of the iPhone maker’s stock valued at $3,367,571,000 after buying an additional 1,850,572 shares during the last quarter. Finally, Swiss National Bank boosted its position in Apple by 0.4% in the 3rd quarter. Swiss National Bank now owns 19,248,516 shares of the iPhone maker’s stock valued at $2,966,581,000 after buying an additional 79,100 shares during the last quarter. 61.41% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have commented on AAPL. Rosenblatt Securities set a $180.00 price objective on Apple and gave the company a “buy” rating in a research report on Wednesday, March 7th. Royal Bank of Canada reiterated a “buy” rating and issued a $205.00 price objective on shares of Apple in a research report on Friday, March 9th. BMO Capital Markets lowered Apple from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $162.00 to $166.00 in a research report on Wednesday, January 31st. Zacks Investment Research lowered Apple from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Finally, Sanford C. Bernstein set a $195.00 price target on Apple and gave the stock a “buy” rating in a research report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $201.57.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share for the quarter, topping analysts’ consensus estimates of $3.82 by $0.07. The firm had revenue of $88.29 billion for the quarter, compared to the consensus estimate 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 quarter in the previous year, the business earned $3.36 earnings per share. equities analysts forecast that Apple Inc. will post 11.43 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date was Friday, February 9th. Apple’s dividend payout ratio (DPR) is presently 24.66%.
In other Apple news, insider Daniel J. Riccio sold 15,641 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $174.78, for a total transaction of $2,733,733.98. Following the transaction, the insider now owns 13,739 shares of the company’s stock, valued at $2,401,302.42. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.06% of the stock is owned by insiders.
Apple Company Profile
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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