Whittier Trust Co. lowered its position in Apple Inc. (NASDAQ:AAPL) by 2.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 385,815 shares of the iPhone maker’s stock after selling 9,353 shares during the period. Apple comprises approximately 2.2% of Whittier Trust Co.’s investment portfolio, making the stock its 3rd biggest position. Whittier Trust Co.’s holdings in Apple were worth $71,418,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Delphi Private Advisors LLC purchased a new stake in Apple during the 2nd quarter valued at about $120,000. Quattro Financial Advisors LLC purchased a new stake in Apple during the 1st quarter valued at about $133,000. CX Institutional purchased a new stake in Apple during the 2nd quarter valued at about $135,000. Spectrum Financial Alliance Ltd LLC purchased a new stake in Apple during the 1st quarter valued at about $138,000. Finally, Macroview Investment Management LLC grew its stake in Apple by 220.3% during the 1st quarter. Macroview Investment Management LLC now owns 900 shares of the iPhone maker’s stock valued at $151,000 after acquiring an additional 619 shares in the last quarter. Institutional investors and hedge funds own 58.44% of the company’s stock.
Several research firms have recently weighed in on AAPL. Atlantic Securities reissued a “neutral” rating and issued a $205.00 price target on shares of Apple in a research note on Wednesday, August 1st. JPMorgan Chase & Co. dropped their price target on shares of Apple from $272.00 to $270.00 and set an “overweight” rating for the company in a research note on Friday, November 2nd. Macquarie reissued a “buy” rating and issued a $222.00 price target on shares of Apple in a research note on Monday, November 5th. BidaskClub raised shares of Apple from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. Finally, BMO Capital Markets increased their price target on shares of Apple from $184.00 to $199.00 and gave the company a “market perform” rating in a research note on Wednesday, August 1st. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, twenty have given a hold rating and twenty-eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $224.27.
In other Apple news, SVP Angela J. Ahrendts sold 14,194 shares of the stock in a transaction that occurred on Friday, October 5th. The shares were sold at an average price of $227.96, for a total transaction of $3,235,664.24. Following the sale, the senior vice president now directly owns 105,538 shares in the company, valued at approximately $24,058,442.48. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Luca Maestri sold 100,245 shares of the stock in a transaction that occurred on Thursday, October 4th. The stock was sold at an average price of $228.56, for a total transaction of $22,911,997.20. Following the sale, the insider now owns 91,665 shares in the company, valued at $20,950,952.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 480,737 shares of company stock worth $107,157,170. 0.08% of the stock is owned by company insiders.
Apple stock opened at $204.47 on Friday. The company has a market cap of $1,031.93 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 1.51 and a beta of 1.26. Apple Inc. has a 52-week low of $150.24 and a 52-week high of $233.47. The company has a current ratio of 1.12, a quick ratio of 1.09 and a debt-to-equity ratio of 0.87.
Apple (NASDAQ:AAPL) last released its earnings results on Thursday, November 1st. The iPhone maker reported $2.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.78 by $0.13. The company had revenue of $62.90 billion for the quarter, compared to analyst estimates of $61.55 billion. Apple had a net margin of 22.41% and a return on equity of 48.68%. The firm’s quarterly revenue was up 19.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.07 EPS. Equities analysts expect that Apple Inc. will post 13.35 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Monday, November 12th will be issued a dividend of $0.73 per share. The ex-dividend date is Thursday, November 8th. This represents a $2.92 dividend on an annualized basis and a yield of 1.43%. Apple’s dividend payout ratio (DPR) is presently 24.52%.
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Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
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