Merriman Wealth Management LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,574 shares of the iPhone maker’s stock after selling 771 shares during the period. Apple comprises 1.3% of Merriman Wealth Management LLC’s investment portfolio, making the stock its 22nd largest position. Merriman Wealth Management LLC’s holdings in Apple were worth $5,660,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Delphi Private Advisors LLC purchased a new position in shares of Apple during the 2nd quarter valued at about $120,000. Quattro Financial Advisors LLC purchased a new position in shares of Apple during the 1st quarter valued at about $133,000. CX Institutional purchased a new position in shares of Apple during the 2nd quarter valued at about $135,000. Gainplan LLC purchased a new position in shares of Apple during the 1st quarter valued at about $200,000. Finally, Chessman Wealth Strategies RIA purchased a new position in shares of Apple during the 1st quarter valued at about $205,000. 57.14% of the stock is currently owned by institutional investors.
Shares of AAPL stock opened at $168.49 on Friday. The company has a market capitalization of $858.77 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 1.26 and a beta of 1.20. Apple Inc. has a fifty-two week low of $150.24 and a fifty-two week high of $233.47. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.09 and a current ratio of 1.12.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, November 1st. The iPhone maker reported $2.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.78 by $0.13. The firm had revenue of $62.90 billion for the quarter, compared to analyst estimates of $61.55 billion. Apple had a return on equity of 48.68% and a net margin of 22.41%. The business’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same period last year, the company earned $2.07 EPS. Research analysts forecast that Apple Inc. will post 13.32 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Monday, November 12th were given a $0.73 dividend. The ex-dividend date was Thursday, November 8th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.73%. Apple’s dividend payout ratio is currently 24.52%.
In related news, insider Chris Kondo sold 3,408 shares of Apple stock in a transaction that occurred 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 sale, the insider now directly owns 8,940 shares in the company, valued at $1,698,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Luca Maestri sold 100,245 shares of Apple stock in a transaction that occurred on Thursday, October 4th. The shares were sold at an average price of $228.56, for a total value 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 sold 204,845 shares of company stock worth $47,015,677. Corporate insiders own 0.08% of the company’s stock.
A number of brokerages recently weighed in on AAPL. ValuEngine cut Apple from a “buy” rating to a “hold” rating in a report on Wednesday, November 21st. Bank of America reaffirmed a “neutral” rating and issued a $220.00 price target on shares of Apple in a research note on Wednesday, November 21st. Nomura set a $185.00 price target on Apple and gave the stock a “neutral” rating in a research note on Wednesday, November 21st. Rosenblatt Securities set a $200.00 price target on Apple and gave the stock a “hold” rating in a research note on Wednesday, November 21st. Finally, UBS Group reaffirmed a “buy” rating and issued a $225.00 price target on shares of Apple in a research note on Tuesday, November 27th. Four investment analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and twenty-four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $219.95.
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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