Cottage Street Advisors LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 18.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,874 shares of the iPhone maker’s stock after selling 5,289 shares during the quarter. Apple accounts for approximately 3.8% of Cottage Street Advisors LLC’s portfolio, making the stock its 5th largest position. Cottage Street Advisors LLC’s holdings in Apple were worth $6,717,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the business. Sage Financial Group Inc. purchased a new position in Apple during the 4th quarter worth $36,000. CXI Advisors purchased a new position in Apple during the 4th quarter worth $68,000. Kahn Brothers Group Inc. DE purchased a new position in Apple during the 3rd quarter worth $112,000. Avondale Wealth Management boosted its holdings in shares of Apple by 68.0% in the 4th quarter. Avondale Wealth Management now owns 531 shares of the iPhone maker’s stock worth $156,000 after buying an additional 215 shares during the last quarter. Finally, Fulcrum Equity Management purchased a new position in shares of Apple in the 3rd quarter worth about $135,000. Institutional investors and hedge funds own 60.28% of the company’s stock.
AAPL has been the topic of a number of research analyst reports. Piper Jaffray Companies boosted their price target on shares of Apple from $290.00 to $305.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Morgan Stanley boosted their price target on shares of Apple from $296.00 to $368.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Royal Bank of Canada boosted their price target on shares of Apple from $330.00 to $358.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Zacks Investment Research downgraded shares of Apple from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a report on Thursday, January 30th. Finally, Jefferies Financial Group boosted their price target on shares of Apple from $285.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, January 9th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $314.55.
In other news, Director Arthur D. Levinson sold 1,429 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $304.11, for a total transaction of $434,573.19. Following the completion of the sale, the director now owns 1,134,712 shares of the company’s stock, valued at $345,077,266.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.05% of the company’s stock.
Shares of AAPL opened at $324.87 on Friday. The firm has a market cap of $1,425.66 billion, a P/E ratio of 25.66, a P/E/G ratio of 2.23 and a beta of 1.29. The stock has a 50 day simple moving average of $310.05 and a two-hundred day simple moving average of $254.32. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.60 and a quick ratio of 1.56. Apple Inc. has a 1 year low of $169.38 and a 1 year high of $327.85.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, January 28th. The iPhone maker reported $4.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.54 by $0.45. The business had revenue of $91.80 billion during the quarter, compared to analyst estimates of $88.41 billion. Apple had a return on equity of 60.19% and a net margin of 21.49%. Apple’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.18 earnings per share. On average, equities analysts anticipate that Apple Inc. will post 13.75 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Friday, February 7th. Apple’s dividend payout ratio (DPR) is presently 25.90%.
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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