Narwhal Capital Management Reduces Holdings in Apple Inc. (NASDAQ:AAPL)

Narwhal Capital Management decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 78,247 shares of the iPhone maker’s stock after selling 1,912 shares during the quarter. Apple accounts for about 4.2% of Narwhal Capital Management’s investment portfolio, making the stock its 3rd biggest position. Narwhal Capital Management’s holdings in Apple were worth $22,977,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the company. Orgel Wealth Management LLC increased its position in Apple by 2.6% during the 3rd quarter. Orgel Wealth Management LLC now owns 2,588 shares of the iPhone maker’s stock worth $580,000 after purchasing an additional 66 shares during the period. Toth Financial Advisory Corp increased its position in Apple by 13.0% during the 3rd quarter. Toth Financial Advisory Corp now owns 24,083 shares of the iPhone maker’s stock worth $5,394,000 after purchasing an additional 2,768 shares during the period. Verus Financial Partners Inc. increased its position in Apple by 2.6% during the 3rd quarter. Verus Financial Partners Inc. now owns 5,815 shares of the iPhone maker’s stock worth $1,302,000 after purchasing an additional 145 shares during the period. Sterling Investment Advisors Ltd. increased its position in Apple by 1.0% during the 3rd quarter. Sterling Investment Advisors Ltd. now owns 53,291 shares of the iPhone maker’s stock worth $11,936,000 after purchasing an additional 507 shares during the period. Finally, SeaCrest Wealth Management LLC increased its position in Apple by 1.7% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 118,709 shares of the iPhone maker’s stock worth $26,587,000 after purchasing an additional 1,992 shares during the period. Institutional investors own 60.28% of the company’s stock.

In related news, Director Arthur D. Levinson sold 1,429 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $304.11, for a total value of $434,573.19. Following the completion of the sale, the director now directly owns 1,134,712 shares in the company, valued at approximately $345,077,266.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.05% of the stock is currently owned by corporate insiders.

Several equities research analysts have recently commented on the company. Jefferies Financial Group boosted their price target on Apple from $285.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, January 9th. JPMorgan Chase & Co. boosted their price target on Apple from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Royal Bank of Canada boosted their price target on Apple from $330.00 to $358.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Credit Suisse Group boosted their price target on Apple to $275.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. They noted that the move was a valuation call. Finally, Tigress Financial reissued a “buy” rating on shares of Apple in a research note on Monday, December 30th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have issued a buy rating to the stock. Apple currently has a consensus rating of “Buy” and a consensus price target of $314.55.

Shares of NASDAQ AAPL opened at $324.87 on Friday. Apple Inc. has a 12-month low of $169.38 and a 12-month high of $327.85. The company 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 company has a current ratio of 1.60, a quick ratio of 1.56 and a debt-to-equity ratio of 1.04. The stock has a fifty day moving average price of $310.05 and a 200 day moving average price of $254.32.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, January 28th. The iPhone maker reported $4.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.54 by $0.45. Apple had a return on equity of 60.19% and a net margin of 21.49%. The firm had revenue of $91.80 billion during the quarter, compared to the consensus estimate of $88.41 billion. During the same period in the prior year, the firm earned $4.18 EPS. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, sell-side analysts forecast that Apple Inc. will post 13.75 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a $0.77 dividend. The ex-dividend date was Friday, February 7th. This represents a $3.08 annualized dividend and a yield of 0.95%. Apple’s dividend payout ratio is currently 25.90%.

About Apple

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.

Read More: The limitations of an equal weight rating

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply