Portland Hill Asset Management Ltd Sells 4,435 Shares of Apple Inc. (AAPL)

Portland Hill Asset Management Ltd cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 4.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 104,648 shares of the iPhone maker’s stock after selling 4,435 shares during the quarter. Apple makes up approximately 7.7% of Portland Hill Asset Management Ltd’s holdings, making the stock its 5th biggest holding. Portland Hill Asset Management Ltd’s holdings in Apple were worth $15,071,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of AAPL. Stone House Investment Management LLC boosted its stake in shares of Apple by 0.4% during the second quarter. Stone House Investment Management LLC now owns 1,570 shares of the iPhone maker’s stock valued at $226,000 after purchasing an additional 6 shares in the last quarter. Jackson Grant Investment Advisers Inc. boosted its stake in shares of Apple by 0.3% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 5,431 shares of the iPhone maker’s stock valued at $782,000 after purchasing an additional 17 shares in the last quarter. Lenox Wealth Advisors Inc. boosted its stake in shares of Apple by 0.4% during the second quarter. Lenox Wealth Advisors Inc. now owns 4,971 shares of the iPhone maker’s stock valued at $716,000 after purchasing an additional 20 shares in the last quarter. Karp Capital Management Corp boosted its stake in shares of Apple by 1.6% during the second quarter. Karp Capital Management Corp now owns 1,427 shares of the iPhone maker’s stock valued at $206,000 after purchasing an additional 22 shares in the last quarter. Finally, Welch Investments LLC boosted its stake in shares of Apple by 1.5% during the second quarter. Welch Investments LLC now owns 1,607 shares of the iPhone maker’s stock valued at $231,000 after purchasing an additional 23 shares in the last quarter. 59.56% of the stock is currently owned by institutional investors and hedge funds.

Shares of Apple Inc. (AAPL) opened at $169.37 on Monday. Apple Inc. has a one year low of $112.31 and a one year high of $176.24. The company has a current ratio of 1.28, a quick ratio of 1.23 and a debt-to-equity ratio of 0.73. The company has a market cap of $869,600.00, a price-to-earnings ratio of 18.41, a PEG ratio of 1.36 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.87 by $0.20. Apple had a net margin of 21.09% and a return on equity of 36.29%. The business had revenue of $52.58 billion during the quarter, compared to the consensus estimate of $50.71 billion. During the same period in the previous year, the firm posted $1.50 earnings per share. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. research analysts predict that Apple Inc. will post 11.18 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Monday, November 13th were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, November 10th. This represents a $2.52 annualized dividend and a dividend yield of 1.49%. Apple’s payout ratio is currently 27.42%.

In related news, insider Eduardo H. Cue sold 65,361 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $171.60, for a total transaction of $11,215,947.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Angela J. Ahrendts sold 63,388 shares of the firm’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $154.21, for a total transaction of $9,775,063.48. The disclosure for this sale can be found here. Insiders have sold 217,326 shares of company stock valued at $35,290,561 over the last quarter. Insiders own 0.08% of the company’s stock.

A number of equities analysts have recently issued reports on AAPL shares. Cleveland Research upgraded shares of Apple from a “neutral” rating to a “buy” rating and set a $197.00 price objective on the stock in a research note on Tuesday, August 29th. Drexel Hamilton reiterated a “buy” rating and set a $208.00 price objective on shares of Apple in a research note on Tuesday, October 24th. Piper Jaffray Companies reiterated a “buy” rating and set a $200.00 price objective (up from $196.00) on shares of Apple in a research note on Tuesday, October 31st. Barclays set a $146.00 price objective on shares of Apple and gave the company a “neutral” rating in a research note on Wednesday, September 13th. Finally, Vetr downgraded shares of Apple from a “buy” rating to a “hold” rating and set a $171.48 price objective on the stock. in a research note on Monday, October 30th. Seven analysts have rated the stock with a hold rating, forty-five have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $200.27.

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Apple 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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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