Capital Advantage Inc. raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 11.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,460 shares of the iPhone maker’s stock after buying an additional 2,901 shares during the quarter. Apple comprises 1.1% of Capital Advantage Inc.’s portfolio, making the stock its 16th largest holding. Capital Advantage Inc.’s holdings in Apple were worth $4,386,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of AAPL. Blue Sky Asset Management LLC purchased a new position in shares of Apple during the second quarter worth about $108,000. FNY Managed Accounts LLC grew its holdings in shares of Apple by 852.4% during the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after purchasing an additional 716 shares in the last quarter. Private Vista LLC purchased a new position in shares of Apple during the second quarter worth about $122,000. Armbruster Capital Management Inc. grew its holdings in shares of Apple by 9.4% during the second quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock worth $131,000 after purchasing an additional 78 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in shares of Apple during the second quarter worth about $149,000. 60.18% of the stock is owned by institutional investors and hedge funds.
Shares of Apple Inc. (NASDAQ AAPL) traded up $3.03 during trading hours on Wednesday, hitting $167.37. The stock had a trading volume of 39,669,178 shares, compared to its average volume of 40,150,000. The company has a market capitalization of $849,240.00, a P/E ratio of 16.38, a P/E/G ratio of 1.23 and a beta of 1.33. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.24. Apple Inc. has a 1 year low of $133.25 and a 1 year high of $180.10.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.82 by $0.07. The firm had revenue of $88.29 billion for the quarter, compared to the consensus estimate of $87.62 billion. Apple had a return on equity of 37.37% and a net margin of 21.13%. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the company posted $3.36 earnings per share. sell-side analysts expect that Apple Inc. will post 11.4 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Monday, February 12th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Friday, February 9th. Apple’s payout ratio is currently 24.66%.
In other Apple news, insider Eduardo H. Cue sold 65,361 shares of the stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $171.60, for a total value of $11,215,947.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Johny Srouji sold 5,760 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $174.40, for a total value of $1,004,544.00. Following the completion of the transaction, the senior vice president now directly owns 81,560 shares in the company, valued at approximately $14,224,064. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 112,771 shares of company stock worth $19,419,429. Corporate insiders own 0.06% of the company’s stock.
A number of research firms recently weighed in on AAPL. BidaskClub downgraded Apple from a “hold” rating to a “sell” rating in a research report on Friday, January 26th. BMO Capital Markets downgraded Apple from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $162.00 to $166.00 in a research report on Wednesday, January 31st. William Blair restated an “outperform” rating on shares of Apple in a research report on Friday, February 2nd. Bank of America restated an “outperform” rating and issued a $220.00 target price on shares of Apple in a research report on Thursday, February 8th. Finally, Vetr downgraded Apple from a “buy” rating to a “hold” rating and set a $171.48 target price for the company. in a research report on Monday, October 30th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirty-three have issued a buy rating and two have given a strong buy rating to the stock. Apple has an average rating of “Buy” and an average target price of $201.72.
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Apple Company 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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