United Asset Strategies Inc. cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 16.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 45,428 shares of the iPhone maker’s stock after selling 8,683 shares during the quarter. Apple makes up approximately 4.0% of United Asset Strategies Inc.’s portfolio, making the stock its 2nd biggest position. United Asset Strategies Inc.’s holdings in Apple were worth $7,001,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. Sanders Morris Harris LLC increased its holdings in shares of Apple by 6.0% in the second quarter. Sanders Morris Harris LLC now owns 18,590 shares of the iPhone maker’s stock valued at $2,677,000 after purchasing an additional 1,050 shares during the period. National Pension Service grew its holdings in Apple by 10.0% during the second quarter. National Pension Service now owns 3,914,795 shares of the iPhone maker’s stock worth $562,478,000 after acquiring an additional 356,476 shares during the period. Stonehearth Capital Management LLC grew its holdings in Apple by 1.9% in the second quarter. Stonehearth Capital Management LLC now owns 2,423 shares of the iPhone maker’s stock valued at $349,000 after purchasing an additional 45 shares during the last quarter. Hoertkorn Richard Charles grew its holdings in Apple by 1.2% in the second quarter. Hoertkorn Richard Charles now owns 45,281 shares of the iPhone maker’s stock valued at $6,521,000 after purchasing an additional 549 shares during the last quarter. Finally, Moon Capital Management LLC grew its holdings in Apple by 44.8% in the second quarter. Moon Capital Management LLC now owns 8,430 shares of the iPhone maker’s stock valued at $1,214,000 after purchasing an additional 2,610 shares during the last quarter. 60.18% of the stock is owned by institutional investors and hedge funds.
AAPL has been the topic of several research reports. Mizuho set a $160.00 target price on Apple and gave the company a “hold” rating in a report on Wednesday, October 18th. Vetr downgraded Apple from a “buy” rating to a “hold” rating and set a $178.34 price objective on the stock. in a research report on Friday, December 1st. UBS Group set a $190.00 target price on Apple and gave the stock a “buy” rating in a research report on Friday, January 5th. Needham & Company LLC increased their target price on Apple from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Finally, Morgan Stanley reiterated a “buy” rating and set a $205.00 target price (up from $200.00) on shares of Apple in a research report on Tuesday, January 23rd. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirty-three have issued a buy rating and two have given a strong buy rating to the company. Apple currently has a consensus rating of “Buy” and a consensus price target of $201.72.
Apple Inc. (NASDAQ:AAPL) traded up $1.50 during mid-day trading on Wednesday, hitting $165.84. The stock had a trading volume of 24,296,287 shares, compared to its average volume of 40,150,000. Apple Inc. has a 52 week low of $133.25 and a 52 week high of $180.10. The company has a market cap of $841,270.00, a price-to-earnings ratio of 16.23, 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 (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share for the quarter, beating the consensus estimate of $3.82 by $0.07. Apple had a return on equity of 37.37% and a net margin of 21.13%. The company had revenue of $88.29 billion for the quarter, compared to analyst estimates of $87.62 billion. During the same period in the prior year, the company posted $3.36 EPS. The company’s revenue was up 12.7% compared to the same quarter last year. research analysts expect that Apple Inc. will post 11.4 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Monday, February 12th will be paid a $0.63 dividend. The ex-dividend date is Friday, February 9th. This represents a $2.52 annualized dividend and a dividend yield of 1.52%. Apple’s dividend payout ratio is currently 24.66%.
In other news, insider Eduardo H. Cue sold 65,361 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $171.60, for a total value of $11,215,947.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Johny Srouji sold 5,760 shares of the business’s stock in a transaction that occurred on 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 $14,224,064. The disclosure for this sale can be found here. Over the last quarter, insiders sold 112,771 shares of company stock worth $19,419,429. Corporate insiders own 0.06% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “Apple Inc. (AAPL) Shares Sold by United Asset Strategies Inc.” was originally reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this article on another publication, it was illegally copied and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this article can be accessed at https://www.dispatchtribunal.com/2018/02/14/united-asset-strategies-inc-has-7-million-position-in-apple-inc-aapl.html.
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.
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.