Hallmark Capital Management Inc. lifted its position in Apple Inc. (NASDAQ:AAPL) by 1.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 160,422 shares of the iPhone maker’s stock after purchasing an additional 2,799 shares during the quarter. Apple accounts for approximately 3.1% of Hallmark Capital Management Inc.’s holdings, making the stock its biggest holding. Hallmark Capital Management Inc.’s holdings in Apple were worth $24,725,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. MCF Advisors LLC increased its stake in Apple by 2.6% during the 3rd quarter. MCF Advisors LLC now owns 13,369 shares of the iPhone maker’s stock worth $2,060,000 after purchasing an additional 335 shares in the last quarter. Ramsay Stattman Vela & Price Inc. grew its stake in shares of Apple by 3.3% during the 3rd quarter. Ramsay Stattman Vela & Price Inc. now owns 52,013 shares of the iPhone maker’s stock worth $8,016,000 after acquiring an additional 1,668 shares in the last quarter. Investment House LLC grew its stake in shares of Apple by 0.4% during the 3rd quarter. Investment House LLC now owns 275,439 shares of the iPhone maker’s stock worth $42,451,000 after acquiring an additional 1,084 shares in the last quarter. Community Bank N.A. grew its stake in shares of Apple by 1.1% during the 3rd quarter. Community Bank N.A. now owns 103,294 shares of the iPhone maker’s stock worth $15,920,000 after acquiring an additional 1,106 shares in the last quarter. Finally, Wright Investors Service Inc. grew its stake in shares of Apple by 2.4% during the 3rd quarter. Wright Investors Service Inc. now owns 60,852 shares of the iPhone maker’s stock worth $9,379,000 after acquiring an additional 1,421 shares in the last quarter. Institutional investors and hedge funds own 60.18% of the company’s stock.
Several equities research analysts have recently commented on AAPL shares. Citigroup reissued a “buy” rating and issued a $200.00 price objective on shares of Apple in a report on Wednesday, December 13th. Drexel Hamilton reaffirmed a “buy” rating and set a $208.00 price target on shares of Apple in a report on Tuesday, October 24th. Bank of America downgraded Apple from a “buy” rating to a “neutral” rating and raised their price target for the company from $180.00 to $220.00 in a report on Wednesday, January 17th. Piper Jaffray Companies reissued a “buy” rating and set a $200.00 target price (up previously from $196.00) on shares of Apple in a report on Tuesday, October 31st. Finally, Cascend Securities lifted their target price on Apple from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Monday, January 29th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirty-four have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $201.64.
Apple Inc. (NASDAQ AAPL) traded up $3.03 during midday trading on Wednesday, reaching $167.37. The company’s stock had a trading volume of 39,669,178 shares, compared to its average volume of 40,150,000. Apple Inc. has a 1-year low of $133.25 and a 1-year high of $180.10. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74. The stock has a market cap of $849,240.00, a PE ratio of 16.38, a P/E/G ratio of 1.23 and a beta of 1.33.
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, topping 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 business had revenue of $88.29 billion during the quarter, compared to analysts’ expectations of $87.62 billion. During the same quarter last year, the business posted $3.36 EPS. The business’s revenue was up 12.7% on a year-over-year basis. equities analysts forecast that Apple Inc. will post 11.4 EPS for the current year.
The company also recently announced 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. 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 presently 24.66%.
In other news, insider Daniel J. Riccio sold 15,641 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $174.78, for a total value of $2,733,733.98. Following the completion of the transaction, the insider now owns 13,739 shares in the company, valued at approximately $2,401,302.42. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Eduardo H. Cue sold 65,361 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $171.60, for a total value of $11,215,947.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 112,771 shares of company stock valued at $19,419,429. 0.06% of the stock is currently owned by company insiders.
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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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