Tower Bridge Advisors increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 140,763 shares of the iPhone maker’s stock after buying an additional 2,455 shares during the quarter. Apple comprises approximately 2.5% of Tower Bridge Advisors’ portfolio, making the stock its 4th largest holding. Tower Bridge Advisors’ holdings in Apple were worth $21,694,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. YHB Investment Advisors Inc. boosted its holdings in shares of Apple by 7.6% during the second quarter. YHB Investment Advisors Inc. now owns 136,189 shares of the iPhone maker’s stock worth $19,614,000 after purchasing an additional 9,663 shares during the period. Lederer & Associates Investment Counsel CA boosted its holdings in shares of Apple by 2.1% during the second quarter. Lederer & Associates Investment Counsel CA now owns 37,336 shares of the iPhone maker’s stock worth $5,377,000 after purchasing an additional 779 shares during the period. Empirical Financial Services LLC boosted its holdings in shares of Apple by 23.9% during the second quarter. Empirical Financial Services LLC now owns 21,558 shares of the iPhone maker’s stock worth $3,105,000 after purchasing an additional 4,154 shares during the period. Carnick & Kubik Group LLC boosted its holdings in shares of Apple by 14.4% during the second quarter. Carnick & Kubik Group LLC now owns 20,744 shares of the iPhone maker’s stock worth $2,987,000 after purchasing an additional 2,612 shares during the period. Finally, GenTrust LLC boosted its holdings in shares of Apple by 1,022.9% during the second quarter. GenTrust LLC now owns 34,315 shares of the iPhone maker’s stock worth $4,942,000 after purchasing an additional 31,259 shares during the period. Institutional investors and hedge funds own 60.18% of the company’s stock.
Shares of Apple Inc. (NASDAQ AAPL) opened at $172.43 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.74. Apple Inc. has a fifty-two week low of $135.10 and a fifty-two week high of $180.10. The firm has a market cap of $874,912.06, a PE ratio of 17.72, a PEG ratio of 1.30 and a beta of 1.31.
Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.82 by $0.07. Apple had a net margin of 21.13% and a return on equity of 37.37%. The business had revenue of $88.29 billion for the quarter, compared to analyst estimates of $87.62 billion. During the same quarter in the prior year, the firm earned $3.36 EPS. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. research analysts expect that Apple Inc. will post 11.46 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Friday, February 9th. Apple’s payout ratio is 25.90%.
In other news, insider Daniel J. Riccio sold 15,641 shares of the company’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $174.78, for a total value of $2,733,733.98. Following the sale, the insider now owns 13,739 shares of the company’s stock, valued at approximately $2,401,302.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Johny Srouji sold 5,760 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $174.40, for a total transaction of $1,004,544.00. Following the completion of the sale, 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. In the last ninety days, insiders sold 112,771 shares of company stock worth $19,419,429. 0.08% of the stock is owned by insiders.
AAPL has been the subject of several research reports. Citigroup restated a “buy” rating and set a $200.00 price target on shares of Apple in a report on Wednesday, December 13th. Bank of America cut shares of Apple from a “buy” rating to a “neutral” rating and lifted their target price for the company from $180.00 to $220.00 in a research note on Wednesday, January 17th. Drexel Hamilton reiterated a “buy” rating and issued a $208.00 target price on shares of Apple in a research note on Tuesday, October 24th. Piper Jaffray Companies reiterated a “buy” rating and issued a $200.00 target price (up from $196.00) on shares of Apple in a research note on Tuesday, October 31st. Finally, Cascend Securities lifted their target price on shares of Apple from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating, thirty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $201.64.
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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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