Coastline Trust Co lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 2.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 46,734 shares of the iPhone maker’s stock after selling 1,255 shares during the period. Apple comprises approximately 1.3% of Coastline Trust Co’s holdings, making the stock its 6th biggest position. Coastline Trust Co’s holdings in Apple were worth $8,651,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Delphi Private Advisors LLC purchased a new stake in Apple in the 2nd quarter worth approximately $120,000. Quattro Financial Advisors LLC purchased a new stake in Apple in the 1st quarter worth approximately $133,000. CX Institutional purchased a new stake in Apple in the 2nd quarter worth approximately $135,000. Spectrum Financial Alliance Ltd LLC purchased a new stake in Apple in the 1st quarter worth approximately $138,000. Finally, Macroview Investment Management LLC increased its holdings in Apple by 220.3% in the 1st quarter. Macroview Investment Management LLC now owns 900 shares of the iPhone maker’s stock worth $151,000 after acquiring an additional 619 shares in the last quarter. Hedge funds and other institutional investors own 58.44% of the company’s stock.
Several research firms recently issued reports on AAPL. BTIG Research raised shares of Apple to a “buy” rating and increased their target price for the stock from $207.00 to $235.00 in a report on Wednesday, August 1st. Macquarie set a $214.00 target price on shares of Apple and gave the stock a “buy” rating in a report on Wednesday, August 15th. Morgan Stanley reissued a “buy” rating and issued a $232.00 target price on shares of Apple in a report on Wednesday, August 22nd. S&P Equity Research increased their target price on shares of Apple to $250.00 and gave the stock an “in-line” rating in a report on Tuesday, September 11th. They noted that the move was a valuation call. Finally, UBS Group began coverage on shares of Apple in a report on Wednesday, September 12th. Three investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twenty-eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $224.27.
In related news, SVP Angela J. Ahrendts sold 25,000 shares of the firm’s stock in a transaction on Wednesday, October 3rd. The stock was sold at an average price of $232.66, for a total value of $5,816,500.00. Following the completion of the sale, the senior vice president now directly owns 105,538 shares in the company, valued at $24,554,471.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Timothy D. Cook sold 265,160 shares of the firm’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $217.79, for a total value of $57,749,196.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 480,737 shares of company stock valued at $107,157,170. 0.08% of the stock is currently owned by insiders.
AAPL stock opened at $204.47 on Friday. Apple Inc. has a fifty-two week low of $150.24 and a fifty-two week high of $233.47. The company has a quick ratio of 1.09, a current ratio of 1.12 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $1,031.93 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 1.51 and a beta of 1.26.
Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, November 1st. The iPhone maker reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.78 by $0.13. Apple had a net margin of 22.41% and a return on equity of 48.68%. The firm had revenue of $62.90 billion during the quarter, compared to analyst estimates of $61.55 billion. During the same period last year, the firm posted $2.07 earnings per share. Apple’s revenue for the quarter was up 19.6% compared to the same quarter last year. Analysts predict that Apple Inc. will post 13.35 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, November 12th will be issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Thursday, November 8th. Apple’s dividend payout ratio (DPR) is presently 24.52%.
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Apple Company Profile
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
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