Novare Capital Management LLC lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,949 shares of the iPhone maker’s stock after selling 1,463 shares during the quarter. Apple comprises about 2.1% of Novare Capital Management LLC’s holdings, making the stock its 7th biggest holding. Novare Capital Management LLC’s holdings in Apple were worth $14,042,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in AAPL. Monument Capital Management grew its stake in shares of Apple by 2.2% during the 2nd quarter. Monument Capital Management now owns 2,438 shares of the iPhone maker’s stock worth $491,000 after purchasing an additional 53 shares during the period. Pictet North America Advisors SA grew its stake in shares of Apple by 3.3% during the 2nd quarter. Pictet North America Advisors SA now owns 131,021 shares of the iPhone maker’s stock worth $25,932,000 after purchasing an additional 4,170 shares during the period. Rockland Trust Co. grew its stake in shares of Apple by 4.8% during the 2nd quarter. Rockland Trust Co. now owns 20,618 shares of the iPhone maker’s stock worth $4,081,000 after purchasing an additional 948 shares during the period. Asset Dedication LLC grew its stake in shares of Apple by 0.4% during the 2nd quarter. Asset Dedication LLC now owns 19,862 shares of the iPhone maker’s stock worth $3,933,000 after purchasing an additional 79 shares during the period. Finally, HWG Holdings LP grew its stake in shares of Apple by 45.5% during the 2nd quarter. HWG Holdings LP now owns 18,403 shares of the iPhone maker’s stock worth $3,642,000 after purchasing an additional 5,752 shares during the period. Hedge funds and other institutional investors own 58.77% of the company’s stock.
NASDAQ:AAPL traded down $4.02 on Friday, reaching $219.07. The stock had a trading volume of 1,084,421 shares, compared to its average volume of 24,353,276. The company has a market cap of $979.31 billion, a price-to-earnings ratio of 18.38, a P/E/G ratio of 1.79 and a beta of 1.24. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.50 and a quick ratio of 1.47. The firm’s fifty day moving average is $207.16 and its two-hundred day moving average is $196.48. Apple Inc. has a 12-month low of $142.00 and a 12-month high of $233.47.
Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.10 by $0.08. The company had revenue of $53.81 billion for the quarter, compared to analyst estimates of $53.39 billion. Apple had a net margin of 21.50% and a return on equity of 52.13%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.34 EPS. As a group, research analysts forecast that Apple Inc. will post 11.68 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a $0.77 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.08 dividend on an annualized basis and a yield of 1.41%. Apple’s dividend payout ratio (DPR) is 25.86%.
In other news, CEO Timothy D. Cook sold 265,160 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $206.17, for a total transaction of $54,668,037.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Chris Kondo sold 4,376 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $217.47, for a total transaction of $951,648.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 304,536 shares of company stock worth $62,894,611. 0.05% of the stock is owned by insiders.
A number of equities analysts have recently weighed in on AAPL shares. Credit Suisse Group set a $209.00 price target on shares of Apple and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Longbow Research reaffirmed a “hold” rating on shares of Apple in a research note on Tuesday. Deutsche Bank set a $210.00 price target on shares of Apple and gave the stock a “hold” rating in a research note on Wednesday, September 4th. Maxim Group lowered their price target on shares of Apple from $211.00 to $204.00 and set a “hold” rating on the stock in a research note on Wednesday. Finally, Cowen set a $250.00 price target on shares of Apple and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Four research analysts have rated the stock with a sell rating, nineteen have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Apple has an average rating of “Hold” and an average price target of $218.18.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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