Cabot Wealth Management Inc. decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,952 shares of the iPhone maker’s stock after selling 1,116 shares during the period. Apple comprises 2.4% of Cabot Wealth Management Inc.’s holdings, making the stock its 8th largest holding. Cabot Wealth Management Inc.’s holdings in Apple were worth $10,362,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of AAPL. Hefty Wealth Partners raised its stake in shares of Apple by 27.6% during the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock valued at $115,000 after acquiring an additional 174 shares during the last quarter. American Beacon Advisors Inc. bought a new position in shares of Apple during the first quarter valued at $117,000. Armbruster Capital Management Inc. raised its stake in shares of Apple by 9.4% during the second quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock valued at $131,000 after acquiring an additional 78 shares during the last quarter. State of Alaska Department of Revenue bought a new position in shares of Apple during the second quarter valued at $149,000. Finally, D. Scott Neal Inc. raised its stake in Apple by 19.8% during the second quarter. D. Scott Neal Inc. now owns 1,212 shares of the iPhone maker’s stock worth $175,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 59.56% of the company’s stock.
A number of brokerages recently weighed in on AAPL. Royal Bank Of Canada reissued an “outperform” rating and set a $160.08 target price (down previously from $176.00) on shares of Apple in a research note on Wednesday, August 9th. Longbow Research reissued a “buy” rating and set a $173.00 target price on shares of Apple in a research note on Friday, August 11th. Bank of America reissued a “buy” rating and set a $180.00 target price on shares of Apple in a research note on Tuesday, September 26th. Vetr cut shares of Apple from a “buy” rating to a “hold” rating and set a $178.34 price target for the company. in a report on Friday, December 1st. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $150.00 price target on shares of Apple in a report on Thursday, September 21st. Seven research analysts have rated the stock with a hold rating, forty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $200.27.
Apple (NASDAQ:AAPL) last released its earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.20. The company had revenue of $52.58 billion for the quarter, compared to analysts’ expectations of $50.71 billion. Apple had a net margin of 21.09% and a return on equity of 36.29%. The firm’s revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.50 EPS. sell-side analysts predict that Apple Inc. will post 11.18 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Monday, November 13th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Friday, November 10th. Apple’s payout ratio is currently 27.39%.
In other news, insider Eduardo H. Cue sold 65,361 shares of Apple stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $171.60, for a total transaction of $11,215,947.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Angela J. Ahrendts sold 63,388 shares of Apple stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $154.21, for a total transaction of $9,775,063.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 217,326 shares of company stock worth $35,290,561. Company insiders own 0.08% of the company’s stock.
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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