United Bank reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,317 shares of the iPhone maker’s stock after selling 640 shares during the period. Apple accounts for approximately 2.3% of United Bank’s investment portfolio, making the stock its 11th biggest holding. United Bank’s holdings in Apple were worth $2,494,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of AAPL. Hefty Wealth Partners grew its stake in shares of Apple by 27.6% in the 2nd quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock valued at $115,000 after buying an additional 174 shares during the period. American Beacon Advisors Inc. acquired a new stake in shares of Apple in the 1st quarter valued at about $117,000. State of Alaska Department of Revenue acquired a new stake in shares of Apple in the 2nd quarter valued at about $149,000. D. Scott Neal Inc. grew its stake in shares of Apple by 19.8% in the 2nd quarter. D. Scott Neal Inc. now owns 1,212 shares of the iPhone maker’s stock valued at $175,000 after buying an additional 200 shares during the period. Finally, Advocacy Wealth Management Services LLC grew its stake in shares of Apple by 4.0% in the 2nd quarter. Advocacy Wealth Management Services LLC now owns 1,337 shares of the iPhone maker’s stock valued at $193,000 after buying an additional 52 shares during the period. Hedge funds and other institutional investors own 60.30% of the company’s stock.
Apple Inc. (AAPL) opened at $174.67 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.73. Apple Inc. has a 12 month low of $104.08 and a 12 month high of $176.24. The company has a market cap of $896,810.25, a P/E ratio of 18.99, a PEG ratio of 1.40 and a beta of 1.23.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.87 by $0.20. Apple had a net margin of 21.09% and a return on equity of 36.29%. The business had revenue of $52.58 billion during the quarter, compared to analyst estimates of $50.71 billion. During the same quarter last year, the firm posted $1.50 earnings per share. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. sell-side analysts expect that Apple Inc. will post 11.15 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Monday, November 13th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Friday, November 10th. Apple’s payout ratio is 27.39%.
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AAPL has been the subject of several research reports. Oppenheimer Holdings, Inc. restated a “” rating on shares of Apple in a research note on Thursday, August 10th. Loop Capital initiated coverage on Apple in a research note on Monday, July 24th. They issued a “buy” rating and a $172.00 target price for the company. Guggenheim restated a “buy” rating and issued a $180.00 target price on shares of Apple in a research note on Friday, July 21st. UBS AG restated a “buy” rating and issued a $170.00 target price on shares of Apple in a research note on Friday, July 21st. Finally, J P Morgan Chase & Co set a $165.00 target price on Apple and gave the company a “buy” rating in a research note on Wednesday, July 19th. Seven investment analysts have rated the stock with a hold rating and forty-six have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $199.14.
In other news, SVP Johny Srouji sold 10,469 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $162.20, for a total value of $1,698,071.80. Following the completion of the transaction, the senior vice president now owns 76,250 shares of the company’s stock, valued at $12,367,750. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Chris Kondo sold 6,209 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $161.96, for a total transaction of $1,005,609.64. The disclosure for this sale can be found here. In the last three months, insiders sold 411,389 shares of company stock valued at $65,364,467. 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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