Smithfield Trust Co. Has $2.90 Million Position in Apple Inc. (AAPL)

Smithfield Trust Co. grew its holdings in Apple Inc. (NASDAQ:AAPL) by 1.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 20,142 shares of the iPhone maker’s stock after buying an additional 373 shares during the quarter. Smithfield Trust Co.’s holdings in Apple were worth $2,901,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AAPL. Boys Arnold & Co. Inc. lifted its holdings in Apple by 4.8% in the 1st quarter. Boys Arnold & Co. Inc. now owns 106,463 shares of the iPhone maker’s stock worth $15,294,000 after buying an additional 4,886 shares during the period. Johanson Financial Advisors Inc. purchased a new stake in Apple in the 1st quarter worth approximately $7,439,000. Round Table Services LLC lifted its holdings in Apple by 3.6% in the 1st quarter. Round Table Services LLC now owns 9,587 shares of the iPhone maker’s stock worth $1,377,000 after buying an additional 333 shares during the period. Sabal Trust CO lifted its holdings in Apple by 0.3% in the 1st quarter. Sabal Trust CO now owns 215,574 shares of the iPhone maker’s stock worth $30,970,000 after buying an additional 575 shares during the period. Finally, Stewart & Patten Co. LLC lifted its holdings in Apple by 15.7% in the 1st quarter. Stewart & Patten Co. LLC now owns 92,416 shares of the iPhone maker’s stock worth $13,276,000 after buying an additional 12,548 shares during the period. Institutional investors and hedge funds own 60.38% of the company’s stock.

Shares of Apple Inc. (NASDAQ AAPL) opened at $173.97 on Tuesday. The stock has a market cap of $896,810.25, a price-to-earnings ratio of 18.99, a PEG ratio of 1.40 and a beta of 1.23. Apple Inc. has a 1 year low of $104.08 and a 1 year high of $176.24. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 1.28.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.87 by $0.20. The business had revenue of $52.58 billion during 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 company’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.50 EPS. research analysts anticipate that Apple Inc. will post 11.15 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Monday, November 13th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, November 10th. This represents a $2.52 annualized dividend and a dividend yield of 1.45%. Apple’s dividend payout ratio (DPR) is currently 27.39%.

Several research analysts have recently issued reports on AAPL shares. Morgan Stanley increased their target price on Apple from $177.00 to $182.00 and gave the stock an “overweight” rating in a research report on Monday, July 17th. Needham & Company LLC reissued a “buy” rating and issued a $175.00 target price (up previously from $165.00) on shares of Apple in a research report on Wednesday, August 2nd. They noted that the move was a valuation call. Cleveland Research raised Apple from a “neutral” rating to a “buy” rating and set a $197.00 target price for the company in a research report on Tuesday, August 29th. Bank of America Corporation reissued a “buy” rating and issued a $180.00 target price (up previously from $175.00) on shares of Apple in a research report on Wednesday, August 2nd. Finally, UBS AG reissued a “buy” rating and issued a $170.00 target price on shares of Apple in a research report on Monday, July 31st. Seven analysts have rated the stock with a hold rating and forty-six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $199.14.

In related news, insider Angela J. Ahrendts sold 63,388 shares of Apple stock in a transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Timothy D. Cook sold 268,623 shares of Apple stock in a transaction on Monday, August 28th. The stock was sold at an average price of $160.63, for a total transaction of $43,148,912.49. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 411,389 shares of company stock valued at $65,364,467. Corporate insiders own 0.08% of the company’s stock.

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Apple 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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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