Wetherby Asset Management Inc. increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 5.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 155,377 shares of the iPhone maker’s stock after acquiring an additional 7,475 shares during the quarter. Apple comprises 3.8% of Wetherby Asset Management Inc.’s portfolio, making the stock its 2nd biggest holding. Wetherby Asset Management Inc.’s holdings in Apple were worth $22,377,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of AAPL. FC Advisory LLC grew its holdings in Apple by 0.4% in the 2nd quarter. FC Advisory LLC now owns 2,576 shares of the iPhone maker’s stock valued at $371,000 after buying an additional 10 shares in the last quarter. Lenox Wealth Advisors Inc. lifted its position in shares of Apple by 0.4% during the 2nd quarter. Lenox Wealth Advisors Inc. now owns 4,971 shares of the iPhone maker’s stock valued at $716,000 after acquiring an additional 20 shares during the period. Welch Investments LLC lifted its position in shares of Apple by 1.5% during the 2nd quarter. Welch Investments LLC now owns 1,607 shares of the iPhone maker’s stock valued at $231,000 after acquiring an additional 23 shares during the period. Accurate Investment Solutions Inc. lifted its position in shares of Apple by 0.4% during the 2nd quarter. Accurate Investment Solutions Inc. now owns 6,600 shares of the iPhone maker’s stock valued at $951,000 after acquiring an additional 26 shares during the period. Finally, Hochman Cole Investment Advisors Inc. lifted its position in shares of Apple by 0.3% during the 2nd quarter. Hochman Cole Investment Advisors Inc. now owns 10,422 shares of the iPhone maker’s stock valued at $1,501,000 after acquiring an additional 34 shares during the period. 59.87% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Johny Srouji sold 5,892 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $161.00, for a total value of $948,612.00. Following the transaction, the insider now owns 70,358 shares in the company, valued at $11,327,638. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 268,623 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $160.63, for a total value of $43,148,912.49. The disclosure for this sale can be found here. In the last quarter, insiders sold 410,352 shares of company stock worth $65,356,512. Corporate insiders own 0.08% of the company’s stock.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.20. The business had revenue of $52.58 billion for the quarter, compared to analyst estimates of $50.71 billion. Apple had a return on equity of 36.29% and a net margin of 21.09%. The company’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.50 earnings per share. equities analysts expect that Apple Inc. will post 11.18 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, November 13th were issued a $0.63 dividend. The ex-dividend date was Friday, November 10th. This represents a $2.52 annualized dividend and a yield of 1.44%. Apple’s payout ratio is currently 27.39%.
A number of analysts have recently weighed in on AAPL shares. Needham & Company LLC reiterated a “buy” rating and set a $175.00 target price (up 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 upgraded 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 reiterated a “buy” rating and set a $180.00 target price (up from $175.00) on shares of Apple in a research report on Wednesday, August 2nd. UBS AG reiterated a “buy” rating and set a $170.00 target price on shares of Apple in a research report on Monday, July 31st. Finally, Drexel Hamilton restated a “buy” rating and set a $208.00 price objective on shares of Apple in a research report on Tuesday, October 24th. Seven equities research analysts have rated the stock with a hold rating and forty-six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $200.28.
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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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