Summit Financial Wealth Advisors LLC lessened its position in shares of Apple Inc. (NASDAQ:AAPL) by 7.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,594 shares of the iPhone maker’s stock after selling 1,211 shares during the quarter. Summit Financial Wealth Advisors LLC’s holdings in Apple were worth $2,403,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Blue Sky Asset Management LLC acquired a new stake in Apple in the 2nd quarter valued at approximately $108,000. FNY Managed Accounts LLC increased its holdings in Apple by 852.4% in the 2nd quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock valued at $115,000 after purchasing an additional 716 shares during the last quarter. Private Vista LLC acquired a new stake in Apple in the 2nd quarter valued at approximately $122,000. Armbruster Capital Management Inc. increased its holdings in Apple by 9.4% in the 2nd quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock valued at $131,000 after purchasing an additional 78 shares during the last quarter. Finally, Crow Point Partners LLC increased its holdings in Apple by 100.0% in the 3rd quarter. Crow Point Partners LLC now owns 1,000 shares of the iPhone maker’s stock valued at $153,000 after purchasing an additional 500 shares during the last quarter. 60.18% of the stock is currently owned by hedge funds and other institutional investors.
In other news, SVP Johny Srouji sold 5,760 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $174.40, for a total transaction of $1,004,544.00. Following the transaction, the senior vice president now directly owns 81,560 shares in the company, valued at $14,224,064. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Eduardo H. Cue sold 65,361 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $171.60, for a total transaction of $11,215,947.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 112,771 shares of company stock worth $19,419,429. Company insiders own 0.08% of the company’s stock.
Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, February 1st. The iPhone maker reported $3.89 EPS for the quarter, beating analysts’ consensus estimates of $3.82 by $0.07. Apple had a net margin of 21.13% and a return on equity of 37.37%. The business had revenue of $88.29 billion during the quarter, compared to analysts’ expectations of $87.62 billion. During the same period in the prior year, the company earned $3.36 earnings per share. The business’s revenue was up 12.7% compared to the same quarter last year. sell-side analysts anticipate that Apple Inc. will post 11.46 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were paid a dividend of $0.63 per share. The ex-dividend date was Friday, February 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.46%. Apple’s dividend payout ratio (DPR) is 25.90%.
AAPL has been the subject of several research reports. Citigroup reiterated a “buy” rating and issued a $200.00 target price on shares of Apple in a report on Wednesday, December 13th. Bank of America downgraded shares of Apple from a “buy” rating to a “neutral” rating and lifted their target price for the company from $180.00 to $220.00 in a report on Wednesday, January 17th. Drexel Hamilton reiterated a “buy” rating and issued a $208.00 target price on shares of Apple in a report on Tuesday, October 24th. Piper Jaffray Companies reiterated a “buy” rating and issued a $200.00 target price (up previously from $196.00) on shares of Apple in a report on Tuesday, October 31st. Finally, Cascend Securities lifted their target price on shares of Apple from $200.00 to $220.00 and gave the company a “buy” rating in a report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating, thirty-three have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $201.64.
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Apple Company 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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