Steward Partners Investment Advisory LLC acquired a new position in Apple (NASDAQ:AAPL) during the 3rd quarter, HoldingsChannel reports. The firm acquired 230,050 shares of the iPhone maker’s stock, valued at approximately $35,455,000. Apple accounts for 3.6% of Steward Partners Investment Advisory LLC’s holdings, making the stock its 2nd largest holding.
Other large investors have also modified their holdings of the company. Vantage Financial Partners Ltd. Inc. bought a new position in shares of Apple in the 2nd quarter worth approximately $400,000. Blue Sky Asset Management LLC purchased a new stake in Apple in the 2nd quarter worth 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 worth $115,000 after acquiring an additional 716 shares in the last quarter. 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 worth $131,000 after acquiring an additional 78 shares in 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 worth $153,000 after acquiring an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 61.41% of the company’s stock.
Shares of Apple (AAPL) opened at $178.02 on Friday. Apple has a 52-week low of $138.62 and a 52-week high of $183.50. The firm has a market capitalization of $906,472.44, a price-to-earnings ratio of 18.30, a PEG ratio of 1.35 and a beta of 1.19. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.24.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 12th were issued a $0.63 dividend. The ex-dividend date of this dividend was Friday, February 9th. This represents a $2.52 annualized dividend and a dividend yield of 1.42%. Apple’s payout ratio is currently 25.90%.
Several research firms recently issued reports on AAPL. Rosenblatt Securities reissued a “buy” rating on shares of Apple in a report on Friday. Barclays reduced their target price on shares of Apple from $170.00 to $168.00 and set an “equal weight” rating for the company in a report on Friday. Royal Bank of Canada reissued a “buy” rating and issued a $205.00 target price on shares of Apple in a report on Friday, March 9th. Vetr lowered shares of Apple from a “buy” rating to a “hold” rating and set a $183.68 target price for the company. in a report on Tuesday, March 6th. Finally, ValuEngine raised shares of Apple from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $201.53.
In related news, insider Daniel J. Riccio sold 15,641 shares of Apple stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $174.78, for a total value of $2,733,733.98. Following the completion of the sale, the insider now directly owns 13,739 shares in the company, valued at $2,401,302.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.08% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Steward Partners Investment Advisory LLC Invests $35.46 Million in Apple (AAPL)” was first posted by Chaffey Breeze and is the property of of Chaffey Breeze. If you are reading this report on another domain, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright laws. The original version of this report can be read at https://www.chaffeybreeze.com/2018/03/17/steward-partners-investment-advisory-llc-invests-35-46-million-in-apple-aapl.html.
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.
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple (NASDAQ:AAPL).
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.