Steward Partners Investment Advisory LLC Invests $35.46 Million in Apple (AAPL)

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.

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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.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share for the quarter, beating the consensus estimate of $3.82 by $0.07. The firm had revenue of $88.29 billion during the quarter, compared to the consensus estimate of $87.62 billion. Apple had a return on equity of 37.37% and a net margin of 21.13%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $3.36 earnings per share. equities research analysts predict that Apple will post 11.43 EPS for the current year.

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.

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About Apple

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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