Diker Management LLC Reduces Position in Apple Inc. (AAPL)
Diker Management LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 637,273 shares of the iPhone maker’s stock after selling 348 shares during the period. Apple makes up 23.7% of Diker Management LLC’s investment portfolio, making the stock its 2nd largest position. Diker Management LLC’s holdings in Apple were worth $60,923,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Lombard Odier Transatlantic Limited Partnership raised its stake in Apple by 1.1% in the second quarter. Lombard Odier Transatlantic Limited Partnership now owns 26,615 shares of the iPhone maker’s stock valued at $2,544,000 after buying an additional 300 shares in the last quarter. Lenox Wealth Management Inc. raised its position in Apple by 1.4% in the second quarter. Lenox Wealth Management Inc. now owns 10,717 shares of the iPhone maker’s stock worth $1,025,000 after buying an additional 149 shares during the period. Taurus Asset Management LLC raised its position in Apple by 0.7% in the second quarter. Taurus Asset Management LLC now owns 140,699 shares of the iPhone maker’s stock worth $13,451,000 after buying an additional 1,005 shares during the period. Mairs & Power INC raised its position in Apple by 0.7% in the second quarter. Mairs & Power INC now owns 15,227 shares of the iPhone maker’s stock worth $1,456,000 after buying an additional 105 shares during the period. Finally, 1832 Asset Management L.P. raised its position in Apple by 64.8% in the second quarter. 1832 Asset Management L.P. now owns 624,354 shares of the iPhone maker’s stock worth $61,539,000 after buying an additional 245,470 shares during the period. 56.35% of the stock is owned by institutional investors and hedge funds.
Shares of Apple Inc. (NASDAQ:AAPL) traded up 0.59% on Friday, hitting $108.43. 34,143,898 shares of the stock traded hands. The firm has a market cap of $578.18 billion, a P/E ratio of 13.05 and a beta of 1.34. The stock has a 50-day moving average price of $113.83 and a 200 day moving average price of $104.30. Apple Inc. has a 52 week low of $89.47 and a 52 week high of $119.92.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, October 25th. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.66 by $0.01. Apple had a net margin of 21.19% and a return on equity of 35.59%. The company earned $46.85 billion during the quarter, compared to analyst estimates of $46.88 billion. During the same quarter last year, the business posted $1.96 EPS. Apple’s quarterly revenue was down 9.0% compared to the same quarter last year. Equities research analysts predict that Apple Inc. will post $9.04 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were paid a $0.57 dividend. The ex-dividend date was Thursday, November 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.10%. Apple’s dividend payout ratio is 27.57%.
A number of equities research analysts have issued reports on the company. Piper Jaffray Cos. restated an “overweight” rating and set a $153.00 price objective on shares of Apple in a research report on Tuesday, July 26th. Cowen and Company restated an “outperform” rating and set a $125.00 price objective on shares of Apple in a research report on Thursday, July 28th. BMO Capital Markets restated an “outperform” rating and set a $140.00 price objective (up from $116.00) on shares of Apple in a research report on Monday, September 19th. OTR Global upgraded Apple to a “positive” rating in a research report on Wednesday, October 12th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $107.00 price objective on shares of Apple in a research report on Wednesday, October 26th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, forty-two have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $128.29.
In related news, SVP D Bruce Sewell sold 24,000 shares of Apple stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $110.11, for a total value of $2,642,640.00. Following the completion of the transaction, the senior vice president now directly owns 192,024 shares in the company, valued at approximately $21,143,762.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Daniel J. Riccio sold 49,996 shares of Apple stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $105.95, for a total transaction of $5,297,076.20. Following the completion of the transaction, the senior vice president now owns 67,143 shares of the company’s stock, valued at $7,113,800.85. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate insiders.
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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