Evercore Wealth Management LLC Sells 12,100 Shares of Apple Inc. (AAPL)
Evercore Wealth Management LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 611,611 shares of the iPhone maker’s stock after selling 12,100 shares during the period. Apple comprises approximately 2.6% of Evercore Wealth Management LLC’s investment portfolio, making the stock its 3rd largest position. Evercore Wealth Management LLC’s holdings in Apple were worth $58,470,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the stock. Penserra Capital Management LLC increased its position in shares of Apple by 39.2% in the second quarter. Penserra Capital Management LLC now owns 1,080 shares of the iPhone maker’s stock worth $103,000 after buying an additional 304 shares during the last quarter. Delphi Private Advisors LLC increased its position in shares of Apple by 5.0% in the second quarter. Delphi Private Advisors LLC now owns 1,462 shares of the iPhone maker’s stock worth $140,000 after buying an additional 69 shares during the last quarter. Hussman Strategic Advisors Inc. bought a new position in shares of Apple during the second quarter worth approximately $143,000. River & Mercantile Asset Management LLP increased its position in shares of Apple by 22.8% in the second quarter. River & Mercantile Asset Management LLP now owns 1,800 shares of the iPhone maker’s stock worth $172,000 after buying an additional 334 shares during the last quarter. Finally, Roble Belko & Company Inc increased its position in shares of Apple by 60.6% in the second quarter. Roble Belko & Company Inc now owns 1,803 shares of the iPhone maker’s stock worth $172,000 after buying an additional 680 shares during the last quarter. Institutional investors and hedge funds own 56.35% of the company’s stock.
Apple Inc. (NASDAQ:AAPL) opened at 108.43 on Friday. Apple Inc. has a 52 week low of $89.47 and a 52 week high of $119.92. The stock has a market cap of $578.18 billion, a price-to-earnings ratio of 13.05 and a beta of 1.34. The company has a 50 day moving average price of $113.83 and a 200 day moving average price of $104.30.
Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, October 25th. The iPhone maker reported $1.67 EPS for the quarter, beating the consensus estimate of $1.66 by $0.01. The firm had revenue of $46.85 billion for the quarter, compared to analyst estimates of $46.88 billion. Apple had a return on equity of 35.59% and a net margin of 21.19%. Apple’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.96 earnings per share. Analysts expect that Apple Inc. will post $9.04 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend was Thursday, November 3rd. Apple’s dividend payout ratio (DPR) is presently 27.57%.
Several research firms have commented on AAPL. Pacific Crest reissued a “buy” rating and issued a $129.00 target price on shares of Apple in a research report on Wednesday, October 26th. RBC Capital Markets reaffirmed an “outperform” rating and set a $115.00 price objective on shares of Apple in a report on Friday, August 5th. Vetr downgraded shares of Apple from a “hold” rating to a “sell” rating and set a $103.98 price objective for the company. in a report on Monday, August 8th. Wells Fargo & Co. reaffirmed a “market perform” rating on shares of Apple in a report on Friday, September 9th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $116.00 price objective (down from $118.00) on shares of Apple in a report on Thursday, July 21st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, forty-two have assigned a buy rating and two have given a strong buy rating to the company’s stock. Apple currently has an average rating of “Buy” and a consensus target price of $128.29.
In related news, CEO Timothy D. Cook sold 110,000 shares of the stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $105.95, for a total value of $11,654,500.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Philip W. Schiller sold 43,769 shares of the stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $115.07, for a total value of $5,036,498.83. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.
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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