Independent Portfolio Consultants Inc. reduced its stake in Apple Inc. (NASDAQ:AAPL) by 4.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,382 shares of the iPhone maker’s stock after selling 2,454 shares during the period. Apple makes up 1.7% of Independent Portfolio Consultants Inc.’s investment portfolio, making the stock its largest position. Independent Portfolio Consultants Inc.’s holdings in Apple were worth $5,357,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Cordasco Financial Network raised its position in Apple by 0.4% in the second quarter. Cordasco Financial Network now owns 3,353 shares of the iPhone maker’s stock valued at $321,000 after buying an additional 12 shares during the period. Cidel Asset Management Inc. raised its position in Apple by 0.3% in the second quarter. Cidel Asset Management Inc. now owns 4,186 shares of the iPhone maker’s stock valued at $400,000 after buying an additional 13 shares during the period. Boston Standard Wealth Management LLC raised its position in Apple by 0.6% in the second quarter. Boston Standard Wealth Management LLC now owns 2,280 shares of the iPhone maker’s stock valued at $218,000 after buying an additional 14 shares during the period. Lbmc Investment Advisors LLC raised its position in Apple by 0.3% in the second quarter. Lbmc Investment Advisors LLC now owns 5,110 shares of the iPhone maker’s stock valued at $489,000 after buying an additional 15 shares during the period. Finally, Summit Financial Strategies Inc. raised its position in Apple by 0.3% in the second quarter. Summit Financial Strategies Inc. now owns 6,533 shares of the iPhone maker’s stock valued at $625,000 after buying an additional 19 shares during the period. 56.81% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Shares of Apple Inc. (NASDAQ:AAPL) traded up 0.50% during trading on Friday, reaching $111.79. The company’s stock had a trading volume of 11,475,922 shares. The firm’s 50-day moving average is $113.06 and its 200-day moving average is $105.31. The stock has a market capitalization of $596.10 billion, a PE ratio of 13.45 and a beta of 1.34. Apple Inc. has a 12-month low of $89.47 and a 12-month high of $119.86.

Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, October 25th. The iPhone maker reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.01. Apple had a return on equity of 35.59% and a net margin of 21.19%. The business had revenue of $46.85 billion for the quarter, compared to analyst estimates of $46.88 billion. During the same quarter last year, the firm posted $1.96 earnings per share. The business’s revenue was down 9.0% compared to the same quarter last year. Equities analysts expect that Apple Inc. will post $9.05 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were paid a $0.57 dividend. The ex-dividend date of this dividend was Thursday, November 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.04%. Apple’s payout ratio is 27.57%.

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AAPL has been the topic of several research analyst reports. RBC Capital Markets reissued an “outperform” rating and set a $117.00 price target (up from $115.00) on shares of Apple in a research note on Thursday, August 11th. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Apple in a research note on Thursday, September 8th. William Blair reissued an “outperform” rating on shares of Apple in a research note on Thursday, September 8th. reissued a “buy” rating and set a $130.00 price target on shares of Apple in a research note on Wednesday, October 26th. Finally, Drexel Hamilton reissued a “buy” rating and set a $185.00 price target on shares of Apple in a research note on Wednesday, November 2nd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, forty-two have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $128.29.

In other news, CFO Luca Maestri sold 16,950 shares of the firm’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $110.03, for a total transaction of $1,865,008.50. Following the transaction, the chief financial officer now owns 12,055 shares in the company, valued at $1,326,411.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Daniel J. Riccio sold 49,996 shares of the firm’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $105.95, for a total value of $5,297,076.20. Following the transaction, the senior vice president now owns 67,143 shares in the company, valued at approximately $7,113,800.85. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

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.

5 Day Chart for NASDAQ:AAPL

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