GWM Advisors LLC Purchases 3,036 Shares of Apple Inc. (AAPL)
GWM Advisors LLC boosted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 14.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,079 shares of the iPhone maker’s stock after buying an additional 3,036 shares during the period. GWM Advisors LLC’s holdings in Apple were worth $2,721,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Hayek Kallen Investment Management increased its stake in Apple by 0.3% in the third quarter. Hayek Kallen Investment Management now owns 48,717 shares of the iPhone maker’s stock valued at $5,507,000 after buying an additional 167 shares during the last quarter. Coastline Trust Co increased its stake in Apple by 0.3% in the third quarter. Coastline Trust Co now owns 42,654 shares of the iPhone maker’s stock valued at $4,822,000 after buying an additional 110 shares during the last quarter. Palisade Asset Management LLC increased its stake in Apple by 3.3% in the third quarter. Palisade Asset Management LLC now owns 89,341 shares of the iPhone maker’s stock valued at $10,100,000 after buying an additional 2,875 shares during the last quarter. Baxter Bros Inc. increased its stake in Apple by 9.9% in the third quarter. Baxter Bros Inc. now owns 7,143 shares of the iPhone maker’s stock valued at $808,000 after buying an additional 645 shares during the last quarter. Finally, First Manhattan Co. increased its stake in Apple by 1.1% in the third quarter. First Manhattan Co. now owns 3,778,812 shares of the iPhone maker’s stock valued at $427,194,000 after buying an additional 39,442 shares during the last quarter. Hedge funds and other institutional investors own 57.11% of the company’s stock.
Apple Inc. (NASDAQ:AAPL) traded down 0.20% on Monday, reaching $111.57. 27,193,983 shares of the company traded hands. The stock has a 50-day moving average of $112.99 and a 200 day moving average of $105.64. Apple Inc. has a 52-week low of $89.47 and a 52-week high of $119.86. The company has a market capitalization of $594.93 billion, a PE ratio of 13.43 and a beta of 1.34.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, October 25th. The iPhone maker reported $1.67 EPS for the quarter, beating the Zacks’ 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 business had revenue of $46.85 billion for the quarter, compared to analyst estimates of $46.88 billion. During the same quarter in the prior year, the business earned $1.96 EPS. Apple’s quarterly revenue was down 9.0% on a year-over-year basis. On average, equities analysts forecast that Apple Inc. will post $9.05 EPS for the current year.
The business also recently declared 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 2.04%. Apple’s dividend payout ratio (DPR) is currently 27.57%.
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Several analysts recently weighed in on the company. Drexel Hamilton restated a “buy” rating and issued a $185.00 price objective on shares of Apple in a report on Sunday. Vetr downgraded shares of Apple from a “strong-buy” rating to a “buy” rating and set a $119.11 target price for the company. in a report on Wednesday, November 16th. Brean Capital reiterated a “buy” rating on shares of Apple in a report on Wednesday, November 2nd. Nomura set a $135.00 target price on shares of Apple and gave the stock a “buy” rating in a report on Tuesday, November 1st. Finally, Cowen and Company reiterated an “outperform” rating and issued a $135.00 target price on shares of Apple in a report on Monday, October 31st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, forty-two have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $128.29.
In other Apple news, insider Philip W. Schiller sold 43,769 shares of the stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $115.07, for a total transaction of $5,036,498.83. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 110,000 shares of the stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $105.95, for a total transaction of $11,654,500.00. The disclosure for this sale can be found here. 0.08% of the stock is currently 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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