Cutler Capital Management LLC Reduces Stake in Apple Inc. (AAPL)
Cutler Capital Management LLC cut its position in Apple Inc. (NASDAQ:AAPL) by 23.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 36,879 shares of the iPhone maker’s stock after selling 11,000 shares during the period. Apple accounts for about 1.3% of Cutler Capital Management LLC’s portfolio, making the stock its 17th largest position. Cutler Capital Management LLC’s holdings in Apple were worth $4,169,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of AAPL. 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 valued at $103,000 after buying an additional 304 shares in the last quarter. Weaver C. Barksdale & Associates Inc. purchased a new position in shares of Apple during the third quarter valued at $122,000. D. Scott Neal Inc. increased its position in shares of Apple by 701.3% in the third quarter. D. Scott Neal Inc. now owns 1,202 shares of the iPhone maker’s stock valued at $136,000 after buying an additional 1,052 shares in 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 valued at $140,000 after buying an additional 69 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. purchased a new position in shares of Apple during the second quarter valued at $143,000. 57.11% of the stock is currently owned by institutional investors.
Apple Inc. (NASDAQ:AAPL) traded down 0.10% during midday trading on Tuesday, reaching $111.46. The company’s stock had a trading volume of 28,505,879 shares. The firm has a market cap of $594.34 billion, a P/E ratio of 13.41 and a beta of 1.34. The firm has a 50 day moving average price of $112.99 and a 200-day moving average price of $105.64. Apple Inc. has a 52 week low of $89.47 and a 52 week high of $119.86.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, October 25th. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, beating 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 business earned $46.85 billion during the quarter, compared to the consensus estimate of $46.88 billion. During the same period last year, the business posted $1.96 EPS. Apple’s revenue was down 9.0% on a year-over-year basis. On average, analysts forecast that Apple Inc. will post $9.05 earnings per share for the current fiscal year.
The company also recently announced 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 annualized dividend and a yield of 2.05%. Apple’s dividend payout ratio (DPR) is currently 27.57%.
Several equities research analysts recently weighed in on the stock. Pacific Crest restated a “buy” rating and issued a $129.00 price target on shares of Apple in a research report on Wednesday, October 26th. Vetr cut shares of Apple from a “hold” rating to a “sell” rating and set a $103.98 price target on the stock. in a research report on Monday, August 8th. RBC Capital Markets restated an “outperform” rating and issued a $115.00 price target on shares of Apple in a research report on Friday, August 5th. Wells Fargo & Co. restated a “market perform” rating on shares of Apple in a research report on Friday, September 9th. Finally, Macquarie restated an “outperform” rating and issued a $115.00 price target on shares of Apple in a research report on Friday, August 26th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, forty-two have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $128.29.
In other Apple news, CEO Timothy D. Cook sold 49,883 shares of the stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $106.19, for a total value of $5,297,075.77. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Daniel J. Riccio sold 22,381 shares of the stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $113.06, for a total transaction of $2,530,395.86. Following the completion of the transaction, the insider now directly owns 47,043 shares in the company, valued at $5,318,681.58. 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.
Receive News & Stock Ratings for Apple Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Inc. and related stocks with our FREE daily email newsletter.