Apple Inc. (AAPL) Position Reduced by Merriman Wealth Management LLC
Merriman Wealth Management LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 41,989 shares of the iPhone maker’s stock after selling 1,403 shares during the period. Merriman Wealth Management LLC’s holdings in Apple were worth $4,747,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Penserra Capital Management LLC raised its position in 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. bought a new position in Apple during the third quarter valued at about $122,000. D. Scott Neal Inc. raised its position in 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 raised its position in 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. bought a new position in Apple during the second quarter valued at about $143,000. Institutional investors and hedge funds own 57.11% of the company’s stock.
Shares of Apple Inc. (NASDAQ:AAPL) traded down 0.84% during trading on Wednesday, reaching $110.52. The company’s stock had a trading volume of 36,151,160 shares. The stock has a market capitalization of $589.33 billion, a price-to-earnings ratio of 13.30 and a beta of 1.34. Apple Inc. has a 1-year low of $89.47 and a 1-year high of $119.86. The company’s 50-day moving average price is $112.99 and its 200 day moving average price is $105.64.
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 the Zacks’ consensus estimate of $1.66 by $0.01. The firm earned $46.85 billion during the quarter, compared to analyst estimates of $46.88 billion. Apple had a net margin of 21.19% and a return on equity of 35.59%. The business’s revenue was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.96 EPS. Analysts anticipate that Apple Inc. will post $9.05 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date was Thursday, November 3rd. Apple’s dividend payout ratio is 27.57%.
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AAPL has been the subject of several recent analyst reports. Vetr lowered Apple from a “hold” rating to a “sell” rating and set a $102.79 price target for the company. in a research report on Tuesday, August 2nd. Drexel Hamilton reissued a “buy” rating and issued a $185.00 target price on shares of Apple in a research report on Wednesday, August 3rd. Wells Fargo & Co. reissued an “outperform” rating and issued a $120.00 target price on shares of Apple in a research report on Wednesday, August 3rd. RBC Capital Markets reissued an “outperform” rating and issued a $115.00 target price on shares of Apple in a research report on Friday, August 5th. Finally, Royal Bank Of Canada boosted their target price on Apple from $115.00 to $117.00 and gave the stock an “outperform” rating in a research report on Thursday, August 11th. Three 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 assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $128.29.
In other Apple news, insider Philip W. Schiller sold 43,769 shares of the business’s stock in a transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel J. Riccio sold 33,323 shares of the business’s stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $110.35, for a total transaction of $3,677,193.05. Following the transaction, the insider now directly owns 32,484 shares of the company’s stock, valued at approximately $3,584,609.40. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.
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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