Apple Inc. (AAPL) Position Reduced by DSC Advisors L.P.
DSC Advisors L.P. cut its position in Apple Inc. (NASDAQ:AAPL) by 19.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,345 shares of the iPhone maker’s stock after selling 1,042 shares during the period. DSC Advisors L.P.’s holdings in Apple were worth $503,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in AAPL. Orinda Asset Management LLC increased its stake in shares of Apple by 131.7% in the third quarter. Orinda Asset Management LLC now owns 3,846 shares of the iPhone maker’s stock valued at $435,000 after buying an additional 2,186 shares during the last quarter. Brouwer & Janachowski LLC raised its stake in shares of Apple by 2.7% in the third quarter. Brouwer & Janachowski LLC now owns 3,073 shares of the iPhone maker’s stock worth $347,000 after buying an additional 80 shares during the period. Rosenbaum Jay D. raised its stake in shares of Apple by 0.3% in the third quarter. Rosenbaum Jay D. now owns 15,095 shares of the iPhone maker’s stock worth $1,707,000 after buying an additional 50 shares during the period. Cottage Street Advisors LLC raised its stake in shares of Apple by 3.7% in the third quarter. Cottage Street Advisors LLC now owns 46,295 shares of the iPhone maker’s stock worth $5,230,000 after buying an additional 1,670 shares during the period. Finally, Rathbone Brothers plc increased its stake in shares of Apple by 1.5% in the third quarter. Rathbone Brothers plc now owns 504,953 shares of the iPhone maker’s stock valued at $57,085,000 after buying an additional 7,459 shares during the period. Institutional investors and hedge funds own 62.06% of the company’s stock.
Shares of Apple Inc. (AAPL) traded down 1.40% during midday trading on Friday, reaching $142.27. The company’s stock had a trading volume of 50,361,093 shares. Apple Inc. has a 1-year low of $91.50 and a 1-year high of $156.65. The company’s 50-day moving average price is $151.22 and its 200 day moving average price is $135.17. The firm has a market capitalization of $741.77 billion, a PE ratio of 16.69 and a beta of 1.28.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 EPS for the quarter, topping the consensus estimate of $2.02 by $0.08. The company had revenue of $52.90 billion during the quarter, compared to analyst estimates of $52.61 billion. Apple had a return on equity of 35.09% and a net margin of 20.74%. On average, equities research analysts forecast that Apple Inc. will post $8.94 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, May 18th. Investors of record on Monday, May 15th were issued a $0.63 dividend. This is an increase from Apple’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Thursday, May 11th. This represents a $2.52 annualized dividend and a dividend yield of 1.77%. Apple’s dividend payout ratio (DPR) is 29.47%.
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Several analysts have weighed in on the company. Mizuho downgraded Apple from a “buy” rating to a “neutral” rating and cut their target price for the company from $160.00 to $150.00 in a research note on Monday. Sanford C. Bernstein reissued an “outperform” rating and issued a $160.00 price objective on shares of Apple in a research note on Monday. Macquarie reissued an “outperform” rating and issued a $170.00 price objective (up previously from $160.00) on shares of Apple in a research note on Tuesday, June 6th. BidaskClub downgraded Apple from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Instinet restated a “buy” rating and issued a $165.00 target price on shares of Apple in a report on Tuesday, June 6th. Ten investment analysts have rated the stock with a hold rating, forty have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $160.63.
In related news, insider Angela J. Ahrendts sold 25,377 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $154.24, for a total value of $3,914,148.48. Following the sale, the insider now owns 81,936 shares of the company’s stock, valued at approximately $12,637,808.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Angela J. Ahrendts sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $147.98, for a total value of $11,098,500.00. Following the completion of the sale, the insider now directly owns 154,116 shares in the company, valued at approximately $22,806,085.68. The disclosure for this sale can be found here. In the last three months, insiders sold 447,411 shares of company stock worth $67,200,745. 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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