Apple Inc. (AAPL) Shares Sold by Welch & Forbes LLC
Welch & Forbes LLC cut its holdings in Apple Inc. (NASDAQ:AAPL) by 0.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 596,331 shares of the iPhone maker’s stock after selling 443 shares during the quarter. Apple accounts for 2.4% of Welch & Forbes LLC’s investment portfolio, making the stock its 3rd largest position. Welch & Forbes LLC’s holdings in Apple were worth $85,884,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of AAPL. Hefty Wealth Partners boosted its stake in shares of Apple by 27.6% in the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after acquiring an additional 174 shares during the last quarter. American Beacon Advisors Inc. acquired a new stake in shares of Apple in the first quarter worth approximately $117,000. State of Alaska Department of Revenue acquired a new stake in shares of Apple in the second quarter worth approximately $149,000. D. Scott Neal Inc. boosted its stake in shares of Apple by 19.8% in the second quarter. D. Scott Neal Inc. now owns 1,212 shares of the iPhone maker’s stock worth $175,000 after acquiring an additional 200 shares during the last quarter. Finally, Advocacy Wealth Management Services LLC boosted its stake in shares of Apple by 4.0% in the second quarter. Advocacy Wealth Management Services LLC now owns 1,337 shares of the iPhone maker’s stock worth $193,000 after acquiring an additional 52 shares during the last quarter. Institutional investors and hedge funds own 60.38% of the company’s stock.
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AAPL has been the topic of a number of research analyst reports. Oppenheimer Holdings, Inc. reaffirmed a “” rating on shares of Apple in a research note on Thursday, August 10th. Loop Capital initiated coverage on Apple in a research note on Monday, July 24th. They issued a “buy” rating and a $172.00 price target on the stock. Guggenheim reaffirmed a “buy” rating and issued a $180.00 price target on shares of Apple in a research note on Friday, July 21st. UBS AG reaffirmed a “buy” rating and issued a $170.00 price target on shares of Apple in a research note on Friday, July 21st. Finally, J P Morgan Chase & Co set a $165.00 price target on Apple and gave the stock a “buy” rating in a research note on Wednesday, July 19th. Seven investment analysts have rated the stock with a hold rating and forty-six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $199.14.
Shares of Apple Inc. (NASDAQ:AAPL) opened at $174.67 on Monday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 1.28. Apple Inc. has a one year low of $104.08 and a one year high of $176.24. The stock has a market cap of $896,810.25, a price-to-earnings ratio of 18.99, a price-to-earnings-growth ratio of 1.40 and a beta of 1.23.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.20. Apple had a net margin of 21.09% and a return on equity of 36.29%. The business had revenue of $52.58 billion for the quarter, compared to the consensus estimate of $50.71 billion. During the same period in the prior year, the business posted $1.50 earnings per share. Apple’s revenue for the quarter was up 12.2% compared to the same quarter last year. equities research analysts anticipate that Apple Inc. will post 11.15 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Monday, November 13th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Friday, November 10th. Apple’s dividend payout ratio (DPR) is presently 27.39%.
In other news, insider Angela J. Ahrendts sold 63,388 shares of the company’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $154.21, for a total value of $9,775,063.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 268,623 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $160.63, for a total transaction of $43,148,912.49. The disclosure for this sale can be found here. Insiders sold 411,389 shares of company stock worth $65,364,467 over the last ninety days. 0.08% of the stock is currently owned by company 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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