Brandywine Global Investment Management LLC Cuts Holdings in Apple Inc. (AAPL)
Brandywine Global Investment Management LLC decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 13.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,294,665 shares of the iPhone maker’s stock after selling 518,877 shares during the quarter. Apple makes up 3.0% of Brandywine Global Investment Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Brandywine Global Investment Management LLC owned approximately 0.06% of Apple worth $474,498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently modified their holdings of AAPL. Vantage Financial Partners Ltd. Inc. acquired a new position in shares of Apple during the 2nd quarter worth about $400,000. Blue Sky Asset Management LLC acquired a new stake in shares of Apple in the 2nd quarter valued at about $108,000. FNY Managed Accounts LLC boosted its position in shares of Apple by 852.4% in the 2nd quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock valued at $115,000 after purchasing an additional 716 shares during the period. Hefty Wealth Partners boosted its position in shares of Apple by 27.6% in the 2nd quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock valued at $115,000 after purchasing an additional 174 shares during the period. Finally, American Beacon Advisors Inc. acquired a new stake in shares of Apple in the 1st quarter valued at about $117,000. Institutional investors own 59.56% of the company’s stock.
In other news, insider Johny Srouji sold 10,368 shares of the firm’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $174.68, for a total transaction of $1,811,082.24. Following the sale, the insider now owns 81,560 shares in the company, valued at $14,246,900.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Angela J. Ahrendts sold 63,388 shares of the firm’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $154.21, for a total value of $9,775,063.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 217,326 shares of company stock worth $35,290,561. 0.08% of the stock is owned by insiders.
Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.20. The firm had revenue of $52.58 billion for the quarter, compared to analysts’ expectations of $50.71 billion. Apple had a return on equity of 36.29% and a net margin of 21.09%. Apple’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.50 EPS. equities research analysts forecast that Apple Inc. will post 11.18 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, November 13th were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Friday, November 10th. Apple’s dividend payout ratio (DPR) is presently 27.39%.
A number of analysts recently issued reports on AAPL shares. Barclays reissued a “hold” rating and issued a $146.00 target price on shares of Apple in a research report on Monday, September 4th. Royal Bank Of Canada reissued an “outperform” rating and issued a $180.00 target price on shares of Apple in a research report on Monday, September 11th. Morgan Stanley reissued an “overweight” rating and issued a $194.00 target price (up from $182.00) on shares of Apple in a research report on Tuesday, September 12th. Mizuho set a $160.00 target price on Apple and gave the company a “hold” rating in a research report on Wednesday, October 18th. Finally, Vetr cut Apple from a “buy” rating to a “hold” rating and set a $178.34 target price for the company. in a research report on Friday, December 1st. Seven research analysts have rated the stock with a hold rating, forty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $200.27.
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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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