Apple Inc. (AAPL) Position Trimmed by Oregon Public Employees Retirement Fund
Oregon Public Employees Retirement Fund decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,674,688 shares of the iPhone maker’s stock after selling 26,433 shares during the quarter. Apple makes up about 4.2% of Oregon Public Employees Retirement Fund’s portfolio, making the stock its largest position. Oregon Public Employees Retirement Fund’s holdings in Apple were worth $258,103,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the stock. Stone House Investment Management LLC raised its holdings in Apple by 0.4% in the 2nd quarter. Stone House Investment Management LLC now owns 1,570 shares of the iPhone maker’s stock valued at $226,000 after acquiring an additional 6 shares in the last quarter. Jackson Grant Investment Advisers Inc. raised its holdings in Apple by 0.3% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 5,431 shares of the iPhone maker’s stock valued at $782,000 after acquiring an additional 17 shares in the last quarter. Karp Capital Management Corp raised its holdings in Apple by 1.6% in the 2nd quarter. Karp Capital Management Corp now owns 1,427 shares of the iPhone maker’s stock valued at $206,000 after acquiring an additional 22 shares in the last quarter. Welch Investments LLC raised its holdings in Apple by 1.5% in the 2nd quarter. Welch Investments LLC now owns 1,607 shares of the iPhone maker’s stock valued at $231,000 after acquiring an additional 23 shares in the last quarter. Finally, Berkeley Capital Partners LLC raised its holdings in Apple by 0.6% in the 2nd quarter. Berkeley Capital Partners LLC now owns 4,369 shares of the iPhone maker’s stock valued at $629,000 after acquiring an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 60.23% of the company’s stock.
Several equities analysts have commented on the company. Mizuho reaffirmed a “neutral” rating and issued a $175.00 price target (up previously from $160.00) on shares of Apple in a report on Friday, January 19th. Zacks Investment Research cut Apple from a “buy” rating to a “hold” rating in a report on Friday, January 19th. Barclays set a $174.00 price target on Apple and gave the company a “neutral” rating in a report on Thursday, January 18th. Bank of America cut Apple from a “buy” rating to a “neutral” rating and upped their price target for the company from $180.00 to $220.00 in a report on Wednesday, January 17th. Finally, Atlantic Securities cut Apple from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $177.35 to $190.00 in a report on Monday, January 22nd. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirty-three have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $200.43.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.82 by $0.07. The firm had revenue of $88.29 billion during the quarter, compared to analysts’ expectations of $87.62 billion. Apple had a return on equity of 37.37% and a net margin of 21.13%. The business’s revenue was up 12.7% on a year-over-year basis. During the same period last year, the firm posted $3.36 EPS. equities analysts anticipate that Apple Inc. will post 11.4 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Monday, February 12th will be given a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 9th. This represents a $2.52 dividend on an annualized basis and a yield of 1.62%. Apple’s payout ratio is 25.90%.
In other Apple news, insider Daniel J. Riccio sold 15,641 shares of the stock in a transaction on Friday, January 5th. The stock was sold at an average price of $174.78, for a total value of $2,733,733.98. Following the transaction, the insider now directly owns 13,739 shares in the company, valued at approximately $2,401,302.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Johny Srouji sold 10,368 shares of the stock in a transaction on Friday, November 24th. The shares were sold at an average price of $174.68, for a total value of $1,811,082.24. Following the completion of the transaction, the insider now owns 81,560 shares in the company, valued at $14,246,900.80. The disclosure for this sale can be found here. Insiders sold a total of 128,412 shares of company stock worth $22,115,155 over the last quarter. Corporate 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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