Rosenbaum Jay D. Sells 300 Shares of Apple Inc. (AAPL)
Rosenbaum Jay D. reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,555 shares of the iPhone maker’s stock after selling 300 shares during the period. Apple makes up approximately 4.3% of Rosenbaum Jay D.’s investment portfolio, making the stock its 2nd biggest position. Rosenbaum Jay D.’s holdings in Apple were worth $2,243,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in AAPL. Vantage Financial Partners Ltd. Inc. acquired a new position in shares of Apple during the second quarter worth $400,000. Blue Sky Asset Management LLC acquired a new position in shares of Apple during the second quarter worth $108,000. FNY Managed Accounts LLC increased its holdings in shares of Apple by 852.4% during the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after buying an additional 716 shares in the last quarter. Armbruster Capital Management Inc. increased its holdings in shares of Apple by 9.4% during the second quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock worth $131,000 after buying an additional 78 shares in the last quarter. Finally, Crow Point Partners LLC increased its holdings in shares of Apple by 100.0% during the third quarter. Crow Point Partners LLC now owns 1,000 shares of the iPhone maker’s stock worth $153,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds own 60.18% of the company’s stock.
Several research analysts have recently issued reports on the stock. Citigroup reiterated a “buy” rating and set a $200.00 price target (up from $170.00) on shares of Apple in a report on Friday, November 3rd. They noted that the move was a valuation call. UBS Group set a $190.00 price target on shares of Apple and gave the stock a “buy” rating in a report on Monday, December 4th. Zacks Investment Research upgraded shares of Apple from a “hold” rating to a “buy” rating and set a $197.00 price target for the company in a report on Thursday, January 18th. Piper Jaffray Companies reiterated a “buy” rating and set a $200.00 price target on shares of Apple in a report on Tuesday, January 2nd. Finally, Goldman Sachs Group assumed coverage on shares of Apple in a report on Wednesday, February 7th. They set a “neutral” rating and a $161.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the company. Apple has a consensus rating of “Buy” and an average price target of $201.72.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $3.89 EPS for the quarter, beating the Zacks’ consensus estimate of $3.82 by $0.07. The business had revenue of $88.29 billion for the quarter, compared to analysts’ expectations of $87.62 billion. Apple had a net margin of 21.13% and a return on equity of 37.37%. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.36 earnings per share. equities research analysts expect that Apple Inc. will post 11.4 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Monday, February 12th will be given a dividend of $0.63 per share. 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 1.53%. Apple’s dividend payout ratio (DPR) is currently 25.90%.
In other news, insider Eduardo H. Cue sold 65,361 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $171.60, for a total transaction of $11,215,947.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Johny Srouji sold 5,760 shares of the stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $174.40, for a total transaction of $1,004,544.00. Following the transaction, the senior vice president now directly owns 81,560 shares in the company, valued at approximately $14,224,064. The disclosure for this sale can be found here. Insiders have sold a total of 112,771 shares of company stock worth $19,419,429 in the last three months. Insiders own 0.06% 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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