Alley Co LLC Increases Holdings in Apple Inc. (AAPL)
Alley Co LLC grew its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,286 shares of the iPhone maker’s stock after buying an additional 437 shares during the period. Apple accounts for 2.1% of Alley Co LLC’s portfolio, making the stock its 14th biggest holding. Alley Co LLC’s holdings in Apple were worth $5,658,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. FC Advisory LLC raised its stake in Apple by 0.4% during the 2nd quarter. FC Advisory LLC now owns 2,576 shares of the iPhone maker’s stock valued at $371,000 after purchasing an additional 10 shares during the period. Lenox Wealth Advisors Inc. raised its stake in Apple by 0.4% during the 2nd quarter. Lenox Wealth Advisors Inc. now owns 4,971 shares of the iPhone maker’s stock valued at $716,000 after purchasing an additional 20 shares during the period. BerganKDV Wealth Management LLC raised its stake in Apple by 0.4% during the 2nd quarter. BerganKDV Wealth Management LLC now owns 5,614 shares of the iPhone maker’s stock valued at $809,000 after purchasing an additional 20 shares during the period. Welch Investments LLC increased its stake in Apple by 1.5% in the 2nd quarter. Welch Investments LLC now owns 1,607 shares of the iPhone maker’s stock worth $231,000 after acquiring an additional 23 shares during the last quarter. Finally, Accurate Investment Solutions Inc. increased its stake in Apple by 0.4% in the 2nd quarter. Accurate Investment Solutions Inc. now owns 6,600 shares of the iPhone maker’s stock worth $951,000 after acquiring an additional 26 shares during the last quarter. 60.38% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Apple Inc. (AAPL) opened at $170.15 on Friday. The stock has a market capitalization of $873,603.19, a PE ratio of 18.49, a price-to-earnings-growth ratio of 1.36 and a beta of 1.23. The company has a current ratio of 1.28, a quick ratio of 1.23 and a debt-to-equity ratio of 0.73. Apple Inc. has a fifty-two week low of $108.25 and a fifty-two week high of $176.24.
Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.20. Apple had a return on equity of 36.29% and a net margin of 21.09%. The business had revenue of $52.58 billion for the quarter, compared to analysts’ expectations of $50.71 billion. During the same quarter in the previous year, the firm earned $1.50 earnings per share. The business’s revenue was up 12.2% compared to the same quarter last year. sell-side analysts predict that Apple Inc. will post 11.18 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Monday, November 13th were given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.48%. The ex-dividend date was Friday, November 10th. Apple’s dividend payout ratio (DPR) is presently 27.39%.
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In other news, CEO Timothy D. Cook sold 268,623 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Johny Srouji sold 5,892 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $161.00, for a total value of $948,612.00. Following the sale, the insider now directly owns 70,358 shares in the company, valued at approximately $11,327,638. The disclosure for this sale can be found here. Insiders sold a total of 410,352 shares of company stock worth $65,356,512 in the last 90 days. 0.08% of the stock is currently owned by insiders.
AAPL has been the topic of a number of research reports. Barclays PLC reiterated a “hold” rating and issued a $146.00 target price on shares of Apple in a report on Monday, September 4th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $180.00 target price on shares of Apple in a report on Monday, September 11th. Morgan Stanley reiterated an “overweight” rating and issued a $194.00 target price (up previously from $182.00) on shares of Apple in a report on Tuesday, September 12th. Credit Suisse Group reiterated an “outperform” rating and issued a $170.00 target price on shares of Apple in a report on Tuesday, July 25th. Finally, Macquarie boosted their price objective on Apple from $170.00 to $180.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. Seven equities research analysts have rated the stock with a hold rating and forty-six have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $200.24.
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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