Goelzer Investment Management Inc. reduced its stake in Apple Inc. (NASDAQ:AAPL) by 7.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 101,845 shares of the iPhone maker’s stock after selling 7,644 shares during the quarter. Apple makes up approximately 1.8% of Goelzer Investment Management Inc.’s investment portfolio, making the stock its 4th largest position. Goelzer Investment Management Inc.’s holdings in Apple were worth $14,668,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of AAPL. Mn Services Vermogensbeheer B.V. grew its holdings in shares of Apple by 1.9% during the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 142,517 shares of the iPhone maker’s stock worth $19,143,000 after purchasing an additional 2,683 shares during the period. Sippican Capital Advisors grew its holdings in shares of Apple by 0.5% during the 1st quarter. Sippican Capital Advisors now owns 4,912 shares of the iPhone maker’s stock worth $706,000 after purchasing an additional 26 shares during the period. Pinnacle Advisory Group Inc. grew its holdings in shares of Apple by 11.3% during the 1st quarter. Pinnacle Advisory Group Inc. now owns 15,241 shares of the iPhone maker’s stock worth $2,190,000 after purchasing an additional 1,553 shares during the period. Waldron LP grew its holdings in shares of Apple by 37.9% during the 1st quarter. Waldron LP now owns 46,930 shares of the iPhone maker’s stock worth $6,722,000 after purchasing an additional 12,898 shares during the period. Finally, Brightworth grew its holdings in shares of Apple by 8.6% during the 1st quarter. Brightworth now owns 3,594 shares of the iPhone maker’s stock worth $516,000 after purchasing an additional 284 shares during the period. Institutional investors own 60.38% of the company’s stock.

In other news, insider Daniel J. Riccio sold 15,641 shares of Apple stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $172.35, for a total value of $2,695,726.35. Following the completion of the transaction, the insider now owns 39,682 shares in the company, valued at $6,839,192.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 268,623 shares of Apple stock in a transaction that occurred on Monday, August 28th. The shares were 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 410,352 shares of company stock valued at $65,356,512 in the last quarter. 0.08% of the stock is currently owned by corporate insiders.

Apple Inc. (NASDAQ:AAPL) opened at $170.15 on Friday. Apple Inc. has a one year low of $108.25 and a one year high of $176.24. The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.73. The stock has a market cap of $878,480.00, a P/E ratio of 18.62, a PEG ratio of 1.38 and a beta of 1.25.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.20. Apple had a net margin of 21.09% and a return on equity of 36.29%. The company had revenue of $52.58 billion during the quarter, compared to analysts’ expectations of $50.71 billion. During the same quarter in the previous year, the company posted $1.50 earnings per share. Apple’s quarterly revenue was up 12.2% compared to the same quarter last year. sell-side analysts forecast that Apple Inc. will post 11.15 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Monday, November 13th were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date was Friday, November 10th. Apple’s dividend payout ratio (DPR) is currently 27.42%.

A number of equities analysts have recently weighed in on AAPL shares. UBS AG reiterated a “buy” rating and set a $170.00 price target on shares of Apple in a report on Monday, July 31st. Wells Fargo & Company reiterated a “market perform” rating and set a $140.00 price target on shares of Apple in a report on Saturday, July 22nd. KeyCorp reiterated an “equal weight” rating on shares of Apple in a report on Friday, August 4th. Barclays PLC reiterated a “hold” rating and set a $146.00 price target on shares of Apple in a report on Monday, September 4th. Finally, Royal Bank Of Canada increased their price target on Apple from $176.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, September 1st. Seven investment analysts have rated the stock with a hold rating and forty-six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $200.24.

WARNING: “Apple Inc. (AAPL) is Goelzer Investment Management Inc.’s 4th Largest Position” was first published by Watch List News and is the property of of Watch List News. If you are reading this article on another domain, it was illegally stolen and reposted in violation of US and international trademark & copyright legislation. The legal version of this article can be read at https://www.watchlistnews.com/apple-inc-aapl-is-goelzer-investment-management-inc-s-4th-largest-position/1711031.html.

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.

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL).

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Receive News & Ratings for Apple Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.