Palouse Capital Management Inc. lowered its position in Apple Inc. (NASDAQ:AAPL) by 2.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,944 shares of the iPhone maker’s stock after selling 678 shares during the quarter. Palouse Capital Management Inc.’s holdings in Apple were worth $4,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. FC Advisory LLC raised its holdings in shares of Apple by 0.4% during the second quarter. FC Advisory LLC now owns 2,576 shares of the iPhone maker’s stock valued at $371,000 after acquiring an additional 10 shares in the last quarter. Lenox Wealth Advisors Inc. raised its holdings in shares of Apple by 0.4% during the second quarter. Lenox Wealth Advisors Inc. now owns 4,971 shares of the iPhone maker’s stock valued at $716,000 after acquiring an additional 20 shares in the last quarter. BerganKDV Wealth Management LLC raised its holdings in shares of Apple by 0.4% during the second quarter. BerganKDV Wealth Management LLC now owns 5,614 shares of the iPhone maker’s stock valued at $809,000 after acquiring an additional 20 shares in the last quarter. Sippican Capital Advisors raised its holdings in shares of Apple by 0.5% during the first quarter. Sippican Capital Advisors now owns 4,912 shares of the iPhone maker’s stock valued at $706,000 after acquiring an additional 26 shares in the last quarter. Finally, Accurate Investment Solutions Inc. raised its holdings in shares of Apple by 0.4% during the second quarter. Accurate Investment Solutions Inc. now owns 6,600 shares of the iPhone maker’s stock valued at $951,000 after acquiring an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 60.33% of the company’s stock.

In other news, insider Johny Srouji sold 5,892 shares of the business’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $161.00, for a total value of $948,612.00. Following the sale, the insider now owns 70,358 shares of the company’s stock, valued at $11,327,638. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Angela J. Ahrendts sold 63,388 shares of the business’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $154.21, for a total transaction of $9,775,063.48. The disclosure for this sale can be found here. Insiders sold 541,177 shares of company stock valued at $85,864,804 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.20. The firm had revenue of $52.58 billion during the quarter, compared to analysts’ expectations of $50.71 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.50 earnings per share.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Monday, November 13th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.50%. Apple’s dividend payout ratio (DPR) is presently 28.64%.

Several brokerages recently weighed in on AAPL. BMO Capital Markets reaffirmed an “outperform” rating and issued a $170.00 price target on shares of Apple in a research note on Tuesday, July 25th. Maxim Group reissued a “buy” rating and issued a $193.00 target price on shares of Apple in a research note on Thursday. Barclays PLC reissued a “hold” rating and issued a $146.00 target price on shares of Apple in a research note on Tuesday, August 15th. Vetr raised Apple from a “hold” rating to a “buy” rating and set a $166.96 target price on the stock in a research note on Thursday, August 17th. Finally, J P Morgan Chase & Co set a $165.00 target price on Apple and gave the stock a “buy” rating in a research note on Wednesday, July 19th. Eight analysts have rated the stock with a hold rating and forty-five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $193.36.

ILLEGAL ACTIVITY WARNING: “Apple Inc. (AAPL) Stake Lowered by Palouse Capital Management Inc.” was posted by Watch List News and is the property of of Watch List News. If you are reading this story on another site, it was illegally stolen and republished in violation of United States and international trademark and copyright legislation. The original version of this story can be viewed at https://www.watchlistnews.com/apple-inc-aapl-stake-lowered-by-palouse-capital-management-inc/1674620.html.

About Apple

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.

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.