Exchange Capital Management Inc. Has $7.96 Million Holdings in Apple Inc. (AAPL)
Exchange Capital Management Inc. trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 29.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 55,247 shares of the iPhone maker’s stock after selling 22,535 shares during the period. Apple comprises 2.7% of Exchange Capital Management Inc.’s investment portfolio, making the stock its 7th biggest holding. Exchange Capital Management Inc.’s holdings in Apple were worth $7,957,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in the company. Lyell Wealth Management LP raised its stake in shares of Apple by 7.7% in the 2nd quarter. Lyell Wealth Management LP now owns 29,948 shares of the iPhone maker’s stock valued at $4,313,000 after acquiring an additional 2,150 shares during the period. Lee Financial Co raised its stake in shares of Apple by 4.5% in the 2nd quarter. Lee Financial Co now owns 20,335 shares of the iPhone maker’s stock valued at $2,929,000 after acquiring an additional 868 shares during the period. Lourd Capital LLC raised its stake in shares of Apple by 4.1% in the 2nd quarter. Lourd Capital LLC now owns 34,297 shares of the iPhone maker’s stock valued at $4,939,000 after acquiring an additional 1,366 shares during the period. Heritage Wealth Advisors raised its stake in shares of Apple by 9.4% in the 2nd quarter. Heritage Wealth Advisors now owns 18,186 shares of the iPhone maker’s stock valued at $2,619,000 after acquiring an additional 1,568 shares during the period. Finally, Silicon Valley Capital Partners raised its stake in shares of Apple by 0.5% in the 2nd quarter. Silicon Valley Capital Partners now owns 28,693 shares of the iPhone maker’s stock valued at $4,132,000 after acquiring an additional 134 shares during the period. 60.33% of the stock is currently owned by institutional investors and hedge funds.
In other Apple news, insider Angela J. Ahrendts sold 63,388 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Craig Federighi sold 63,163 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $158.07, for a total value of $9,984,175.41. Following the sale, the insider now directly owns 359,988 shares of the company’s stock, valued at approximately $56,903,303.16. The disclosure for this sale can be found here. Insiders have sold 541,177 shares of company stock valued at $85,864,804 in the last ninety days. Company insiders own 0.08% of the company’s stock.
Shares of Apple Inc. (NASDAQ:AAPL) opened at $172.50 on Friday. The stock has a market capitalization of $891.00 billion, a P/E ratio of 18.27, a price-to-earnings-growth ratio of 1.39 and a beta of 1.25. The company has a current ratio of 1.39, a quick ratio of 1.35 and a debt-to-equity ratio of 0.68. Apple Inc. has a 12-month low of $104.08 and a 12-month high of $174.26.
Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 36.36% and a net margin of 21.09%. The company’s revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.50 earnings per share. equities analysts forecast that Apple Inc. will post 10.97 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Monday, November 13th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, November 10th. This represents a $2.52 dividend on an annualized basis and a yield of 1.46%. Apple’s payout ratio is currently 28.67%.
A number of research firms have recently issued reports on AAPL. Zacks Investment Research raised shares of Apple from a “hold” rating to a “buy” rating and set a $187.00 price target on the stock in a research note on Tuesday. UBS Group AG (USA) set a $190.00 price target on shares of Apple and gave the company a “buy” rating in a research note on Friday. Maxim Group reissued a “buy” rating and issued a $193.00 price target on shares of Apple in a research note on Thursday. Royal Bank Of Canada boosted their price target on shares of Apple from $180.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Macquarie set a $188.00 target price on shares of Apple and gave the stock a “buy” rating in a research note on Friday. Seven research analysts have rated the stock with a hold rating and forty-six have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $198.38.
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.
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.