Jennison Associates LLC Trims Holdings in Apple Inc. (AAPL)
Jennison Associates LLC decreased its position in Apple Inc. (NASDAQ:AAPL) by 1.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 26,693,891 shares of the iPhone maker’s stock after selling 429,004 shares during the period. Apple makes up about 4.2% of Jennison Associates LLC’s investment portfolio, making the stock its largest position. Jennison Associates LLC’s holdings in Apple were worth $4,114,062,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in AAPL. Abner Herrman & Brock LLC raised its position in shares of Apple by 1.1% during the second quarter. Abner Herrman & Brock LLC now owns 9,109 shares of the iPhone maker’s stock worth $1,312,000 after purchasing an additional 102 shares during the period. James Investment Research Inc. raised its position in shares of Apple by 1,487.5% during the second quarter. James Investment Research Inc. now owns 89,058 shares of the iPhone maker’s stock worth $12,826,000 after purchasing an additional 83,448 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA raised its position in shares of Apple by 5.7% during the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 12,993 shares of the iPhone maker’s stock worth $1,871,000 after purchasing an additional 700 shares during the period. LVM Capital Management Ltd. MI raised its position in shares of Apple by 1.4% during the second quarter. LVM Capital Management Ltd. MI now owns 165,205 shares of the iPhone maker’s stock worth $23,793,000 after purchasing an additional 2,209 shares during the period. Finally, Vigilant Capital Management LLC raised its position in shares of Apple by 0.8% during the second quarter. Vigilant Capital Management LLC now owns 89,522 shares of the iPhone maker’s stock worth $12,893,000 after purchasing an additional 668 shares during the period. Institutional investors and hedge funds own 60.18% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. Bank of America reaffirmed an “outperform” rating and set a $220.00 target price on shares of Apple in a research report on Thursday, February 8th. ValuEngine lowered Apple from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. Goldman Sachs Group assumed coverage on Apple in a research report on Wednesday, February 7th. They set a “neutral” rating and a $161.00 target price on the stock. William Blair reaffirmed an “outperform” rating on shares of Apple in a research report on Friday, February 2nd. Finally, KeyCorp reaffirmed an “equal weight” rating on shares of Apple in a research report on Sunday, February 4th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirty-three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $201.72.
Apple Inc. (NASDAQ AAPL) opened at $164.34 on Wednesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.24 and a quick ratio of 1.20. Apple Inc. has a 52-week low of $133.25 and a 52-week high of $180.10. The firm has a market capitalization of $825,592.75, a PE ratio of 16.89, a price-to-earnings-growth ratio of 1.23 and a beta of 1.31.
Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share for the quarter, topping the consensus estimate of $3.82 by $0.07. Apple had a return on equity of 37.37% and a net margin of 21.13%. The company had revenue of $88.29 billion for the quarter, compared to analyst estimates of $87.62 billion. During the same period in the prior year, the firm posted $3.36 EPS. The business’s revenue was up 12.7% compared to the same quarter last year. sell-side analysts anticipate that Apple Inc. will post 11.4 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Monday, February 12th will be paid a dividend of $0.63 per share. The ex-dividend date is Friday, February 9th. This represents a $2.52 annualized dividend and a dividend yield of 1.53%. Apple’s dividend payout ratio (DPR) is presently 25.90%.
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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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