Kimelman & Baird LLC Reduces Stock Holdings in Apple Inc. (NASDAQ:AAPL)
Kimelman & Baird LLC lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,496 shares of the iPhone maker’s stock after selling 2,400 shares during the period. Apple makes up 3.6% of Kimelman & Baird LLC’s investment portfolio, making the stock its 8th largest holding. Kimelman & Baird LLC’s holdings in Apple were worth $26,316,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the stock. Avondale Wealth Management lifted its stake in shares of Apple by 25.4% in the second quarter. Avondale Wealth Management now owns 316 shares of the iPhone maker’s stock worth $63,000 after buying an additional 64 shares in the last quarter. Horan Securities Inc. lifted its position in Apple by 64.2% during the second quarter. Horan Securities Inc. now owns 565 shares of the iPhone maker’s stock valued at $112,000 after purchasing an additional 221 shares during the period. Kahn Brothers Group Inc. DE bought a new position in Apple during the third quarter valued at approximately $112,000. Belvedere Advisors LLC bought a new position in Apple during the second quarter valued at approximately $119,000. Finally, Fulcrum Equity Management bought a new position in Apple during the third quarter valued at approximately $135,000. 59.19% of the stock is currently owned by institutional investors and hedge funds.
In other Apple news, SVP Deirdre O’brien sold 12,459 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $234.04, for a total transaction of $2,915,904.36. Following the completion of the transaction, the senior vice president now owns 57,819 shares in the company, valued at $13,531,958.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey E. Williams sold 67,554 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $219.04, for a total transaction of $14,797,028.16. Following the transaction, the chief operating officer now owns 237,517 shares of the company’s stock, valued at approximately $52,025,723.68. The disclosure for this sale can be found here. Insiders have sold 182,998 shares of company stock valued at $42,351,593 in the last quarter. 0.05% of the stock is owned by company insiders.
Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Wednesday, October 30th. The iPhone maker reported $3.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.84 by $0.19. Apple had a net margin of 21.24% and a return on equity of 53.82%. The firm had revenue of $64.04 billion during the quarter, compared to analysts’ expectations of $62.86 billion. During the same period in the prior year, the company posted $2.91 earnings per share. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, analysts forecast that Apple Inc. will post 13.18 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a dividend of $0.77 per share. The ex-dividend date was Thursday, November 7th. This represents a $3.08 annualized dividend and a yield of 1.15%. Apple’s dividend payout ratio (DPR) is currently 25.90%.
A number of research analysts recently weighed in on AAPL shares. Credit Suisse Group restated a “neutral” rating and set a $221.00 price objective on shares of Apple in a research report on Tuesday, November 19th. Goldman Sachs Group set a $192.00 price objective on shares of Apple and gave the company a “neutral” rating in a research report on Wednesday, November 6th. New Street Research set a $155.00 price objective on shares of Apple and gave the company a “sell” rating in a research report on Tuesday, September 10th. Needham & Company LLC increased their price objective on shares of Apple to $280.00 and gave the company an “average” rating in a research report on Thursday, October 31st. Finally, Zacks Investment Research downgraded shares of Apple from a “hold” rating to a “sell” rating and set a $248.00 price objective on the stock. in a research report on Monday, October 14th. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Apple presently has a consensus rating of “Hold” and a consensus price target of $248.97.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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