Vision Capital Management Inc. Has $15.01 Million Stake in Apple Inc. (AAPL)
Vision Capital Management Inc. lessened its stake in Apple Inc. (NASDAQ:AAPL) by 9.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,225 shares of the iPhone maker’s stock after selling 10,943 shares during the period. Apple accounts for 5.1% of Vision Capital Management Inc.’s portfolio, making the stock its 4th largest holding. Vision Capital Management Inc.’s holdings in Apple were worth $15,010,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of the stock. Stone House Investment Management LLC raised its holdings in shares of Apple by 0.4% in the 2nd quarter. Stone House Investment Management LLC now owns 1,570 shares of the iPhone maker’s stock valued at $226,000 after purchasing an additional 6 shares during the period. Jackson Grant Investment Advisers Inc. grew its stake in Apple by 0.3% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 5,431 shares of the iPhone maker’s stock valued at $782,000 after buying an additional 17 shares during the last quarter. Lenox Wealth Advisors Inc. grew its position in shares of Apple by 0.4% during the 2nd quarter. Lenox Wealth Advisors Inc. now owns 4,971 shares of the iPhone maker’s stock worth $716,000 after purchasing an additional 20 shares in the last quarter. Karp Capital Management Corp grew its position in shares of Apple by 1.6% during the 2nd quarter. Karp Capital Management Corp now owns 1,427 shares of the iPhone maker’s stock worth $206,000 after purchasing an additional 22 shares in the last quarter. Finally, Welch Investments LLC boosted its position in shares of Apple by 1.5% during the 2nd quarter. Welch Investments LLC now owns 1,607 shares of the iPhone maker’s stock worth $231,000 after acquiring an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 59.56% of the company’s stock.
In related news, insider Johny Srouji sold 10,368 shares of the firm’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $174.68, for a total transaction of $1,811,082.24. Following the completion of the transaction, the insider now directly owns 81,560 shares in the company, valued at approximately $14,246,900.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Angela J. Ahrendts sold 63,388 shares of the firm’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $154.21, for a total value of $9,775,063.48. The disclosure for this sale can be found here. Insiders have sold a total of 217,326 shares of company stock valued at $35,290,561 over the last 90 days. 0.08% of the stock is currently owned by company insiders.
AAPL has been the subject of several research reports. Oppenheimer reissued a “” rating on shares of Apple in a research note on Thursday, August 10th. Vetr raised shares of Apple from a “hold” rating to a “buy” rating and set a $165.48 price target for the company in a research note on Thursday, August 10th. Longbow Research restated a “buy” rating and issued a $173.00 price target on shares of Apple in a report on Friday, August 11th. Sanford C. Bernstein restated an “outperform” rating and issued a $175.00 price target on shares of Apple in a report on Monday, August 14th. Finally, Barclays restated a “hold” rating and set a $146.00 price target on shares of Apple in a report on Tuesday, August 15th. Seven investment analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $200.27.
Shares of Apple Inc. (AAPL) opened at $169.32 on Friday. Apple Inc. has a 52 week low of $110.60 and a 52 week high of $176.24. The stock has a market capitalization of $867,750.06, a price-to-earnings ratio of 18.37, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22. The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.73.
Apple (NASDAQ:AAPL) last issued 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 business had revenue of $52.58 billion during the quarter, compared to the consensus estimate of $50.71 billion. Apple had a return on equity of 36.29% and a net margin of 21.09%. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period last year, the company earned $1.50 EPS. sell-side analysts anticipate that Apple Inc. will post 11.18 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Monday, November 13th were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date was Friday, November 10th. Apple’s dividend payout ratio is presently 27.39%.
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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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