Murphy Capital Management Inc. Reduces Holdings in Apple Inc. (AAPL)

Murphy Capital Management Inc. trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 172,586 shares of the iPhone maker’s stock after selling 6,067 shares during the period. Apple accounts for 3.7% of Murphy Capital Management Inc.’s portfolio, making the stock its biggest position. Murphy Capital Management Inc.’s holdings in Apple were worth $24,855,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Norges Bank acquired a new stake in shares of Apple during the fourth quarter worth $5,625,709,000. Schwab Charles Investment Management Inc. grew its position in shares of Apple by 2.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 17,637,648 shares of the iPhone maker’s stock worth $2,533,825,000 after acquiring an additional 471,057 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Apple by 1.2% during the first quarter. Fisher Asset Management LLC now owns 11,638,395 shares of the iPhone maker’s stock worth $1,671,972,000 after acquiring an additional 140,368 shares during the last quarter. Canada Pension Plan Investment Board grew its position in shares of Apple by 23.2% during the first quarter. Canada Pension Plan Investment Board now owns 9,289,482 shares of the iPhone maker’s stock worth $1,334,527,000 after acquiring an additional 1,749,797 shares during the last quarter. Finally, Sanders Capital LLC grew its position in shares of Apple by 1.2% during the first quarter. Sanders Capital LLC now owns 8,007,685 shares of the iPhone maker’s stock worth $1,177,522,000 after acquiring an additional 91,860 shares during the last quarter. 60.45% of the stock is currently owned by institutional investors.

In related news, insider Johny Srouji sold 5,892 shares of the stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $161.00, for a total transaction of $948,612.00. Following the completion of the transaction, the insider now owns 70,358 shares of the company’s stock, valued at approximately $11,327,638. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 268,623 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $160.63, for a total transaction of $43,148,912.49. The disclosure for this sale can be found here. In the last three months, insiders sold 432,930 shares of company stock valued at $69,008,577. Corporate insiders own 0.08% of the company’s stock.

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Shares of Apple Inc. (NASDAQ:AAPL) traded up 1.01% during mid-day trading on Friday, reaching $159.88. 49,114,602 shares of the company’s stock traded hands. The company’s 50-day moving average price is $158.97 and its 200-day moving average price is $149.42. The stock has a market capitalization of $825.82 billion, a PE ratio of 18.15 and a beta of 1.27. Apple Inc. has a 12-month low of $104.08 and a 12-month high of $164.94.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.10. Apple had a net margin of 20.87% and a return on equity of 35.40%. The business had revenue of $45.41 billion during the quarter, compared to analysts’ expectations of $44.94 billion. During the same quarter in the prior year, the company posted $1.42 EPS. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts anticipate that Apple Inc. will post $9.01 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were paid a $0.63 dividend. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $2.52 annualized dividend and a dividend yield of 1.58%. Apple’s dividend payout ratio (DPR) is 28.64%.

Several research firms have recently commented on AAPL. Keefe, Bruyette & Woods set a $170.00 price target on shares of Apple and gave the stock a “buy” rating in a research report on Monday, May 22nd. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $170.00 price target on shares of Apple in a research report on Wednesday, June 21st. Nomura restated a “buy” rating and set a $165.00 price target on shares of Apple in a research report on Wednesday, July 5th. Maxim Group upped their price target on shares of Apple from $171.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, June 19th. Finally, UBS AG restated a “buy” rating and set a $170.00 price target on shares of Apple in a research report on Wednesday, May 31st. Eleven investment analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $187.63.

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)

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