Financial Consulate Inc. Has $3.98 Million Position in Apple Inc. (AAPL)

Financial Consulate Inc. increased its holdings in Apple Inc. (NASDAQ:AAPL) by 2.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,604 shares of the iPhone maker’s stock after buying an additional 675 shares during the period. Apple accounts for approximately 2.3% of Financial Consulate Inc.’s portfolio, making the stock its 9th largest holding. Financial Consulate Inc.’s holdings in Apple were worth $3,976,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Harbour Capital Advisors LLC raised its position in Apple by 14,030.2% during the second quarter. Harbour Capital Advisors LLC now owns 4,515,315 shares of the iPhone maker’s stock valued at $31,352,000 after purchasing an additional 4,483,360 shares in the last quarter. Canada Pension Plan Investment Board raised its position in 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 valued at $1,334,527,000 after purchasing an additional 1,749,797 shares in the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new stake in Apple during the first quarter valued at about $190,134,000. State of Wisconsin Investment Board raised its position in Apple by 15.5% during the first quarter. State of Wisconsin Investment Board now owns 5,578,551 shares of the iPhone maker’s stock valued at $801,415,000 after purchasing an additional 749,158 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its position in Apple by 502.9% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 859,200 shares of the iPhone maker’s stock valued at $123,742,000 after purchasing an additional 716,683 shares in the last quarter. Institutional investors own 60.38% of the company’s stock.

In related news, insider Angela J. Ahrendts sold 63,388 shares of the firm’s stock in a transaction on Thursday, October 5th. The shares were 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 the SEC website. Also, insider Daniel J. Riccio sold 15,641 shares of the firm’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $172.35, for a total transaction of $2,695,726.35. Following the transaction, the insider now directly owns 39,682 shares of the company’s stock, valued at approximately $6,839,192.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 410,352 shares of company stock valued at $65,356,512. 0.08% of the stock is currently owned by corporate insiders.

Apple Inc. (NASDAQ:AAPL) opened at $170.15 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.23 and a debt-to-equity ratio of 0.73. Apple Inc. has a fifty-two week low of $108.25 and a fifty-two week high of $176.24. The stock has a market cap of $878,480.00, a price-to-earnings ratio of 18.62, a P/E/G ratio of 1.38 and a beta of 1.25.

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 the Thomson Reuters’ consensus estimate of $1.87 by $0.20. Apple had a net margin of 21.09% and a return on equity of 36.29%. The firm had revenue of $52.58 billion during the quarter, compared to analysts’ expectations of $50.71 billion. During the same quarter last year, the company posted $1.50 earnings per share. The firm’s revenue was up 12.2% compared to the same quarter last year. analysts forecast that Apple Inc. will post 11.15 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Monday, November 13th were issued a dividend of $0.63 per share. The ex-dividend date was Friday, November 10th. This represents a $2.52 annualized dividend and a dividend yield of 1.48%. Apple’s dividend payout ratio (DPR) is presently 27.42%.

A number of equities research analysts have weighed in on the company. Vetr upgraded Apple from a “buy” rating to a “strong-buy” rating and set a $173.06 price target on the stock in a research report on Friday, September 22nd. Rosenblatt Securities reiterated a “hold” rating and issued a $150.00 price objective on shares of Apple in a report on Sunday, October 15th. Citigroup Inc. reiterated a “buy” rating and issued a $200.00 price objective (up previously from $170.00) on shares of Apple in a report on Friday, November 3rd. They noted that the move was a valuation call. Bank of America Corporation reiterated a “buy” rating and issued a $180.00 price objective on shares of Apple in a report on Tuesday, September 26th. Finally, Pacific Crest upgraded Apple from a “sector weight” rating to an “overweight” rating and set a $187.00 price objective on the stock in a report on Monday, October 16th. Seven investment analysts have rated the stock with a hold rating and forty-six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $200.24.

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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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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