Lederer & Associates Investment Counsel CA Decreases Holdings in Apple Inc. (AAPL)

Lederer & Associates Investment Counsel CA reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,603 shares of the iPhone maker’s stock after selling 775 shares during the period. Apple comprises approximately 5.4% of Lederer & Associates Investment Counsel CA’s holdings, making the stock its biggest position. Lederer & Associates Investment Counsel CA’s holdings in Apple were worth $6,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. AdvisorNet Financial Inc boosted its holdings in shares of Apple by 24.1% in the 2nd quarter. AdvisorNet Financial Inc now owns 55,149 shares of the iPhone maker’s stock valued at $10,209,000 after buying an additional 10,714 shares during the period. Integrated Wealth Concepts LLC boosted its holdings in shares of Apple by 1.8% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 15,812 shares of the iPhone maker’s stock valued at $2,960,000 after buying an additional 283 shares during the period. Lincoln Capital Corp boosted its holdings in shares of Apple by 5.0% in the 2nd quarter. Lincoln Capital Corp now owns 19,706 shares of the iPhone maker’s stock valued at $3,648,000 after buying an additional 937 shares during the period. Iberiabank Corp boosted its holdings in shares of Apple by 36.3% in the 2nd quarter. Iberiabank Corp now owns 54,192 shares of the iPhone maker’s stock valued at $10,031,000 after buying an additional 14,441 shares during the period. Finally, Kaizen Advisory LLC boosted its holdings in shares of Apple by 139.0% in the 2nd quarter. Kaizen Advisory LLC now owns 11,860 shares of the iPhone maker’s stock valued at $2,195,000 after buying an additional 6,898 shares during the period. 58.44% of the stock is owned by institutional investors.

AAPL stock opened at $204.47 on Friday. Apple Inc. has a 52 week low of $150.24 and a 52 week high of $233.47. The stock has a market cap of $1,031.93 billion, a price-to-earnings ratio of 17.17, a P/E/G ratio of 1.51 and a beta of 1.26. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.09 and a current ratio of 1.12.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, November 1st. The iPhone maker reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.78 by $0.13. Apple had a net margin of 22.41% and a return on equity of 48.68%. The company had revenue of $62.90 billion for the quarter, compared to the consensus estimate of $61.55 billion. During the same period in the previous year, the firm earned $2.07 EPS. Apple’s revenue was up 19.6% on a year-over-year basis. On average, research analysts expect that Apple Inc. will post 13.35 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Monday, November 12th will be given a dividend of $0.73 per share. The ex-dividend date is Thursday, November 8th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.43%. Apple’s dividend payout ratio (DPR) is 24.52%.

In related news, SVP Angela J. Ahrendts sold 14,194 shares of the business’s stock in a transaction that occurred on Friday, October 5th. The shares were sold at an average price of $227.96, for a total value of $3,235,664.24. Following the sale, the senior vice president now directly owns 105,538 shares in the company, valued at approximately $24,058,442.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 265,160 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $217.79, for a total transaction of $57,749,196.40. The disclosure for this sale can be found here. Insiders have sold a total of 480,737 shares of company stock worth $107,157,170 over the last 90 days. 0.08% of the stock is owned by insiders.

Several research analysts have recently commented on AAPL shares. Sanford C. Bernstein set a $190.00 price target on shares of Apple and gave the company a “neutral” rating in a report on Monday, July 16th. Nomura reaffirmed a “neutral” rating and issued a $175.00 price target on shares of Apple in a report on Monday, July 16th. Goldman Sachs Group set a $164.00 price target on shares of Apple and gave the company a “neutral” rating in a report on Friday, July 20th. BMO Capital Markets lifted their price target on shares of Apple from $171.00 to $184.00 and gave the company a “market perform” rating in a report on Monday, July 23rd. Finally, Macquarie set a $202.00 price target on shares of Apple and gave the company a “buy” rating in a report on Monday, July 23rd. Three analysts have rated the stock with a sell rating, twenty have issued a hold rating and twenty-eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $224.27.

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About Apple

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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