Bray Capital Advisors lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,456 shares of the iPhone maker’s stock after selling 710 shares during the quarter. Apple makes up approximately 1.7% of Bray Capital Advisors’ portfolio, making the stock its 15th largest holding. Bray Capital Advisors’ holdings in Apple were worth $4,358,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Origin Asset Management LLP grew its stake in shares of Apple by 8.7% in the third quarter. Origin Asset Management LLP now owns 86,543 shares of the iPhone maker’s stock worth $19,383,000 after acquiring an additional 6,900 shares during the last quarter. Shikiar Asset Management Inc. grew its stake in shares of Apple by 0.6% in the third quarter. Shikiar Asset Management Inc. now owns 101,634 shares of the iPhone maker’s stock worth $22,763,000 after acquiring an additional 575 shares during the last quarter. B & T Capital Management DBA Alpha Capital Management grew its stake in shares of Apple by 3.0% in the third quarter. B & T Capital Management DBA Alpha Capital Management now owns 24,433 shares of the iPhone maker’s stock worth $5,472,000 after acquiring an additional 719 shares during the last quarter. Beacon Investment Advisory Services Inc. grew its stake in shares of Apple by 1.3% in the third quarter. Beacon Investment Advisory Services Inc. now owns 111,928 shares of the iPhone maker’s stock worth $25,068,000 after acquiring an additional 1,442 shares during the last quarter. Finally, Evermay Wealth Management LLC grew its stake in shares of Apple by 4.0% in the third quarter. Evermay Wealth Management LLC now owns 25,081 shares of the iPhone maker’s stock worth $5,617,000 after acquiring an additional 975 shares during the last quarter. 58.61% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:AAPL opened at $257.24 on Thursday. Apple Inc. has a 52 week low of $142.00 and a 52 week high of $258.19. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.50 and a current ratio of 1.54. The company’s fifty day moving average is $233.86 and its 200-day moving average is $208.97. The company has a market capitalization of $1,144.14 billion, a PE ratio of 21.73, a P/E/G ratio of 1.82 and a beta of 1.25.
Apple (NASDAQ:AAPL) last issued its earnings results on Wednesday, October 30th. The iPhone maker reported $3.03 EPS for the quarter, beating the Thomson Reuters’ 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 company had revenue of $64.04 billion for the quarter, compared to the consensus estimate of $62.86 billion. During the same quarter in the previous year, the company earned $2.91 EPS. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, analysts forecast that Apple Inc. will post 13.17 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be paid a $0.77 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $3.08 annualized dividend and a dividend yield of 1.20%. Apple’s dividend payout ratio is presently 25.90%.
In related news, CEO Timothy D. Cook sold 265,160 shares of Apple stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $206.17, for a total value of $54,668,037.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Arthur D. Levinson sold 17,500 shares of Apple stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $201.69, for a total value of $3,529,575.00. Following the completion of the transaction, the director now directly owns 1,150,783 shares of the company’s stock, valued at $232,101,423.27. The disclosure for this sale can be found here. Insiders sold a total of 428,264 shares of company stock worth $90,909,405 in the last 90 days. 0.05% of the stock is owned by corporate insiders.
Several brokerages have recently issued reports on AAPL. Rosenblatt Securities set a $150.00 price objective on shares of Apple and gave the stock a “sell” rating in a research note on Friday, September 13th. UBS Group lifted their price target on shares of Apple from $275.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Sanford C. Bernstein set a $205.00 price target on shares of Apple and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. Raymond James reiterated an “outperform” rating and set a $280.00 price target (up previously from $250.00) on shares of Apple in a research note on Monday, October 21st. Finally, Nomura lifted their price target on shares of Apple from $205.00 to $225.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $239.51.
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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