Apple Inc. (NASDAQ:AAPL) is Canal Capital Management LLC’s 3rd Largest Position

Canal Capital Management LLC decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 0.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,508 shares of the iPhone maker’s stock after selling 94 shares during the period. Apple accounts for about 2.9% of Canal Capital Management LLC’s holdings, making the stock its 3rd biggest position. Canal Capital Management LLC’s holdings in Apple were worth $4,817,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Elwood & Goetz Wealth Advisory Group LLC lifted its position in Apple by 3.1% during the third quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 1,628 shares of the iPhone maker’s stock valued at $365,000 after purchasing an additional 49 shares during the last quarter. Roanoke Asset Management Corp NY lifted its position in Apple by 1.1% during the second quarter. Roanoke Asset Management Corp NY now owns 4,412 shares of the iPhone maker’s stock valued at $873,000 after purchasing an additional 50 shares during the last quarter. Marquette Asset Management LLC lifted its position in Apple by 1.4% during the third quarter. Marquette Asset Management LLC now owns 3,556 shares of the iPhone maker’s stock valued at $796,000 after purchasing an additional 50 shares during the last quarter. Guardian Life Insurance Co. of America lifted its position in Apple by 0.4% during the second quarter. Guardian Life Insurance Co. of America now owns 12,970 shares of the iPhone maker’s stock valued at $2,567,000 after purchasing an additional 51 shares during the last quarter. Finally, Chase Investment Counsel Corp lifted its position in Apple by 2.9% during the third quarter. Chase Investment Counsel Corp now owns 1,822 shares of the iPhone maker’s stock valued at $408,000 after purchasing an additional 52 shares during the last quarter. Institutional investors own 58.61% of the company’s stock.

Shares of NASDAQ AAPL opened at $260.14 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.54 and a debt-to-equity ratio of 1.01. Apple Inc. has a 52 week low of $142.00 and a 52 week high of $260.44. The firm’s fifty day moving average is $235.37 and its 200 day moving average is $209.53. The company has a market cap of $1,142.50 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 1.83 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, topping the 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 period in the previous year, the firm earned $2.91 earnings per share. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. Equities research analysts anticipate that Apple Inc. will post 13.17 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Thursday, November 7th. Apple’s payout ratio is 25.90%.

Several equities research analysts have issued reports on AAPL shares. DA Davidson lifted their target price on shares of Apple from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Daiwa Capital Markets set a $223.00 price objective on shares of Apple and gave the stock a “buy” rating in a report on Wednesday, August 7th. Needham & Company LLC boosted their price objective on shares of Apple to $280.00 and gave the stock an “average” rating in a report on Thursday, October 31st. Rosenblatt Securities set a $150.00 price objective on shares of Apple and gave the stock a “sell” rating in a report on Friday, September 13th. Finally, New Street Research set a $155.00 price objective on shares of Apple and gave the stock a “sell” rating in a report on Tuesday, September 10th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $239.51.

In other Apple news, CEO Timothy D. Cook sold 265,160 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $206.17, for a total transaction of $54,668,037.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Arthur D. Levinson sold 17,500 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $201.69, for a total transaction of $3,529,575.00. Following the transaction, the director now directly owns 1,150,783 shares in the company, valued at $232,101,423.27. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 465,658 shares of company stock worth $100,549,205. 0.05% of the stock is owned by insiders.

Apple Profile

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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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