Coho Partners Ltd. reduced its position in Apple Inc. (NASDAQ:AAPL) by 10.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,721 shares of the iPhone maker’s stock after selling 887 shares during the quarter. Coho Partners Ltd.’s holdings in Apple were worth $943,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Clear Perspectives Financial Planning LLC bought a new position in shares of Apple during the 4th quarter worth about $27,000. EMC Capital Management acquired a new position in Apple in the fourth quarter worth about $80,000. MD Financial Management Inc. bought a new position in Apple during the fourth quarter worth about $93,000. Insight Financial Services acquired a new stake in Apple during the fourth quarter valued at approximately $95,000. Finally, Lloyd Advisory Services LLC. grew its stake in shares of Apple by 20.1% in the 4th quarter. Lloyd Advisory Services LLC. now owns 760 shares of the iPhone maker’s stock valued at $101,000 after purchasing an additional 127 shares during the period. Hedge funds and other institutional investors own 57.77% of the company’s stock.
In other news, COO Jeffrey E. Williams sold 133,867 shares of the business’s stock in a transaction on Monday, April 5th. The shares were sold at an average price of $125.74, for a total value of $16,832,436.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Deirdre O’brien sold 18,216 shares of the company’s stock in a transaction on Friday, April 16th. The shares were sold at an average price of $134.01, for a total transaction of $2,441,126.16. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.
Shares of Apple stock opened at $132.54 on Tuesday. The business has a fifty day simple moving average of $127.85 and a 200 day simple moving average of $125.92. The stock has a market cap of $2.23 trillion, a PE ratio of 40.66, a price-to-earnings-growth ratio of 2.75 and a beta of 1.28. The company has a quick ratio of 1.33, a current ratio of 1.36 and a debt-to-equity ratio of 1.51. Apple Inc. has a 12 month low of $71.58 and a 12 month high of $145.09.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, April 27th. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.41. The firm had revenue of $89.58 billion for the quarter, compared to analysts’ expectations of $76.84 billion. Apple had a return on equity of 75.15% and a net margin of 20.91%. The company’s revenue was up 53.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.64 earnings per share. Analysts expect that Apple Inc. will post 4.03 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 13th. Investors of record on Monday, May 10th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, May 7th. This represents a $0.88 dividend on an annualized basis and a yield of 0.66%. This is a boost from Apple’s previous quarterly dividend of $0.21. Apple’s payout ratio is currently 25.00%.
Several brokerages recently commented on AAPL. Wells Fargo & Company boosted their price target on Apple from $155.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, January 28th. Robert W. Baird upped their target price on shares of Apple from $155.00 to $160.00 and gave the stock an “outperform” rating in a report on Thursday, April 29th. Needham & Company LLC reissued a “buy” rating and set a $170.00 price target on shares of Apple in a report on Wednesday, April 21st. Canaccord Genuity upgraded shares of Apple to a “buy” rating and boosted their price target for the company from $155.00 to $165.00 in a research report on Thursday, April 29th. Finally, Cascend Securities raised their price objective on shares of Apple from $140.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, January 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $146.82.
Apple Company Profile
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, iPod touch, and other Apple-branded and third-party accessories.
Featured Story: The role of implied volatility with call option volume
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL).
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.