Cambridge Investment Research Advisors Inc. lessened its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,890,447 shares of the iPhone maker’s stock after selling 25,827 shares during the quarter. Apple comprises 4.3% of Cambridge Investment Research Advisors Inc.’s holdings, making the stock its largest position. Cambridge Investment Research Advisors Inc.’s holdings in Apple were worth $948,600,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Apple by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after acquiring an additional 8,734,393 shares in the last quarter. Berkshire Hathaway Inc lifted its position in Apple by 2.3% during the first quarter. Berkshire Hathaway Inc now owns 915,560,382 shares of the iPhone maker’s stock worth $150,975,907,000 after buying an additional 20,424,207 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its position in Apple by 116,483.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock worth $74,002,245,000 after buying an additional 569,066,184 shares in the last quarter. Geode Capital Management LLC lifted its position in Apple by 0.9% during the first quarter. Geode Capital Management LLC now owns 285,171,112 shares of the iPhone maker’s stock worth $46,918,015,000 after buying an additional 2,421,295 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Apple by 3.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 234,017,381 shares of the iPhone maker’s stock worth $38,589,468,000 after buying an additional 7,736,013 shares in the last quarter. Hedge funds and other institutional investors own 58.51% of the company’s stock.
Apple Trading Down 2.3 %
NASDAQ AAPL opened at $171.96 on Wednesday. The company has a market capitalization of $2.69 trillion, a PE ratio of 28.90, a price-to-earnings-growth ratio of 2.55 and a beta of 1.27. Apple Inc. has a 1-year low of $124.17 and a 1-year high of $198.23. The firm’s fifty day simple moving average is $182.57 and its 200-day simple moving average is $176.87. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.63.
Apple (NASDAQ:AAPL – Get Free Report) last issued its quarterly earnings data on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. The firm had revenue of $81.80 billion during the quarter, compared to analysts’ expectations of $81.79 billion. Apple had a net margin of 24.68% and a return on equity of 164.92%. Apple’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.20 earnings per share. As a group, sell-side analysts anticipate that Apple Inc. will post 6.05 earnings per share for the current fiscal year.
Apple Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Friday, August 11th. Apple’s dividend payout ratio is presently 16.13%.
Insider Buying and Selling
In related news, SVP Deirdre O’brien sold 15,419 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $178.56, for a total value of $2,753,216.64. Following the completion of the sale, the senior vice president now directly owns 136,445 shares in the company, valued at $24,363,619.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
A number of brokerages recently commented on AAPL. Piper Jaffray Companies lifted their price objective on Apple from $180.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, July 31st. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Apple in a research report on Thursday, September 21st. KeyCorp reiterated an “overweight” rating and set a $200.00 price objective on shares of Apple in a research report on Thursday, September 14th. DA Davidson downgraded Apple from a “buy” rating to a “neutral” rating and reduced their target price for the company from $193.00 to $185.00 in a research report on Monday, June 5th. Finally, Sanford C. Bernstein lifted their target price on Apple from $175.00 to $195.00 and gave the company a “market perform” rating in a research report on Thursday, July 27th. Ten analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $199.41.
Check Out Our Latest Stock Analysis on AAPL
Apple Profile
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. 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, and HomePod.
See Also
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