Trust Investment Advisors lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 8.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,460 shares of the iPhone maker’s stock after selling 2,891 shares during the quarter. Apple accounts for approximately 5.3% of Trust Investment Advisors’ investment portfolio, making the stock its biggest position. Trust Investment Advisors’ holdings in Apple were worth $4,695,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Blue Sky Asset Management LLC acquired a new position in Apple during the second quarter worth about $108,000. FNY Managed Accounts LLC raised its stake in Apple by 852.4% during the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after acquiring an additional 716 shares in the last quarter. Private Vista LLC acquired a new position in Apple during the second quarter worth about $122,000. Armbruster Capital Management Inc. raised its stake in Apple by 9.4% during the second quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock worth $131,000 after acquiring an additional 78 shares in the last quarter. Finally, Crow Point Partners LLC raised its stake in Apple by 100.0% during the third quarter. Crow Point Partners LLC now owns 1,000 shares of the iPhone maker’s stock worth $153,000 after acquiring an additional 500 shares in the last quarter. 59.70% of the stock is owned by institutional investors.
In related news, insider Johny Srouji sold 10,368 shares of the stock in a transaction on Friday, November 24th. The stock was sold at an average price of $174.68, for a total value of $1,811,082.24. Following the transaction, the insider now directly owns 81,560 shares in the company, valued at approximately $14,246,900.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Daniel J. Riccio sold 15,641 shares of the stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $169.69, for a total value of $2,654,121.29. Following the completion of the transaction, the insider now owns 17,341 shares in the company, valued at $2,942,594.29. The disclosure for this sale can be found here. Over the last quarter, insiders sold 107,011 shares of company stock worth $18,414,885. 0.08% of the stock is owned by company insiders.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.82 by $0.07. The firm had revenue of $88.29 billion for the quarter, compared to analysts’ expectations of $87.62 billion. Apple had a return on equity of 37.37% and a net margin of 21.13%. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the prior year, the business earned $3.36 EPS. sell-side analysts anticipate that Apple Inc. will post 11.43 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 12th were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Friday, February 9th. Apple’s dividend payout ratio is currently 24.66%.
Several brokerages have commented on AAPL. Zacks Investment Research downgraded Apple from a “buy” rating to a “hold” rating in a research note on Friday, January 19th. Mizuho reissued a “neutral” rating and set a $175.00 target price (up previously from $160.00) on shares of Apple in a research note on Friday, January 19th. Barclays set a $174.00 target price on Apple and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Bank of America downgraded Apple from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $180.00 to $220.00 in a research note on Wednesday, January 17th. Finally, Atlantic Securities downgraded Apple from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $177.35 to $190.00 in a research note on Monday, January 22nd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating, thirty-three have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $201.64.
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Apple Company Profile
Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.
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