Rice Partnership LLC decreased its position in Apple Inc. (NASDAQ:AAPL) by 4.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 191,073 shares of the iPhone maker’s stock after selling 8,868 shares during the period. Apple comprises approximately 8.5% of Rice Partnership LLC’s holdings, making the stock its largest holding. Rice Partnership LLC’s holdings in Apple were worth $27,037,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in AAPL. Milestone Resources Group Ltd grew its position in Apple by 92.6% during the 3rd quarter. Milestone Resources Group Ltd now owns 416 shares of the iPhone maker’s stock worth $59,000 after acquiring an additional 200 shares during the last quarter. Navigation Wealth Management Inc. grew its position in Apple by 21.3% during the 3rd quarter. Navigation Wealth Management Inc. now owns 478 shares of the iPhone maker’s stock worth $68,000 after acquiring an additional 84 shares during the last quarter. Newfound Research LLC bought a new stake in Apple during the 3rd quarter worth approximately $77,000. NuWave Investment Management LLC lifted its holdings in Apple by 43.5% during the 3rd quarter. NuWave Investment Management LLC now owns 594 shares of the iPhone maker’s stock worth $84,000 after buying an additional 180 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Apple by 75.6% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,087 shares of the iPhone maker’s stock worth $149,000 after buying an additional 468 shares in the last quarter. Institutional investors own 56.49% of the company’s stock.
Apple stock opened at $170.33 on Friday. Apple Inc. has a 52 week low of $116.21 and a 52 week high of $182.94. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.02 and a current ratio of 1.07. The stock has a market capitalization of $2.78 trillion, a P/E ratio of 30.31, a PEG ratio of 2.33 and a beta of 1.20. The stock has a 50-day simple moving average of $170.37 and a 200 day simple moving average of $155.75.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, January 27th. The iPhone maker reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.21. Apple had a return on equity of 144.13% and a net margin of 25.88%. The business had revenue of $123.95 billion during the quarter, compared to analysts’ expectations of $118.53 billion. During the same quarter last year, the company posted $1.68 earnings per share. Apple’s quarterly revenue was up 11.3% on a year-over-year basis. Research analysts forecast that Apple Inc. will post 5.82 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 10th. Investors of record on Monday, February 7th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.52%. Apple’s payout ratio is currently 15.66%.
In other Apple news, insider Chris Kondo sold 9,005 shares of the firm’s stock in a transaction that occurred on Friday, November 12th. The shares were sold at an average price of $150.00, for a total transaction of $1,350,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, November 1st. The stock was sold at an average price of $148.68, for a total transaction of $3,717,000.00. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.
Several research analysts have issued reports on AAPL shares. Robert W. Baird upped their price objective on Apple from $185.00 to $190.00 in a report on Friday. Morgan Stanley upped their price objective on Apple from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday. Raymond James upped their price objective on Apple from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday. Citigroup reissued a “buy” rating and issued a $200.00 price target on shares of Apple in a research note on Wednesday, January 19th. Finally, UBS Group increased their price target on Apple from $175.00 to $185.00 and gave the company a “buy” rating in a research note on Friday. Seven research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $186.99.
Apple Profile
Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other variety of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.
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