Duality Advisers LP cut its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 14.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,564 shares of the iPhone maker’s stock after selling 6,143 shares during the period. Duality Advisers LP’s holdings in Apple were worth $4,915,000 at the end of the most recent reporting period.
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Other institutional investors and hedge funds have also bought and sold shares of the company. Ramsey Quantitative Systems purchased a new stake in Apple in the second quarter worth about $55,000. Morgan Dempsey Capital Management LLC purchased a new position in shares of Apple during the third quarter valued at approximately $55,000. HBC Financial Services PLLC lifted its holdings in shares of Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after purchasing an additional 80 shares during the last quarter. Newfound Research LLC purchased a new position in shares of Apple during the third quarter valued at approximately $67,000. Finally, Emerson Wealth LLC lifted its holdings in shares of Apple by 27.0% during the second quarter. Emerson Wealth LLC now owns 518 shares of the iPhone maker’s stock valued at $71,000 after purchasing an additional 110 shares during the last quarter. 57.60% of the stock is currently owned by hedge funds and other institutional investors.
Apple Stock Performance
Shares of AAPL opened at $152.55 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 1.76. The business has a 50-day simple moving average of $139.51 and a two-hundred day simple moving average of $147.65. The stock has a market cap of $2.41 trillion, a price-to-earnings ratio of 25.90, a PEG ratio of 2.02 and a beta of 1.28. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $179.61.
Apple (NASDAQ:AAPL – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The iPhone maker reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.05). The company had revenue of $117.15 billion during the quarter, compared to analysts’ expectations of $121.67 billion. Apple had a return on equity of 163.45% and a net margin of 24.56%. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.10 EPS. On average, analysts expect that Apple Inc. will post 6.05 EPS for the current year.
Apple Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 16th. Investors of record on Monday, February 13th were given a dividend of $0.23 per share. The ex-dividend date was Friday, February 10th. This represents a $0.92 annualized dividend and a dividend yield of 0.60%. This is a boost from Apple’s previous quarterly dividend of $0.17. Apple’s dividend payout ratio (DPR) is currently 15.62%.
Insider Buying and Selling
In related news, insider Chris Kondo sold 20,200 shares of the stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the completion of the sale, the insider now owns 31,505 shares in the company, valued at $4,685,423.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.06% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several research firms have recently issued reports on AAPL. Cowen lowered their target price on shares of Apple from $200.00 to $195.00 and set an “outperform” rating for the company in a report on Friday, February 3rd. Citigroup reiterated a “buy” rating and set a $175.00 target price on shares of Apple in a report on Tuesday, November 8th. Bank of America lifted their target price on shares of Apple from $153.00 to $158.00 in a report on Friday, February 3rd. UBS Group set a $180.00 price objective on shares of Apple in a report on Monday, February 6th. Finally, StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a report on Saturday, November 5th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $165.15.
About Apple
Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties 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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