Apple Inc. (AAPL) Position Lowered by Randolph Co Inc
Randolph Co Inc cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 190,705 shares of the iPhone maker’s stock after selling 1,620 shares during the period. Apple accounts for 5.4% of Randolph Co Inc’s investment portfolio, making the stock its 4th largest position. Randolph Co Inc’s holdings in Apple were worth $21,559,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Penserra Capital Management LLC raised its position in Apple by 39.2% in the second quarter. Penserra Capital Management LLC now owns 1,080 shares of the iPhone maker’s stock worth $103,000 after buying an additional 304 shares during the period. Delphi Private Advisors LLC boosted its stake in Apple by 5.0% in the second quarter. Delphi Private Advisors LLC now owns 1,462 shares of the iPhone maker’s stock worth $140,000 after buying an additional 69 shares in the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in Apple during the second quarter worth $143,000. Roble Belko & Company Inc boosted its stake in Apple by 60.6% in the second quarter. Roble Belko & Company Inc now owns 1,803 shares of the iPhone maker’s stock worth $172,000 after buying an additional 680 shares in the last quarter. Finally, Smith Affiliated Capital Corp. boosted its stake in Apple by 158.0% in the second quarter. Smith Affiliated Capital Corp. now owns 1,935 shares of the iPhone maker’s stock worth $185,000 after buying an additional 1,185 shares in the last quarter. Hedge funds and other institutional investors own 57.11% of the company’s stock.
Shares of Apple Inc. (NASDAQ:AAPL) traded down 0.4275% on Wednesday, hitting $110.9835. The stock had a trading volume of 9,554,761 shares. The stock has a market capitalization of $591.80 billion, a P/E ratio of 13.3554 and a beta of 1.34. Apple Inc. has a 52 week low of $89.47 and a 52 week high of $119.86. The firm has a 50-day moving average price of $112.99 and a 200-day moving average price of $105.64.
Apple (NASDAQ:AAPL) last released its quarterly earnings data on Tuesday, October 25th. The iPhone maker reported $1.67 EPS for the quarter, beating the consensus estimate of $1.66 by $0.01. Apple had a return on equity of 35.59% and a net margin of 21.19%. The company had revenue of $46.85 billion for the quarter, compared to analysts’ expectations of $46.88 billion. During the same period last year, the firm posted $1.96 earnings per share. Apple’s revenue was down 9.0% compared to the same quarter last year. Equities analysts expect that Apple Inc. will post $9.05 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were given a dividend of $0.57 per share. The ex-dividend date was Thursday, November 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.05%. Apple’s dividend payout ratio (DPR) is presently 27.57%.
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A number of research firms have recently commented on AAPL. BMO Capital Markets reiterated an “outperform” rating and set a $140.00 target price (up previously from $116.00) on shares of Apple in a research report on Monday, September 19th. OTR Global upgraded Apple to a “positive” rating in a research report on Wednesday, October 12th. Cowen and Company lifted their target price on Apple from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Friday, October 21st. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $107.00 target price on shares of Apple in a research report on Wednesday, October 26th. Finally, BTIG Research lifted their target price on Apple from $124.00 to $133.00 and gave the stock a “buy” rating in a research report on Thursday, September 15th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, forty-two have given a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $128.29.
In other Apple news, COO Jeffrey E. Williams sold 43,769 shares of the firm’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $112.59, for a total value of $4,927,951.71. Following the transaction, the chief operating officer now directly owns 90,657 shares of the company’s stock, valued at $10,207,071.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel J. Riccio sold 22,381 shares of the firm’s stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $113.06, for a total value of $2,530,395.86. Following the completion of the transaction, the insider now directly owns 47,043 shares in the company, valued at $5,318,681.58. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.
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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