Apple Inc. (AAPL) Position Reduced by Merriman Wealth Management LLC
Merriman Wealth Management LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.2% during the third quarter, Holdings Channel reports. The firm owned 41,989 shares of the iPhone maker’s stock after selling 1,403 shares during the period. Merriman Wealth Management LLC’s holdings in Apple were worth $4,747,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. Cordasco Financial Network increased its position in Apple by 0.4% in the second quarter. Cordasco Financial Network now owns 3,353 shares of the iPhone maker’s stock worth $321,000 after buying an additional 12 shares during the last quarter. Cidel Asset Management Inc. increased its position in Apple by 0.3% in the second quarter. Cidel Asset Management Inc. now owns 4,186 shares of the iPhone maker’s stock worth $400,000 after buying an additional 13 shares during the last quarter. Boston Standard Wealth Management LLC increased its position in Apple by 0.6% in the second quarter. Boston Standard Wealth Management LLC now owns 2,280 shares of the iPhone maker’s stock worth $218,000 after buying an additional 14 shares during the last quarter. Lbmc Investment Advisors LLC increased its position in Apple by 0.3% in the second quarter. Lbmc Investment Advisors LLC now owns 5,110 shares of the iPhone maker’s stock worth $489,000 after buying an additional 15 shares during the last quarter. Finally, Summit Financial Strategies Inc. increased its position in Apple by 0.3% in the second quarter. Summit Financial Strategies Inc. now owns 6,533 shares of the iPhone maker’s stock worth $625,000 after buying an additional 19 shares during the last quarter. 57.11% of the stock is currently owned by institutional investors.
Shares of Apple Inc. (NASDAQ:AAPL) traded down 0.84% on Wednesday, hitting $110.52. 36,151,160 shares of the stock were exchanged. The firm has a market capitalization of $589.33 billion, a PE ratio of 13.30 and a beta of 1.34. The company has a 50-day moving average price of $112.99 and a 200-day moving average price of $105.64. Apple Inc. has a one year low of $89.47 and a one year high of $119.86.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, October 25th. The iPhone maker reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.01. Apple had a net margin of 21.19% and a return on equity of 35.59%. The business had revenue of $46.85 billion for the quarter, compared to analyst estimates of $46.88 billion. During the same period last year, the business posted $1.96 earnings per share. The firm’s quarterly revenue was down 9.0% on a year-over-year basis. Equities research analysts expect that Apple Inc. will post $9.05 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Thursday, November 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.06%. Apple’s payout ratio is 27.57%.
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A number of equities research analysts recently weighed in on AAPL shares. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $150.00 price objective on shares of Apple in a research report on Thursday, September 15th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $124.00 price objective on shares of Apple in a research report on Wednesday, October 12th. Citigroup Inc. increased their price target on Apple from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, September 30th. Vetr cut Apple from a “hold” rating to a “sell” rating and set a $105.47 price target for the company. in a research note on Monday, August 15th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $125.00 price target on shares of Apple in a research note on Tuesday, August 16th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, forty-two have assigned a buy rating and two have given a strong buy rating to the company. Apple has a consensus rating of “Buy” and an average price target of $128.29.
In related news, insider Daniel J. Riccio sold 33,323 shares of the firm’s stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $110.35, for a total value of $3,677,193.05. Following the completion of the transaction, the insider now owns 32,484 shares of the company’s stock, valued at $3,584,609.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Luca Maestri sold 16,950 shares of the firm’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $110.03, for a total transaction of $1,865,008.50. Following the completion of the transaction, the chief financial officer now directly owns 12,055 shares of the company’s stock, valued at approximately $1,326,411.65. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.
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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