Menlo Advisors LLC Has $2,917,000 Position in Apple Inc. (AAPL)
Menlo Advisors LLC maintained its stake in shares of Apple Inc. (NASDAQ:AAPL) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,807 shares of the iPhone maker’s stock at the end of the third quarter. Apple makes up 2.3% of Menlo Advisors LLC’s investment portfolio, making the stock its 22nd largest position. Menlo Advisors LLC’s holdings in Apple were worth $2,917,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in AAPL. Zurich Insurance Group Ltd FI raised its stake in Apple by 1.4% in the first quarter. Zurich Insurance Group Ltd FI now owns 869,381 shares of the iPhone maker’s stock valued at $94,754,000 after buying an additional 11,582 shares during the period. BNP Paribas Arbitrage SA raised its stake in Apple by 34.8% in the second quarter. BNP Paribas Arbitrage SA now owns 5,887,600 shares of the iPhone maker’s stock valued at $562,855,000 after buying an additional 1,521,440 shares during the period. Roffman Miller Associates Inc. PA raised its stake in Apple by 25.0% in the second quarter. Roffman Miller Associates Inc. PA now owns 139,953 shares of the iPhone maker’s stock valued at $13,380,000 after buying an additional 28,020 shares during the period. Capstone Asset Management Co. raised its stake in Apple by 19.1% in the second quarter. Capstone Asset Management Co. now owns 550,349 shares of the iPhone maker’s stock valued at $52,613,000 after buying an additional 88,106 shares during the period. Finally, CI Global Investments Inc. raised its stake in Apple by 7.2% in the second quarter. CI Global Investments Inc. now owns 538,675 shares of the iPhone maker’s stock valued at $51,497,000 after buying an additional 36,200 shares during the period. 57.11% of the stock is currently owned by institutional investors and hedge funds.
Shares of Apple Inc. (NASDAQ:AAPL) traded down 0.10% on Tuesday, reaching $111.46. The company had a trading volume of 28,527,640 shares. Apple Inc. has a 52-week low of $89.47 and a 52-week high of $119.86. The company has a 50-day moving average price of $112.99 and a 200-day moving average price of $105.64. The firm has a market capitalization of $594.34 billion, a PE ratio of 13.41 and a beta of 1.34.
Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, October 25th. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.66 by $0.01. The company earned $46.85 billion during the quarter, compared to analyst estimates of $46.88 billion. Apple had a return on equity of 35.59% and a net margin of 21.19%. The company’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.96 earnings per share. Equities research analysts forecast that Apple Inc. will post $9.05 EPS for the current fiscal year.
The company 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 was Thursday, November 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.05%. Apple’s dividend payout ratio is 27.57%.
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Several analysts have recently issued reports on AAPL shares. Vetr lowered shares of Apple from a “hold” rating to a “sell” rating and set a $102.79 price target on the stock. in a research report on Tuesday, August 2nd. Drexel Hamilton reaffirmed a “buy” rating and set a $185.00 price objective on shares of Apple in a research note on Wednesday, August 3rd. Wells Fargo & Co. reaffirmed an “outperform” rating and set a $120.00 price objective on shares of Apple in a research note on Wednesday, August 3rd. RBC Capital Markets reaffirmed an “outperform” rating and set a $115.00 price objective on shares of Apple in a research note on Friday, August 5th. Finally, Royal Bank Of Canada boosted their price objective on shares of Apple from $115.00 to $117.00 and gave the company an “outperform” rating in a research note on Thursday, August 11th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, forty-two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $128.29.
In related news, CFO Luca Maestri sold 16,950 shares of the stock in a transaction on Monday, November 7th. The stock was sold at an average price of $110.03, for a total transaction of $1,865,008.50. Following the completion of the sale, the chief financial officer now directly owns 12,055 shares in the company, valued at $1,326,411.65. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Daniel J. Riccio sold 22,381 shares of the stock in a transaction on 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 sale, the insider now owns 47,043 shares of the company’s stock, 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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