Palisade Capital Management LLC NJ Decreases Position in Apple Inc. (AAPL)
Palisade Capital Management LLC NJ lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 10.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 162,350 shares of the iPhone maker’s stock after selling 18,979 shares during the period. Apple comprises 0.9% of Palisade Capital Management LLC NJ’s holdings, making the stock its 23rd largest holding. Palisade Capital Management LLC NJ’s holdings in Apple were worth $23,382,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in AAPL. Schwab Charles Investment Management Inc. lifted its holdings in shares of Apple by 2.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 17,637,648 shares of the iPhone maker’s stock worth $2,533,825,000 after acquiring an additional 471,057 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Apple by 1.2% during the 1st quarter. Fisher Asset Management LLC now owns 11,638,395 shares of the iPhone maker’s stock worth $1,671,972,000 after acquiring an additional 140,368 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of Apple by 23.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 9,289,482 shares of the iPhone maker’s stock worth $1,334,527,000 after acquiring an additional 1,749,797 shares during the period. Sanders Capital LLC lifted its holdings in shares of Apple by 2.2% during the 2nd quarter. Sanders Capital LLC now owns 8,184,799 shares of the iPhone maker’s stock worth $1,282,930,000 after acquiring an additional 177,114 shares during the period. Finally, Clearbridge Investments LLC lifted its holdings in shares of Apple by 1.2% during the 1st quarter. Clearbridge Investments LLC now owns 6,815,812 shares of the iPhone maker’s stock worth $979,160,000 after acquiring an additional 82,453 shares during the period. Hedge funds and other institutional investors own 60.38% of the company’s stock.
A number of analysts have recently weighed in on the stock. Vetr raised shares of Apple from a “buy” rating to a “strong-buy” rating and set a $173.06 price target for the company in a report on Friday, September 22nd. Rosenblatt Securities reaffirmed a “hold” rating and set a $150.00 price target on shares of Apple in a report on Sunday, October 15th. Citigroup Inc. reaffirmed a “buy” rating and set a $200.00 price target (up previously from $170.00) on shares of Apple in a report on Friday, November 3rd. They noted that the move was a valuation call. Bank of America Corporation reaffirmed a “buy” rating and set a $180.00 price target on shares of Apple in a report on Tuesday, September 26th. Finally, Pacific Crest raised shares of Apple from a “sector weight” rating to an “overweight” rating and set a $187.00 price target for the company in a report on Monday, October 16th. Seven equities research analysts have rated the stock with a hold rating and forty-six have given a buy rating to the company’s stock. Apple has an average rating of “Buy” and an average target price of $200.24.
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Apple Inc. (AAPL) opened at $170.15 on Friday. Apple Inc. has a one year low of $108.25 and a one year high of $176.24. The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.73. The firm has a market cap of $878,480.00, a P/E ratio of 18.62, a PEG ratio of 1.38 and a beta of 1.25.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.87 by $0.20. Apple had a net margin of 21.09% and a return on equity of 36.29%. The firm had revenue of $52.58 billion for the quarter, compared to analysts’ expectations of $50.71 billion. During the same quarter in the prior year, the business earned $1.50 EPS. The business’s quarterly revenue was up 12.2% on a year-over-year basis. research analysts expect that Apple Inc. will post 11.15 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Monday, November 13th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Friday, November 10th. Apple’s dividend payout ratio (DPR) is presently 27.42%.
In other Apple news, insider Johny Srouji sold 5,892 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $161.00, for a total transaction of $948,612.00. Following the sale, the insider now owns 70,358 shares in the company, valued at approximately $11,327,638. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 268,623 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $160.63, for a total transaction of $43,148,912.49. The disclosure for this sale can be found here. Insiders sold a total of 410,352 shares of company stock worth $65,356,512 in the last quarter. Company 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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