Freestone Capital Holdings LLC Has $25.35 Million Stake in Apple Inc. (AAPL)
Freestone Capital Holdings LLC reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 4.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 175,993 shares of the iPhone maker’s stock after selling 7,599 shares during the quarter. Apple makes up 2.0% of Freestone Capital Holdings LLC’s portfolio, making the stock its 6th biggest position. Freestone Capital Holdings LLC’s holdings in Apple were worth $25,346,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the stock. Stone House Investment Management LLC lifted its position in Apple by 0.4% in the 2nd quarter. Stone House Investment Management LLC now owns 1,570 shares of the iPhone maker’s stock valued at $226,000 after purchasing an additional 6 shares during the last quarter. Lenox Wealth Advisors Inc. lifted its position in Apple by 0.4% in the 2nd quarter. Lenox Wealth Advisors Inc. now owns 4,971 shares of the iPhone maker’s stock valued at $716,000 after purchasing an additional 20 shares during the last quarter. Karp Capital Management Corp lifted its position in Apple by 1.6% in the 2nd quarter. Karp Capital Management Corp now owns 1,427 shares of the iPhone maker’s stock valued at $206,000 after purchasing an additional 22 shares during the last quarter. Welch Investments LLC increased its stake in Apple by 1.5% during the 2nd quarter. Welch Investments LLC now owns 1,607 shares of the iPhone maker’s stock valued at $231,000 after buying an additional 23 shares during the period. Finally, Accurate Investment Solutions Inc. increased its stake in Apple by 0.4% during the 2nd quarter. Accurate Investment Solutions Inc. now owns 6,600 shares of the iPhone maker’s stock valued at $951,000 after buying an additional 26 shares during the period. Hedge funds and other institutional investors own 59.56% of the company’s stock.
Apple Inc. (AAPL) opened at $169.01 on Thursday. Apple Inc. has a fifty-two week low of $109.16 and a fifty-two week high of $176.24. The company has a market cap of $870,984.69, a PE ratio of 18.44, a price-to-earnings-growth ratio of 1.36 and a beta of 1.22. The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.73.
Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, topping the 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 company had revenue of $52.58 billion during the quarter, compared to analysts’ expectations of $50.71 billion. During the same period last year, the company posted $1.50 earnings per share. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. sell-side analysts predict that Apple Inc. will post 11.18 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, November 13th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend was Friday, November 10th. Apple’s payout ratio is 27.39%.
Several research firms have commented on AAPL. Vetr raised shares of Apple from a “buy” rating to a “strong-buy” rating and set a $173.06 target price on the stock in a research note on Friday, September 22nd. Rosenblatt Securities reissued a “hold” rating and set a $150.00 target price on shares of Apple in a research note on Sunday, October 15th. Citigroup reissued a “buy” rating and set a $200.00 target price (up previously from $170.00) on shares of Apple in a research note on Friday, November 3rd. They noted that the move was a valuation call. UBS set a $190.00 target price on shares of Apple and gave the company a “buy” rating in a research note on Monday. Finally, Bank of America reissued a “buy” rating and set a $180.00 target price on shares of Apple in a research note on Tuesday, September 26th. Seven research analysts have rated the stock with a hold rating, forty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $200.27.
In related news, insider Philip W. Schiller sold 56,808 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $154.70, for a total transaction of $8,788,197.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Angela J. Ahrendts sold 63,388 shares of the firm’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $154.21, for a total transaction of $9,775,063.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 217,326 shares of company stock valued at $35,290,561. Corporate insiders own 0.08% of the company’s stock.
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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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