Apple Inc. (AAPL) Stake Lowered by United Bank VA
United Bank VA trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 5.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,977 shares of the iPhone maker’s stock after selling 2,737 shares during the period. Apple accounts for 6.3% of United Bank VA’s portfolio, making the stock its largest holding. United Bank VA’s holdings in Apple were worth $6,477,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Kimelman & Baird LLC grew its stake in Apple by 0.7% during the second quarter. Kimelman & Baird LLC now owns 128,088 shares of the iPhone maker’s stock valued at $18,447,000 after acquiring an additional 836 shares in the last quarter. RNC Capital Management LLC grew its stake in Apple by 2.1% during the second quarter. RNC Capital Management LLC now owns 93,484 shares of the iPhone maker’s stock valued at $13,464,000 after acquiring an additional 1,927 shares in the last quarter. HWG Holdings LP grew its stake in Apple by 39.7% during the second quarter. HWG Holdings LP now owns 17,913 shares of the iPhone maker’s stock valued at $2,580,000 after acquiring an additional 5,095 shares in the last quarter. Sentry Investment Management LLC grew its stake in Apple by 0.8% during the second quarter. Sentry Investment Management LLC now owns 448,244 shares of the iPhone maker’s stock valued at $64,556,000 after acquiring an additional 3,544 shares in the last quarter. Finally, WFG Advisors LP grew its stake in Apple by 48.0% during the second quarter. WFG Advisors LP now owns 51,659 shares of the iPhone maker’s stock valued at $7,440,000 after acquiring an additional 16,765 shares in the last quarter. Hedge funds and other institutional investors own 59.78% of the company’s stock.
In related news, insider Eduardo H. Cue sold 65,361 shares of Apple stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $171.60, for a total transaction of $11,215,947.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel J. Riccio sold 15,641 shares of Apple stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $169.69, for a total transaction of $2,654,121.29. Following the sale, the insider now owns 17,341 shares of the company’s stock, valued at approximately $2,942,594.29. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 232,967 shares of company stock valued at $37,944,683. 0.08% of the stock is owned by corporate insiders.
AAPL has been the subject of several research analyst reports. Cleveland Research raised shares of Apple from a “neutral” rating to a “buy” rating and set a $197.00 target price for the company in a research note on Tuesday, August 29th. Drexel Hamilton reaffirmed a “buy” rating and set a $208.00 target price on shares of Apple in a research note on Tuesday, October 24th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $200.00 target price (up from $196.00) on shares of Apple in a research note on Tuesday, October 31st. Barclays set a $146.00 target price on shares of Apple and gave the company a “neutral” rating in a research note on Wednesday, September 13th. Finally, Vetr cut shares of Apple from a “buy” rating to a “hold” rating and set a $171.48 target price for the company. in a research note on Monday, October 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, forty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Apple presently has an average rating of “Buy” and an average target price of $197.57.
Apple Inc. (NASDAQ AAPL) opened at $173.97 on Friday. Apple Inc. has a 52 week low of $114.76 and a 52 week high of $176.24. The company has a current ratio of 1.28, a quick ratio of 1.23 and a debt-to-equity ratio of 0.73. The company has a market cap of $884,231.25, a PE ratio of 18.72, a P/E/G ratio of 1.38 and a beta of 1.22.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $50.71 billion. During the same period in the previous year, the company earned $1.50 EPS. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. analysts predict that Apple Inc. will post 11.18 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Monday, November 13th were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, November 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.45%. Apple’s dividend payout ratio is presently 27.39%.
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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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