Doheny Asset Management CA Decreases Holdings in Apple Inc. (AAPL)
Doheny Asset Management CA trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 7.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 80,994 shares of the iPhone maker’s stock after selling 6,230 shares during the quarter. Apple makes up 7.1% of Doheny Asset Management CA’s portfolio, making the stock its biggest holding. Doheny Asset Management CA’s holdings in Apple were worth $13,589,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of AAPL. Quattro Financial Advisors LLC purchased a new stake in Apple during the first quarter worth $133,000. Smart Portfolios LLC purchased a new stake in Apple during the first quarter worth $134,000. Spectrum Financial Alliance Ltd LLC purchased a new stake in Apple during the first quarter worth $138,000. Macroview Investment Management LLC boosted its position in Apple by 220.3% during the first quarter. Macroview Investment Management LLC now owns 900 shares of the iPhone maker’s stock worth $151,000 after purchasing an additional 619 shares in the last quarter. Finally, Litman Gregory Asset Management LLC boosted its position in Apple by 553.8% during the first quarter. Litman Gregory Asset Management LLC now owns 1,033 shares of the iPhone maker’s stock worth $173,000 after purchasing an additional 875 shares in the last quarter. Institutional investors own 58.62% of the company’s stock.
In other Apple news, CEO Timothy D. Cook sold 265,160 shares of the business’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $217.79, for a total transaction of $57,749,196.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Johny Srouji sold 14,140 shares of the business’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $214.98, for a total value of $3,039,817.20. Following the sale, the insider now directly owns 68,302 shares of the company’s stock, valued at approximately $14,683,563.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 384,968 shares of company stock valued at $82,292,858. 0.06% of the stock is owned by company insiders.
Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.18 by $0.16. The firm had revenue of $53.27 billion during the quarter, compared to analyst estimates of $52.43 billion. Apple had a return on equity of 43.50% and a net margin of 21.98%. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.67 earnings per share. research analysts predict that Apple Inc. will post 11.74 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 16th. Shareholders of record on Monday, August 13th were given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date was Friday, August 10th. Apple’s dividend payout ratio (DPR) is presently 31.70%.
A number of analysts have commented on the company. Morgan Stanley reiterated a “buy” rating and set a $245.00 target price (up from $232.00) on shares of Apple in a research report on Wednesday, September 5th. DA Davidson reissued a “buy” rating and issued a $265.00 price target (up from $230.00) on shares of Apple in a report on Wednesday, September 5th. DZ Bank reissued a “buy” rating on shares of Apple in a report on Monday, September 3rd. Canaccord Genuity reissued a “buy” rating and issued a $250.00 price target (up from $220.00) on shares of Apple in a report on Tuesday, September 4th. Finally, Cascend Securities boosted their price target on Apple from $230.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, September 4th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirty-one have issued a buy rating to the company’s stock. Apple has an average rating of “Buy” and an average target price of $233.12.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
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