The Taylor Frigon Capital Management LLC Acquires 260 Shares of Apple Inc. (AAPL)

The Taylor Frigon Capital Management LLC Acquires 260 Shares of Apple Inc. (AAPL)

Taylor Frigon Capital Management LLC raised its stake in Apple Inc. (NASDAQ:AAPL) by 3.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,988 shares of the iPhone maker’s stock after buying an additional 260 shares during the period. Taylor Frigon Capital Management LLC’s holdings in Apple were worth $859,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Reilly Financial Advisors LLC boosted its position in Apple by 0.5% in the second quarter. Reilly Financial Advisors LLC now owns 133,508 shares of the iPhone maker’s stock worth $12,763,000 after buying an additional 601 shares during the last quarter. CapWealth Advisors LLC boosted its position in Apple by 0.7% in the second quarter. CapWealth Advisors LLC now owns 147,734 shares of the iPhone maker’s stock worth $14,123,000 after buying an additional 1,046 shares during the last quarter. Brighton Jones LLC boosted its position in Apple by 26.4% in the second quarter. Brighton Jones LLC now owns 69,178 shares of the iPhone maker’s stock worth $6,613,000 after buying an additional 14,444 shares during the last quarter. Baskin Financial Services Inc. boosted its position in Apple by 1.8% in the second quarter. Baskin Financial Services Inc. now owns 172,964 shares of the iPhone maker’s stock worth $16,535,000 after buying an additional 3,006 shares during the last quarter. Finally, GHP Investment Advisors Inc. boosted its position in Apple by 5.2% in the second quarter. GHP Investment Advisors Inc. now owns 34,671 shares of the iPhone maker’s stock worth $3,315,000 after buying an additional 1,725 shares during the last quarter. 56.41% of the stock is owned by hedge funds and other institutional investors.

Shares of Apple Inc. (NASDAQ:AAPL) traded down 0.66% during midday trading on Friday, hitting $113.72. The company had a trading volume of 37,861,662 shares. The stock has a 50 day moving average price of $114.12 and a 200 day moving average price of $104.15. The firm has a market capitalization of $606.39 billion, a P/E ratio of 13.68 and a beta of 1.22. Apple Inc. has a 1-year low of $89.47 and a 1-year high of $123.82.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, October 25th. The iPhone maker reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.01. Apple had a net margin of 21.19% and a return on equity of 35.59%. The company earned $46.85 billion during the quarter, compared to analyst estimates of $46.88 billion. During the same period in the previous year, the business earned $1.96 EPS. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. On average, equities analysts anticipate that Apple Inc. will post $9.01 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Monday, November 7th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.00%. Apple’s payout ratio is currently 27.57%.

Several analysts have recently issued reports on the stock. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $153.00 target price on shares of Apple in a research report on Tuesday, July 26th. Credit Suisse Group AG reiterated an “outperform” rating and issued a $150.00 target price on shares of Apple in a research report on Thursday, September 15th. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $124.00 target price on shares of Apple in a research report on Wednesday, October 12th. Citigroup Inc. lifted their target price on shares of Apple from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, September 30th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $150.00 target price on shares of Apple in a research report on Wednesday, July 20th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, forty-one have assigned a buy rating and two have assigned a strong buy rating to the company. Apple currently has a consensus rating of “Buy” and a consensus price target of $127.95.

In other Apple news, SVP D Bruce Sewell sold 23,305 shares of the business’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $107.49, for a total transaction of $2,505,054.45. Following the completion of the sale, the senior vice president now directly owns 239,329 shares in the company, valued at approximately $25,725,474.21. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 334,000 shares of the business’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $107.23, for a total transaction of $35,814,820.00. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate insiders.

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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