Today: The Apple Inc. (AAPL) is Independent Portfolio Consultants Inc.’s Largest Position

The Apple Inc. (AAPL) is Independent Portfolio Consultants Inc.’s Largest Position

Independent Portfolio Consultants Inc. decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 4.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,382 shares of the iPhone maker’s stock after selling 2,454 shares during the period. Apple accounts for approximately 1.7% of Independent Portfolio Consultants Inc.’s portfolio, making the stock its largest position. Independent Portfolio Consultants Inc.’s holdings in Apple were worth $5,357,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in AAPL. Algert Global LLC raised its position in shares of Apple by 22.5% in the first quarter. Algert Global LLC now owns 23,296 shares of the iPhone maker’s stock valued at $2,539,000 after buying an additional 4,286 shares in the last quarter. NF Trinity Capital Hong Kong Ltd raised its position in shares of Apple by 10.3% in the first quarter. NF Trinity Capital Hong Kong Ltd now owns 523,597 shares of the iPhone maker’s stock valued at $57,067,000 after buying an additional 49,000 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of Apple during the first quarter valued at approximately $501,000. Franklin Resources Inc. raised its position in shares of Apple by 13.9% in the first quarter. Franklin Resources Inc. now owns 14,170,724 shares of the iPhone maker’s stock valued at $1,544,480,000 after buying an additional 1,726,014 shares in the last quarter. Finally, Institutional Capital LLC raised its position in shares of Apple by 2.5% in the first quarter. Institutional Capital LLC now owns 4,129,279 shares of the iPhone maker’s stock valued at $450,050,000 after buying an additional 100,706 shares in the last quarter. Hedge funds and other institutional investors own 56.81% of the company’s stock.

Apple Inc. (NASDAQ:AAPL) traded up 0.50% during midday trading on Friday, reaching $111.79. The company’s stock had a trading volume of 11,475,922 shares. Apple Inc. has a 52-week low of $89.47 and a 52-week high of $119.86. The stock has a market capitalization of $596.10 billion, a price-to-earnings ratio of 13.45 and a beta of 1.34. The firm has a 50-day moving average price of $113.06 and a 200 day moving average price of $105.31.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, October 25th. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.66 by $0.01. Apple had a net margin of 21.19% and a return on equity of 35.59%. The firm earned $46.85 billion during the quarter, compared to analyst estimates of $46.88 billion. During the same quarter in the prior year, the business posted $1.96 earnings per share. The company’s quarterly revenue was down 9.0% compared to the same quarter last year. Equities research analysts predict that Apple Inc. will post $9.05 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Thursday, November 3rd. Apple’s dividend payout ratio (DPR) is presently 27.57%.

A number of brokerages recently weighed in on AAPL. Vetr downgraded Apple from a “hold” rating to a “sell” rating and set a $102.79 price objective on the stock. in a research report on Tuesday, August 2nd. Drexel Hamilton reaffirmed a “buy” rating and set a $185.00 price objective on shares of Apple in a research report on Wednesday, August 3rd. Wells Fargo & Co. reaffirmed an “outperform” rating and set a $120.00 price objective on shares of Apple in a research report on Wednesday, August 3rd. RBC Capital Markets reaffirmed an “outperform” rating and set a $115.00 price objective on shares of Apple in a research report on Friday, August 5th. Finally, Royal Bank Of Canada raised their price objective on Apple from $115.00 to $117.00 and gave the company an “outperform” rating in a research report on Thursday, August 11th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, forty-two have issued a buy rating and two have issued a strong buy rating to the company. Apple has a consensus rating of “Buy” and a consensus target price of $128.29.

In other news, CFO Luca Maestri sold 16,950 shares of the firm’s stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $110.03, for a total transaction of $1,865,008.50. Following the completion of the sale, the chief financial officer now owns 12,055 shares of the company’s stock, valued at $1,326,411.65. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Timothy D. Cook sold 110,000 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $106.84, for a total transaction of $11,752,400.00. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate insiders.

About Apple

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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