Today: Today: Dowling & Yahnke LLC Reduces Position in Apple Inc. (AAPL)

Today: Dowling & Yahnke LLC Reduces Position in Apple Inc. (AAPL)

Dowling & Yahnke LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 148,992 shares of the iPhone maker’s stock after selling 1,996 shares during the period. Apple accounts for about 2.0% of Dowling & Yahnke LLC’s holdings, making the stock its 5th largest position. Dowling & Yahnke LLC’s holdings in Apple were worth $16,844,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Acrospire Investment Management LLC purchased a new position in Apple during the first quarter valued at approximately $240,000. Baker Ellis Asset Management LLC increased its position in Apple by 3.2% in the first quarter. Baker Ellis Asset Management LLC now owns 15,898 shares of the iPhone maker’s stock valued at $1,733,000 after buying an additional 488 shares during the last quarter. Hutchinson Capital Management CA purchased a new position in Apple during the first quarter valued at approximately $229,000. Botty Investors LLC increased its position in Apple by 155.4% in the first quarter. Botty Investors LLC now owns 36,650 shares of the iPhone maker’s stock valued at $3,994,000 after buying an additional 22,300 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its position in Apple by 6.4% in the first quarter. Massmutual Trust Co. FSB ADV now owns 130,899 shares of the iPhone maker’s stock valued at $14,267,000 after buying an additional 7,870 shares during the last quarter. 57.11% of the stock is owned by institutional investors and hedge funds.

Apple Inc. (NASDAQ:AAPL) traded down 0.031% on Monday, reaching $111.755. 16,822,361 shares of the company traded hands. Apple Inc. has a one year low of $89.47 and a one year high of $119.86. The firm has a 50 day moving average of $113.06 and a 200-day moving average of $105.31. The stock has a market capitalization of $595.91 billion, a PE ratio of 13.448 and a beta of 1.34.

Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, October 25th. The iPhone maker reported $1.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.66 by $0.01. The firm earned $46.85 billion during the quarter, compared to analysts’ expectations of $46.88 billion. Apple had a net margin of 21.19% and a return on equity of 35.59%. Apple’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.96 EPS. On average, analysts anticipate that Apple Inc. will post $9.05 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were paid a $0.57 dividend. The ex-dividend date was Thursday, November 3rd. This represents a $2.28 annualized dividend and a yield of 2.04%. Apple’s payout ratio is currently 27.57%.

A number of research analysts have recently issued reports on the company. Pacific Crest reiterated a “buy” rating and issued a $129.00 price target on shares of Apple in a report on Wednesday, October 26th. Vetr downgraded Apple from a “hold” rating to a “sell” rating and set a $103.98 price target on the stock. in a report on Monday, August 8th. RBC Capital Markets reiterated an “outperform” rating and issued a $115.00 price target on shares of Apple in a report on Friday, August 5th. Wells Fargo & Co. reiterated a “market perform” rating on shares of Apple in a report on Friday, September 9th. Finally, Macquarie reiterated an “outperform” rating and issued a $115.00 price target on shares of Apple in a report on Friday, August 26th. 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 assigned a strong buy rating to the company’s stock. Apple has an average rating of “Buy” and a consensus price target of $128.29.

In other Apple news, CFO Luca Maestri sold 16,950 shares of Apple stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $110.03, for a total value of $1,865,008.50. Following the completion of the sale, the chief financial officer now directly owns 12,055 shares of the company’s stock, valued at approximately $1,326,411.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 110,000 shares of Apple stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $105.95, for a total transaction of $11,654,500.00. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company 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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