Azimuth Capital Management LLC grew its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 125,694 shares of the iPhone maker’s stock after acquiring an additional 3,023 shares during the quarter. Apple accounts for approximately 1.7% of Azimuth Capital Management LLC’s holdings, making the stock its 3rd biggest holding. Azimuth Capital Management LLC’s holdings in Apple were worth $23,267,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the business. Ferguson Wellman Capital Management Inc. increased its position in Apple by 18.5% during the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 438,663 shares of the iPhone maker’s stock valued at $81,201,000 after purchasing an additional 68,367 shares during the period. Modera Wealth Management LLC increased its position in Apple by 14.3% during the 2nd quarter. Modera Wealth Management LLC now owns 19,278 shares of the iPhone maker’s stock valued at $3,569,000 after purchasing an additional 2,406 shares during the period. Sawtooth Solutions LLC increased its position in Apple by 39.9% during the 2nd quarter. Sawtooth Solutions LLC now owns 22,992 shares of the iPhone maker’s stock valued at $4,256,000 after purchasing an additional 6,557 shares during the period. Aviance Capital Partners LLC increased its position in Apple by 5.5% during the 2nd quarter. Aviance Capital Partners LLC now owns 170,071 shares of the iPhone maker’s stock valued at $31,481,000 after purchasing an additional 8,885 shares during the period. Finally, Tibra Equities Europe Ltd purchased a new position in Apple during the 2nd quarter valued at $55,589,000. 57.14% of the stock is currently owned by hedge funds and other institutional investors.
In other Apple news, insider Chris Kondo sold 3,408 shares of the business’s stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $190.00, for a total value of $647,520.00. Following the completion of the transaction, the insider now owns 8,940 shares of the company’s stock, valued at approximately $1,698,600. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jeffrey E. Williams sold 61,998 shares of the business’s stock in a transaction dated Wednesday, October 3rd. The stock was sold at an average price of $232.33, for a total value of $14,403,995.34. Following the completion of the transaction, the chief operating officer now directly owns 124,695 shares of the company’s stock, valued at approximately $28,970,389.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 204,845 shares of company stock worth $47,015,677. 0.08% of the stock is currently owned by company insiders.
Shares of Apple stock opened at $168.49 on Friday. The stock has a market capitalization of $868.46 billion, a P/E ratio of 14.15, a PEG ratio of 1.27 and a beta of 1.20. Apple Inc. has a 1 year low of $150.24 and a 1 year high of $233.47. The company has a current ratio of 1.12, a quick ratio of 1.09 and a debt-to-equity ratio of 0.87.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, November 1st. The iPhone maker reported $2.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.78 by $0.13. The company had revenue of $62.90 billion for the quarter, compared to analysts’ expectations of $61.55 billion. Apple had a net margin of 22.41% and a return on equity of 48.68%. Apple’s revenue was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.07 EPS. As a group, analysts expect that Apple Inc. will post 13.32 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Monday, November 12th were paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date was Thursday, November 8th. Apple’s payout ratio is 24.52%.
A number of brokerages have issued reports on AAPL. BidaskClub downgraded shares of Apple from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 12th. Morgan Stanley reissued a “buy” rating and set a $247.00 price objective on shares of Apple in a research report on Wednesday, September 26th. JPMorgan Chase & Co. reissued a “buy” rating and set a $272.00 price objective on shares of Apple in a research report on Wednesday, October 10th. Royal Bank of Canada reissued a “buy” rating and set a $240.00 price objective on shares of Apple in a research report on Tuesday, September 11th. Finally, Wells Fargo & Co set a $210.00 price objective on shares of Apple and gave the company a “neutral” rating in a research report on Wednesday, September 5th. Four investment analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and twenty-four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $219.95.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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