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S. Muoio & CO. LLC has reduced its holdings in Apple Inc. (NASDAQ: AAPL) by 13.5% in the first quarter, according to its latest communication with the Securities & Exchange Commission. The institutional investor held 8,650 shares of the iPhone maker after selling 1,350 shares during the period. The participation of S. Muoio & CO. LLC in Apple was worth $ 1,451,000 as of the date of its last filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Smart Portfolios LLC bought a new stake in Apple in the first quarter, worth about $ 134,000. Macroview Investment Management LLC increased its position in Apple by 220.3% in the first quarter. Macroview Investment Management LLC now owns 900 shares of the $ 151,000 iPhone shareholder, after acquiring an additional 619 shares in the last quarter. Litman Gregory Asset Management LLC increased its position in Apple by 553.8% in the first quarter. Litman Gregory Asset Management LLC now owns 1,033 shares of the $ 173,000 iPhone maker after acquiring 875 additional shares in the last quarter. Stuart Chaussee & Associates Inc. increased its position in Apple by 940.8% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 1,072 shares of the $ 181,000 iPhone publisher after acquiring 969 additional shares in the last quarter. Lastly, Delphi Private Advisors LLC increased its position in Apple by 8,292.9% in the fourth quarter. Delphi Private Advisors LLC now owns 1,175 shares of the $ 199,000 iPhone publisher after acquiring 1,161 additional shares in the last quarter. 58.61% of the shares are held by institutional investors.
In addition, Chief Executive Officer Timothy D. Cook sold 265,160 shares in a transaction on Monday, August 27. The shares were sold at an average price of $ 217.79, for a total value of $ 57,749,196.40. The sale has been disclosed in a legal document filed with the Securities & Exchange Commission, which is accessible via this link. In addition, insider Angela J. Ahrendts sold 6,568 shares in a transaction on Friday, June 15. The shares were sold at an average price of $ 188.81, for a total transaction of $ 1,240,104.08. After completion of the transaction, the insider now owns 79,476 shares of the company, valued at approximately $ 15,005,863.56. The disclosure of this sale can be found here. During the last quarter, insiders sold 384,968 shares of the company worth $ 82,292,858. Business insiders own 0.08% of the company's capital.
Several analysts commented on AAPL actions. In a research report released Friday, June 8, BidaskClub downgraded Apple's stock from a "buy" rating to a "hold" rating. Wells Fargo & Co reaffirmed a "neutral" rating and set a price target of $ 210.00 on Apple's shares in a report released Friday, August 10. Morgan Stanley has increased its target price on Apple's shares from $ 214.00 to $ 232.00 and has assigned the stock an "overweight" rating in a report released Tuesday, July 24. BMO Capital Markets raised its price target on Apple shares from $ 171.00 to $ 184.00 and awarded the stock a "market performance" rating in a published report Monday, July 23rd. Finally, Royal Bank of Canada raised its price target on Apple's shares to $ 240.00 and awarded the stock an "outperformance" rating in a report released on Tuesday, September 4th. Two analysts rated the stock with a sales rating, fifteen granted a holding rating, thirty-one issued a repurchase rating and one gave a strong rating to the company. Apple currently has an average rating of "Buy" and an average price target of $ 225.02.
NASDAQ: AAPL opened at $ 221.30 on Friday. The company has a market capitalization of $ 1,087.72 billion, a price / earnings ratio of 20.06, a price / earnings / income ratio of 1.69 and a beta of 1.33. Apple Inc. posted its lowest level in one year at $ 149.16 and its highest level in a year, $ 229.67. The company has a quick ratio of 1.24, a current ratio of 1.31 and a debt ratio of 0.84.
Apple (NASDAQ: AAPL) released its latest result on Tuesday, July 31. The iPhone maker reported earnings per share of $ 2.34 for the quarter, exceeding the Thomson Reuters consensus estimate by $ 0.16 by $ 2.18. The company had sales of $ 53.27 billion in the quarter, compared to $ 52.43 billion for analysts. Apple had a net margin of 21.98% and a return on equity of 43.50%. The company's quarterly sales increased by 17.3% compared to the same quarter last year. In the same period last year, the company had earned $ 1.67 per share. Analysts predict that Apple will post earnings per share of 11.74 for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 16th. Investors listed on Monday, August 13 received a dividend of $ 0.73 per share. This represents an annualized dividend of $ 2.92 and a return of 1.32%. The ex-dividend date of this dividend was Friday, August 10th. Apple's payout ratio is currently 31.70%.
About Apple
Apple Inc. designs, manufactures and markets mobile communication devices and multimedia devices, as well as personal computers for consumers and small and medium-sized businesses; and education, business and government customers worldwide. The company also sells software, services, accessories, network solutions, and related third-party digital applications and content.
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