Davidson & Garrard Inc. cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.6% in the 3rd quarter, Holdings Channel reports. The firm owned 120,884 shares of the iPhone maker’s stock after selling 3,286 shares during the quarter. Apple accounts for approximately 4.4% of Davidson & Garrard Inc.’s investment portfolio, making the stock its biggest holding. Davidson & Garrard Inc.’s holdings in Apple were worth $18,631,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in AAPL. Berkshire Hathaway Inc. boosted its position in shares of Apple by 0.6% during the 2nd quarter. Berkshire Hathaway Inc. now owns 130,191,960 shares of the iPhone maker’s stock valued at $18,750,246,000 after acquiring an additional 834,854 shares during the last quarter. Capital Research Global Investors boosted its position in shares of Apple by 15.0% during the 2nd quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock valued at $4,241,383,000 after acquiring an additional 3,845,363 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Apple by 3.0% during the 2nd quarter. Legal & General Group Plc now owns 26,106,175 shares of the iPhone maker’s stock valued at $3,759,849,000 after acquiring an additional 771,046 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Apple by 301.3% during the 2nd quarter. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker’s stock valued at $2,880,992,000 after acquiring an additional 15,018,790 shares during the last quarter. Finally, Swiss National Bank boosted its position in shares of Apple by 0.4% during the 3rd quarter. Swiss National Bank now owns 19,248,516 shares of the iPhone maker’s stock valued at $2,966,581,000 after acquiring an additional 79,100 shares during the last quarter. 59.70% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently issued reports on the company. Vetr downgraded Apple from a “buy” rating to a “hold” rating and set a $184.49 price target for the company. in a research report on Tuesday. BidaskClub upgraded Apple from a “sell” rating to a “hold” rating in a research report on Saturday, February 17th. BMO Capital Markets downgraded Apple from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $162.00 to $166.00 in a research report on Wednesday, January 31st. Raymond James Financial reiterated a “market perform” rating on shares of Apple in a research report on Friday, February 16th. Finally, Morningstar set a $170.00 price target on Apple and gave the company a “neutral” rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $201.58.
Apple Inc. (NASDAQ AAPL) opened at $178.97 on Tuesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.24. Apple Inc. has a 12 month low of $136.28 and a 12 month high of $180.10. The stock has a market capitalization of $890,489.31, a P/E ratio of 18.39, a PEG ratio of 1.32 and a beta of 1.31.
Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.82 by $0.07. Apple had a return on equity of 37.37% and a net margin of 21.13%. The firm had revenue of $88.29 billion for the quarter, compared to analysts’ expectations of $87.62 billion. During the same period in the previous year, the firm earned $3.36 earnings per share. The business’s revenue was up 12.7% compared to the same quarter last year. sell-side analysts anticipate that Apple Inc. will post 11.43 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 12th were paid a $0.63 dividend. The ex-dividend date of this dividend was Friday, February 9th. This represents a $2.52 annualized dividend and a yield of 1.41%. Apple’s payout ratio is 25.90%.
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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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