Apple Inc. (NASDAQ:AAPL) Stock Position Lessened by Kimelman & Baird LLC

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Kimelman & Baird LLC lowered its position in Apple Inc. (NASDAQ:AAPL) by 2.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 117,496 shares of the iPhone maker’s stock after selling 2,400 shares during the period. Apple makes up about 3.6% of Kimelman & Baird LLC’s portfolio, making the stock its 8th largest position. Kimelman & Baird LLC’s holdings in Apple were worth $26,316,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Webster Bank N. A. lifted its stake in Apple by 0.7% in the second quarter. Webster Bank N. A. now owns 92,515 shares of the iPhone maker’s stock worth $18,310,000 after purchasing an additional 662 shares during the last quarter. Bogart Wealth LLC lifted its stake in Apple by 6.0% in the second quarter. Bogart Wealth LLC now owns 8,033 shares of the iPhone maker’s stock worth $1,589,000 after purchasing an additional 453 shares during the last quarter. Asset Dedication LLC lifted its stake in Apple by 0.4% in the second quarter. Asset Dedication LLC now owns 19,862 shares of the iPhone maker’s stock worth $3,933,000 after purchasing an additional 79 shares during the last quarter. Whittier Trust Co. lifted its stake in Apple by 1.3% in the second quarter. Whittier Trust Co. now owns 396,655 shares of the iPhone maker’s stock worth $78,506,000 after purchasing an additional 5,106 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in Apple by 0.9% in the second quarter. State of Alaska Department of Revenue now owns 628,795 shares of the iPhone maker’s stock worth $124,449,000 after purchasing an additional 5,763 shares during the last quarter. 59.19% of the stock is currently owned by hedge funds and other institutional investors.

AAPL has been the subject of several recent research reports. Macquarie set a $210.00 price target on shares of Apple and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Wells Fargo & Co boosted their price target on shares of Apple from $215.00 to $245.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. Longbow Research raised shares of Apple from a “neutral” rating to a “buy” rating and set a $260.00 price target for the company in a research note on Thursday, October 10th. DZ Bank raised shares of Apple from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Finally, Rosenblatt Securities reissued a “sell” rating and issued a $150.00 price target on shares of Apple in a research note on Monday. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $248.97.

Shares of NASDAQ AAPL traded up $1.56 during midday trading on Tuesday, hitting $268.48. 22,203,888 shares of the company traded hands, compared to its average volume of 21,010,844. Apple Inc. has a 12-month low of $142.00 and a 12-month high of $268.25. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.50 and a current ratio of 1.54. The stock has a 50-day moving average price of $258.58 and a 200 day moving average price of $219.31. The firm has a market cap of $1,196.48 billion, a P/E ratio of 22.58, a P/E/G ratio of 1.96 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Wednesday, October 30th. The iPhone maker reported $3.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.19. Apple had a net margin of 21.24% and a return on equity of 53.82%. The company had revenue of $64.04 billion for the quarter, compared to analysts’ expectations of $62.86 billion. During the same quarter in the previous year, the company earned $2.91 earnings per share. Apple’s quarterly revenue was up 1.8% on a year-over-year basis. As a group, equities analysts expect that Apple Inc. will post 13.18 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 1.15%. The ex-dividend date was Thursday, November 7th. Apple’s dividend payout ratio is currently 25.90%.

In related news, COO Jeffrey E. Williams sold 67,554 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $219.04, for a total transaction of $14,797,028.16. Following the transaction, the chief operating officer now owns 237,517 shares in the company, valued at $52,025,723.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Arthur D. Levinson sold 37,394 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $257.79, for a total transaction of $9,639,799.26. Following the transaction, the director now owns 1,170,677 shares in the company, valued at approximately $301,788,823.83. The disclosure for this sale can be found here. Insiders have sold 182,998 shares of company stock worth $42,351,593 in the last quarter. 0.05% of the stock is owned by corporate insiders.

Apple Profile

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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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