Rainier Group Investment Advisory LLC decreased its stake in Apple Inc. (NASDAQ:AAPL) by 0.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,889 shares of the iPhone maker’s stock after selling 43 shares during the period. Apple accounts for 1.0% of Rainier Group Investment Advisory LLC’s investment portfolio, making the stock its 8th largest holding. Rainier Group Investment Advisory LLC’s holdings in Apple were worth $2,139,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Glacier Peak Capital LLC acquired a new stake in shares of Apple in the 4th quarter worth $127,000. Portfolio Solutions LLC acquired a new stake in shares of Apple in the 1st quarter worth $169,000. Fox Run Management L.L.C. acquired a new stake in shares of Apple in the 1st quarter worth $201,000. Salem Capital Management Inc. acquired a new stake in shares of Apple in the 1st quarter worth $226,000. Finally, Access Financial Services Inc. acquired a new stake in shares of Apple in the 4th quarter worth $261,000. Institutional investors and hedge funds own 60.45% of the company’s stock.
Apple Inc. (NASDAQ AAPL) traded up 1.01% during trading on Friday, reaching $159.88. The company had a trading volume of 49,114,602 shares. Apple Inc. has a 12-month low of $104.08 and a 12-month high of $164.94. The stock has a 50 day moving average of $158.97 and a 200-day moving average of $149.42. The stock has a market capitalization of $825.82 billion, a P/E ratio of 18.15 and a beta of 1.27.
Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.10. The company had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. Apple’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the firm earned $1.42 earnings per share. On average, analysts forecast that Apple Inc. will post $9.01 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $2.52 annualized dividend and a dividend yield of 1.58%. Apple’s payout ratio is currently 28.64%.
Several research firms have weighed in on AAPL. UBS AG restated a “buy” rating and set a $170.00 target price on shares of Apple in a report on Saturday, May 20th. Credit Suisse Group reiterated an “outperform” rating and set a $170.00 price target on shares of Apple in a report on Tuesday, June 6th. Deutsche Bank AG reiterated a “hold” rating and set a $130.00 price target on shares of Apple in a report on Tuesday, June 6th. BMO Capital Markets reiterated an “outperform” rating and set a $170.00 price target on shares of Apple in a report on Tuesday, July 25th. Finally, Sanford C. Bernstein reissued a “buy” rating and issued a $160.00 target price on shares of Apple in a research report on Tuesday, May 23rd. Eleven analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company. Apple currently has a consensus rating of “Buy” and an average price target of $187.63.
In other news, insider Daniel J. Riccio sold 11,949 shares of Apple stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $142.86, for a total transaction of $1,707,034.14. 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 268,623 shares of Apple stock in a transaction on Monday, August 28th. The stock was sold at an average price of $160.63, for a total transaction of $43,148,912.49. The disclosure for this sale can be found here. Insiders have sold 432,930 shares of company stock valued at $69,008,577 over the last quarter. Insiders own 0.08% of the company’s stock.
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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