Eqis Capital Management Inc. lowered its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 9.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 85,886 shares of the iPhone maker’s stock after selling 9,308 shares during the quarter. Apple comprises approximately 1.4% of Eqis Capital Management Inc.’s holdings, making the stock its 5th largest holding. Eqis Capital Management Inc.’s holdings in Apple were worth $11,869,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of AAPL. Bluestem Financial Advisors LLC increased its position in Apple by 5,935.2% during the second quarter. Bluestem Financial Advisors LLC now owns 233,803 shares of the iPhone maker’s stock worth $35,000 after acquiring an additional 229,929 shares during the period. HBC Financial Services PLLC increased its holdings in Apple by 21.7% in the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after buying an additional 80 shares during the period. Ramsey Quantitative Systems bought a new stake in Apple in the 2nd quarter valued at $55,000. Morgan Dempsey Capital Management LLC bought a new stake in Apple in the 3rd quarter valued at $55,000. Finally, Newfound Research LLC acquired a new stake in shares of Apple in the 3rd quarter valued at $67,000. Institutional investors own 57.60% of the company’s stock.
Insider Buying and Selling
In other Apple news, insider Chris Kondo sold 20,200 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the completion of the transaction, the insider now owns 31,505 shares of the company’s stock, valued at approximately $4,685,423.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Apple news, insider Chris Kondo sold 20,200 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the completion of the transaction, the insider now owns 31,505 shares of the company’s stock, valued at approximately $4,685,423.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Luca Maestri sold 176,299 shares of the company’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $155.95, for a total value of $27,493,829.05. Following the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $17,259,454.35. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.
Apple Price Performance
Apple (NASDAQ:AAPL – Get Rating) last posted its earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. Apple had a return on equity of 160.90% and a net margin of 25.31%. The business had revenue of $90.15 billion during the quarter, compared to analysts’ expectations of $88.77 billion. During the same period in the prior year, the business earned $1.24 EPS. Apple’s revenue for the quarter was up 7.8% compared to the same quarter last year. Analysts anticipate that Apple Inc. will post 6.19 earnings per share for the current fiscal year.
Apple Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were paid a dividend of $0.23 per share. The ex-dividend date was Friday, November 4th. This represents a $0.92 dividend on an annualized basis and a yield of 0.67%. Apple’s payout ratio is 15.06%.
Analysts Set New Price Targets
AAPL has been the topic of several recent analyst reports. Citigroup restated a “buy” rating and issued a $175.00 target price on shares of Apple in a research note on Tuesday, November 8th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Apple from $175.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, October 28th. BNP Paribas downgraded shares of Apple from an “outperform” rating to a “neutral” rating and set a $140.00 price target on the stock. in a research report on Tuesday, January 3rd. Wedbush reduced their price target on shares of Apple from $200.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 4th. Finally, Rosenblatt Securities reduced their price target on shares of Apple from $189.00 to $165.00 and set a “buy” rating on the stock in a research report on Friday, January 13th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.73.
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.
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