G2 Capital Management LLC OH Cuts Stake in Apple Inc. (NASDAQ:AAPL)

G2 Capital Management LLC OH lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,738 shares of the iPhone maker’s stock after selling 135 shares during the quarter. Apple makes up 1.9% of G2 Capital Management LLC OH’s portfolio, making the stock its 12th biggest holding. G2 Capital Management LLC OH’s holdings in Apple were worth $4,110,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AAPL. Great West Life Assurance Co. Can purchased a new stake in shares of Apple during the third quarter worth about $1,890,884,000. Barclays PLC increased its stake in Apple by 53.0% in the 3rd quarter. Barclays PLC now owns 30,235,823 shares of the iPhone maker’s stock worth $4,178,590,000 after acquiring an additional 10,471,342 shares during the last quarter. Legal & General Group Plc increased its stake in Apple by 8.2% in the 2nd quarter. Legal & General Group Plc now owns 123,534,393 shares of the iPhone maker’s stock worth $16,889,649,000 after acquiring an additional 9,411,018 shares during the last quarter. Vanguard Group Inc. increased its stake in Apple by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after acquiring an additional 8,734,393 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in Apple by 12.1% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 80,467,043 shares of the iPhone maker’s stock worth $11,001,469,000 after acquiring an additional 8,716,964 shares during the last quarter. Hedge funds and other institutional investors own 57.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AAPL. Cowen reduced their price objective on Apple from $200.00 to $195.00 and set an “outperform” rating on the stock in a research note on Friday, February 3rd. Barclays lifted their price objective on Apple from $133.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Friday, February 3rd. Evercore ISI reaffirmed an “outperform” rating and issued a $190.00 price objective on shares of Apple in a research note on Monday, February 6th. JPMorgan Chase & Co. set a $175.00 target price on Apple in a research report on Wednesday, March 1st. Finally, Canaccord Genuity Group cut their target price on Apple from $200.00 to $170.00 and set a “buy” rating on the stock in a research report on Wednesday, January 18th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $168.24.

Apple Stock Down 1.4 %

Shares of Apple stock opened at $148.50 on Monday. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.94 and a quick ratio of 0.89. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $179.61. The firm’s 50-day moving average is $144.02 and its two-hundred day moving average is $145.54. The stock has a market cap of $2.35 trillion, a price-to-earnings ratio of 25.21, a PEG ratio of 1.97 and a beta of 1.30.

Apple (NASDAQ:AAPL – Get Rating) last issued its earnings results on Thursday, February 2nd. The iPhone maker reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.05). Apple had a return on equity of 163.45% and a net margin of 24.56%. The business had revenue of $117.15 billion for the quarter, compared to the consensus estimate of $121.67 billion. During the same quarter in the previous year, the company earned $2.10 earnings per share. The firm’s revenue was down 5.5% on a year-over-year basis. As a group, research analysts expect that Apple Inc. will post 6.04 earnings per share for the current fiscal year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 16th. Stockholders of record on Monday, February 13th were issued a $0.23 dividend. This is a boost from Apple’s previous quarterly dividend of $0.17. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date was Friday, February 10th. Apple’s dividend payout ratio (DPR) is currently 15.62%.

About Apple

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Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.