Redmond Asset Management LLC Sells 812 Shares of Apple Inc. (AAPL)
Redmond Asset Management LLC decreased its position in Apple Inc. (NASDAQ:AAPL) by 3.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,103 shares of the iPhone maker’s stock after selling 812 shares during the period. Apple makes up about 1.6% of Redmond Asset Management LLC’s portfolio, making the stock its 9th biggest holding. Redmond Asset Management LLC’s holdings in Apple were worth $3,561,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of AAPL. Blue Sky Asset Management LLC purchased a new position in shares of Apple during the 2nd quarter valued at about $108,000. FNY Managed Accounts LLC raised its stake in shares of Apple by 852.4% during the 2nd quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock valued at $115,000 after buying an additional 716 shares during the last quarter. Private Vista LLC purchased a new position in shares of Apple during the 2nd quarter valued at about $122,000. Armbruster Capital Management Inc. raised its stake in shares of Apple by 9.4% during the 2nd quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock valued at $131,000 after buying an additional 78 shares during the last quarter. Finally, Crow Point Partners LLC raised its stake in shares of Apple by 100.0% during the 3rd quarter. Crow Point Partners LLC now owns 1,000 shares of the iPhone maker’s stock valued at $153,000 after buying an additional 500 shares during the last quarter. Institutional investors own 61.41% of the company’s stock.
In other news, insider Daniel J. Riccio sold 15,641 shares of the company’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $174.78, for a total transaction of $2,733,733.98. Following the sale, the insider now owns 13,739 shares of the company’s stock, valued at $2,401,302.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.08% of the stock is currently owned by corporate insiders.
Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.82 by $0.07. Apple had a return on equity of 37.37% and a net margin of 21.13%. The company had revenue of $88.29 billion for the quarter, compared to analyst estimates of $87.62 billion. During the same quarter in the previous year, the company earned $3.36 earnings per share. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. analysts predict that Apple Inc. will post 11.43 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend was Friday, February 9th. Apple’s dividend payout ratio is currently 24.66%.
A number of research firms have weighed in on AAPL. Royal Bank of Canada reiterated a “buy” rating and set a $205.00 price objective on shares of Apple in a research note on Friday, March 9th. Rosenblatt Securities set a $180.00 price objective on Apple and gave the company a “buy” rating in a research note on Wednesday, March 7th. Vetr lowered Apple from a “buy” rating to a “hold” rating and set a $183.68 price target for the company. in a research note on Tuesday, March 6th. ValuEngine upgraded Apple from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, BidaskClub upgraded Apple from a “sell” rating to a “hold” rating in a research note on Saturday, February 17th. One analyst has rated the stock with a sell rating, eighteen have given a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $201.57.
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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