Crossvault Capital Management LLC Lowers Position in Apple Inc. (AAPL)
Crossvault Capital Management LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,378 shares of the iPhone maker’s stock after selling 2,559 shares during the quarter. Apple accounts for approximately 5.7% of Crossvault Capital Management LLC’s investment portfolio, making the stock its biggest position. Crossvault Capital Management LLC’s holdings in Apple were worth $9,416,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in AAPL. Hefty Wealth Partners boosted its stake in shares of Apple by 27.6% in the 2nd quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock valued at $115,000 after buying an additional 174 shares during the period. American Beacon Advisors Inc. purchased a new position in shares of Apple in the 1st quarter valued at about $117,000. State of Alaska Department of Revenue purchased a new position in shares of Apple in the 2nd quarter valued at about $149,000. Portfolio Solutions LLC purchased a new position in shares of Apple in the 1st quarter valued at about $169,000. Finally, D. Scott Neal Inc. boosted its stake in shares of Apple by 19.8% in the 2nd quarter. D. Scott Neal Inc. now owns 1,212 shares of the iPhone maker’s stock valued at $175,000 after buying an additional 200 shares during the period. Institutional investors own 60.44% of the company’s stock.
Several brokerages have recently issued reports on AAPL. UBS AG reiterated a “buy” rating and issued a $170.00 price objective on shares of Apple in a research note on Saturday, May 20th. KeyCorp reiterated a “hold” rating on shares of Apple in a research note on Thursday. Instinet reiterated a “buy” rating and issued a $185.00 price objective (up previously from $175.00) on shares of Apple in a research note on Wednesday. Royal Bank Of Canada reiterated an “outperform” rating and issued a $160.08 price objective (down previously from $176.00) on shares of Apple in a research note on Wednesday, August 9th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and issued a $190.00 price objective on shares of Apple in a research note on Tuesday. Eleven analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $168.89.
Apple Inc. (NASDAQ:AAPL) traded down 1.63% during midday trading on Friday, hitting $158.63. 28,611,535 shares of the stock traded hands. Apple Inc. has a 52-week low of $102.53 and a 52-week high of $164.94. The company has a market cap of $819.36 billion, a price-to-earnings ratio of 18.01 and a beta of 1.27. The firm’s 50-day moving average is $157.79 and its 200-day moving average is $148.59.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.57 by $0.10. The firm had revenue of $45.41 billion during the quarter, compared to analyst estimates of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. The business’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.42 earnings per share. Analysts predict that Apple Inc. will post $9.02 EPS for the current year.
The business also recently announced 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. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend was Thursday, August 10th. Apple’s dividend payout ratio is currently 28.64%.
WARNING: “Crossvault Capital Management LLC Lowers Position in Apple Inc. (AAPL)” was first reported by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are viewing this news story on another site, it was illegally copied and reposted in violation of United States & international copyright legislation. The correct version of this news story can be viewed at https://theolympiareport.com/2017/09/09/crossvault-capital-management-llc-lowers-position-in-apple-inc-aapl.html.
In related news, CEO Timothy D. Cook sold 268,623 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $160.63, for a total value of $43,148,912.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel J. Riccio sold 11,949 shares of the company’s stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $142.86, for a total transaction of $1,707,034.14. 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 three months. Insiders own 0.08% of the company’s stock.
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.
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL).
Receive News & Ratings for Apple Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.