Coastline Trust Co Sells 1,255 Shares of Apple Inc. (AAPL)
Coastline Trust Co trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.6% in the 2nd quarter, Holdings Channel reports. The firm owned 46,734 shares of the iPhone maker’s stock after selling 1,255 shares during the quarter. Apple accounts for 1.3% of Coastline Trust Co’s holdings, making the stock its 6th biggest holding. Coastline Trust Co’s holdings in Apple were worth $8,651,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Delphi Private Advisors LLC purchased a new position in shares of Apple during the second quarter valued at $120,000. Quattro Financial Advisors LLC purchased a new position in shares of Apple during the first quarter valued at $133,000. CX Institutional purchased a new position in shares of Apple during the second quarter valued at $135,000. Spectrum Financial Alliance Ltd LLC purchased a new position in shares of Apple during the first quarter valued at $138,000. Finally, Macroview Investment Management LLC increased its stake in shares of Apple by 220.3% during the first quarter. Macroview Investment Management LLC now owns 900 shares of the iPhone maker’s stock valued at $151,000 after buying an additional 619 shares during the period. Institutional investors and hedge funds own 58.44% of the company’s stock.
Shares of AAPL stock opened at $204.47 on Friday. Apple Inc. has a fifty-two week low of $150.24 and a fifty-two week high of $233.47. The stock has a market cap of $1,031.93 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 1.51 and a beta of 1.26. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.09 and a current ratio of 1.12.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, November 12th will be paid a dividend of $0.73 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.43%. Apple’s payout ratio is 24.52%.
In other news, SVP Angela J. Ahrendts sold 25,000 shares of the business’s stock in a transaction dated Wednesday, October 3rd. The stock was sold at an average price of $232.66, for a total transaction of $5,816,500.00. Following the sale, the senior vice president now owns 105,538 shares in the company, valued at $24,554,471.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 265,160 shares of the business’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $217.79, for a total value of $57,749,196.40. The disclosure for this sale can be found here. Insiders have sold 480,737 shares of company stock worth $107,157,170 in the last 90 days. Insiders own 0.08% of the company’s stock.
AAPL has been the topic of several research reports. Tigress Financial restated a “buy” rating on shares of Apple in a research note on Thursday, August 30th. Robert W. Baird set a $230.00 price target on Apple and gave the company a “buy” rating in a research note on Tuesday, September 4th. New Street Research restated a “sell” rating on shares of Apple in a research note on Tuesday, September 18th. Needham & Company LLC raised their price target on Apple from $220.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, September 13th. Finally, Citigroup cut their price target on Apple from $265.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, November 2nd. Three analysts have rated the stock with a sell rating, twenty have given a hold rating and twenty-eight have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $224.27.
WARNING: “Coastline Trust Co Sells 1,255 Shares of Apple Inc. (AAPL)” was first posted by TheOlympiaReport and is the property of of TheOlympiaReport. If you are accessing this news story on another site, it was stolen and republished in violation of United States and international copyright and trademark legislation. The legal version of this news story can be read at https://theolympiareport.com/2018/11/11/coastline-trust-co-sells-1255-shares-of-apple-inc-aapl.html.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
Featured Article: The benefits and drawbacks of dollar cost averaging
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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.