Alta Capital Management LLC Sells 28,458 Shares of Apple Inc. (NASDAQ:AAPL)

Alta Capital Management LLC trimmed its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 4.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 600,838 shares of the iPhone maker’s stock after selling 28,458 shares during the period. Apple comprises about 6.5% of Alta Capital Management LLC’s investment portfolio, making the stock its biggest position. Alta Capital Management LLC’s holdings in Apple were worth $83,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Bluestem Financial Advisors LLC lifted its holdings in shares of Apple by 5,935.2% during the 2nd 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 lifted its holdings in shares of Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after acquiring an additional 80 shares during the period. Ramsey Quantitative Systems bought a new position in shares of Apple during the 2nd quarter worth about $55,000. Morgan Dempsey Capital Management LLC bought a new position in shares of Apple during the 3rd quarter worth about $55,000. Finally, Newfound Research LLC bought a new position in shares of Apple during the 3rd quarter worth about $67,000. 57.60% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Up 1.0 %

Shares of NASDAQ AAPL opened at $142.53 on Wednesday. The stock has a market cap of $2.26 trillion, a P/E ratio of 23.33, a P/E/G ratio of 1.78 and a beta of 1.24. The firm has a 50 day moving average price of $138.42 and a 200 day moving average price of $148.11. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.85 and a current ratio of 0.88. Apple Inc. has a 52-week low of $124.17 and a 52-week high of $179.61.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. Apple had a net margin of 25.31% and a return on equity of 160.90%. The firm had revenue of $90.15 billion for the quarter, compared to analyst estimates of $88.77 billion. During the same quarter in the previous year, the firm posted $1.24 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. Analysts expect that Apple Inc. will post 6.19 EPS for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend was Friday, November 4th. Apple’s payout ratio is currently 15.06%.

Analyst Ratings Changes

A number of research firms have recently commented on AAPL. Fundamental Research raised their price objective on shares of Apple to $168.50 and gave the stock a “buy” rating in a report on Tuesday, November 8th. Bank of America cut their price target on shares of Apple from $160.00 to $154.00 and set a “neutral” rating for the company in a report on Monday, November 7th. Bank Of America (Bofa) downgraded shares of Apple from a “buy” rating to a “neutral” rating and cut their price target for the company from $189.00 to $160.00 in a report on Friday, September 30th. Credit Suisse Group reissued a “buy” rating and set a $184.00 price target on shares of Apple in a report on Wednesday, January 18th. Finally, Barclays cut their price target on shares of Apple from $144.00 to $133.00 and set an “equal weight” rating for the company in a report on Wednesday, January 11th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $166.44.

Insider Buying and Selling at Apple

In other Apple news, CFO Luca Maestri sold 176,299 shares of Apple stock in a transaction that occurred on Friday, October 28th. The shares were 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 owns 110,673 shares of the company’s stock, valued at $17,259,454.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Luca Maestri sold 176,299 shares of the business’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $155.95, for a total value of $27,493,829.05. Following the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $17,259,454.35. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Chris Kondo sold 20,200 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 31,505 shares in the company, valued at approximately $4,685,423.60. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Apple Company Profile

(Get Rating)

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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