Deroy & Devereaux Private Investment Counsel Inc. Decreases Stock Position in Apple Inc. (NASDAQ:AAPL)

Deroy & Devereaux Private Investment Counsel Inc. cut its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 20.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 116,997 shares of the iPhone maker’s stock after selling 30,147 shares during the quarter. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Apple were worth $16,169,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. MKT Advisors LLC lifted its position in Apple by 0.5% during the second quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock worth $1,777,000 after buying an additional 60 shares in the last quarter. Your Advocates Ltd. LLP lifted its position in Apple by 1.0% during the second quarter. Your Advocates Ltd. LLP now owns 6,339 shares of the iPhone maker’s stock worth $867,000 after buying an additional 65 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in Apple by 6.7% during the second quarter. Harbor Capital Advisors Inc. now owns 1,046 shares of the iPhone maker’s stock worth $143,000 after buying an additional 66 shares in the last quarter. Aufman Associates Inc lifted its position in Apple by 0.9% during the second quarter. Aufman Associates Inc now owns 7,674 shares of the iPhone maker’s stock worth $1,049,000 after buying an additional 66 shares in the last quarter. Finally, Lake Point Wealth Management increased its stake in Apple by 1.7% during the second quarter. Lake Point Wealth Management now owns 4,025 shares of the iPhone maker’s stock worth $550,000 after acquiring an additional 67 shares during the last quarter. 57.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Luca Maestri sold 176,299 shares of the company’s stock in a transaction that occurred on Friday, October 28th. The stock was 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 in the company, valued at approximately $17,259,454.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Chris Kondo sold 20,200 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total value of $3,004,144.00. Following the sale, the insider now owns 31,505 shares in the company, valued at approximately $4,685,423.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 176,299 shares of the company’s 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 completion of the sale, the chief financial officer now directly owns 110,673 shares in the company, valued at approximately $17,259,454.35. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

NASDAQ AAPL opened at $142.53 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.95. The business’s 50 day moving average is $138.42 and its two-hundred day moving average is $148.11. Apple Inc. has a 12-month low of $124.17 and a 12-month high of $179.61. The stock has a market capitalization of $2.26 trillion, a price-to-earnings ratio of 23.33, a PEG ratio of 1.78 and a beta of 1.24.

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

Apple Announces Dividend

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

Analyst Ratings Changes

AAPL has been the subject of several recent analyst reports. Robert W. Baird cut their target price on Apple from $185.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday, October 28th. Needham & Company LLC reissued a “buy” rating and set a $170.00 target price on shares of Apple in a research note on Tuesday, November 8th. National Bank Financial cut their target price on Apple to $54.00 and set an “outperform” rating for the company in a research note on Friday, January 20th. KeyCorp reissued a “buy” rating and set a $175.00 target price on shares of Apple in a research note on Tuesday, November 8th. Finally, Credit Suisse Group reaffirmed a “buy” rating and issued a $184.00 price objective on shares of Apple in a research note on Wednesday, January 18th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $166.44.

Apple Company Profile

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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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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