Roffman Miller Associates Inc. PA Has $72.31 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Roffman Miller Associates Inc. PA reduced its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 523,227 shares of the iPhone maker’s stock after selling 9,284 shares during the quarter. Apple makes up 6.6% of Roffman Miller Associates Inc. PA’s investment portfolio, making the stock its largest holding. Roffman Miller Associates Inc. PA’s holdings in Apple were worth $72,310,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of AAPL. Bluestem Financial Advisors LLC boosted 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 buying an additional 229,929 shares during the period. HBC Financial Services PLLC boosted its holdings in Apple by 21.7% in the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after purchasing an additional 80 shares during the period. Ramsey Quantitative Systems bought a new stake in Apple in the 2nd quarter valued at $55,000. Morgan Dempsey Capital Management LLC bought a new stake in Apple in the 3rd quarter valued at $55,000. Finally, CFS Investment Advisory Services LLC boosted its holdings in Apple by 14,693.8% in the 3rd quarter. CFS Investment Advisory Services LLC now owns 6,024,330 shares of the iPhone maker’s stock valued at $65,000 after purchasing an additional 5,983,608 shares during the period. 57.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Credit Suisse Group set a $184.00 price target on shares of Apple in a report on Monday, February 6th. Canaccord Genuity Group reduced their price target on shares of Apple from $200.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, January 18th. Cowen reduced their price target on shares of Apple from $200.00 to $195.00 and set an “outperform” rating for the company in a report on Friday, February 3rd. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a research note on Saturday, November 5th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Apple from $180.00 to $175.00 and set an “overweight” rating for the company in a research note on Friday, February 3rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $165.15.

Apple Stock Up 0.8 %

Shares of NASDAQ AAPL opened at $147.92 on Tuesday. The firm has a market capitalization of $2.34 trillion, a PE ratio of 25.11, a price-to-earnings-growth ratio of 1.94 and a beta of 1.28. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 1.76. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $179.61. The firm’s 50-day moving average is $140.66 and its 200-day moving average is $146.91.

Apple (NASDAQ:AAPL – Get Rating) last issued its earnings results on Thursday, February 2nd. The iPhone maker reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.05). The business had revenue of $117.15 billion during the quarter, compared to the consensus estimate of $121.67 billion. Apple had a net margin of 24.56% and a return on equity of 163.45%. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period last year, the business posted $2.10 EPS. Equities analysts expect that Apple Inc. will post 6.05 EPS for the current year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 16th. Stockholders of record on Monday, February 13th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.62%. The ex-dividend date was Friday, February 10th. This is a positive change from Apple’s previous quarterly dividend of $0.17. Apple’s dividend payout ratio (DPR) is 15.62%.

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.