Apple Inc. (NASDAQ:AAPL) Stock Position Reduced by Boston Family Office LLC

Boston Family Office LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.3% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 411,834 shares of the iPhone maker’s stock after selling 9,588 shares during the period. Apple comprises approximately 5.1% of Boston Family Office LLC’s holdings, making the stock its largest position. Boston Family Office LLC’s holdings in Apple were worth $56,916,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Manchester Capital Management LLC grew its position in Apple by 0.3% in the third quarter. Manchester Capital Management LLC now owns 249,589 shares of the iPhone maker’s stock worth $34,493,000 after acquiring an additional 720 shares in the last quarter. Lpwm LLC grew its position in Apple by 2.1% in the third quarter. Lpwm LLC now owns 4,835 shares of the iPhone maker’s stock worth $668,000 after acquiring an additional 101 shares in the last quarter. Impax Asset Management Group plc grew its position in Apple by 8.0% in the third quarter. Impax Asset Management Group plc now owns 848,839 shares of the iPhone maker’s stock worth $117,310,000 after acquiring an additional 62,867 shares in the last quarter. Northcape Wealth Management LLC grew its position in Apple by 27.4% in the third quarter. Northcape Wealth Management LLC now owns 70,220 shares of the iPhone maker’s stock worth $9,704,000 after acquiring an additional 15,113 shares in the last quarter. Finally, Exencial Wealth Advisors LLC grew its position in Apple by 0.8% in the third quarter. Exencial Wealth Advisors LLC now owns 458,307 shares of the iPhone maker’s stock worth $63,338,000 after acquiring an additional 3,587 shares in the last quarter. 57.60% of the stock is owned by hedge funds and other institutional investors.

Apple Trading Up 3.5 %

Shares of AAPL stock opened at $151.03 on Friday. The firm has a fifty day moving average of $141.82 and a 200-day moving average of $146.57. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.89 and a current ratio of 0.94. Apple Inc. has a 52-week low of $124.17 and a 52-week high of $179.61. The stock has a market cap of $2.39 trillion, a price-to-earnings ratio of 25.64, a P/E/G ratio of 1.92 and a beta of 1.30.

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

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 16th. Stockholders of record on Monday, February 13th were issued a $0.23 dividend. This is a positive change from Apple’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, February 10th. This represents a $0.92 annualized dividend and a dividend yield of 0.61%. Apple’s dividend payout ratio is presently 15.62%.

Analysts Set New Price Targets

AAPL has been the subject of several recent research reports. Raymond James decreased their target price on shares of Apple from $185.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, February 3rd. UBS Group set a $180.00 price objective on shares of Apple in a research note on Monday, February 20th. Citigroup restated a “buy” rating and issued a $175.00 price objective on shares of Apple in a research note on Tuesday, November 8th. Cowen reduced their price objective on shares of Apple from $200.00 to $195.00 and set an “outperform” rating for the company in a research note on Friday, February 3rd. Finally, StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a research note on Saturday, November 5th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $166.18.

Apple 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.