Greenwood Gearhart Inc. lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 4.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 243,057 shares of the iPhone maker’s stock after acquiring an additional 9,764 shares during the quarter. Apple comprises approximately 5.3% of Greenwood Gearhart Inc.’s portfolio, making the stock its 2nd largest holding. Greenwood Gearhart Inc.’s holdings in Apple were worth $33,592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently modified their holdings of AAPL. Wealthspire Advisors LLC boosted its position in Apple by 42.8% in the second quarter. Wealthspire Advisors LLC now owns 299,829 shares of the iPhone maker’s stock worth $40,993,000 after purchasing an additional 89,865 shares during the last quarter. Eagle Bay Advisors LLC boosted its position in Apple by 35.7% in the second quarter. Eagle Bay Advisors LLC now owns 25,608 shares of the iPhone maker’s stock worth $3,501,000 after purchasing an additional 6,735 shares during the last quarter. Callan Capital LLC boosted its position in Apple by 1.6% in the second quarter. Callan Capital LLC now owns 85,226 shares of the iPhone maker’s stock worth $11,652,000 after purchasing an additional 1,322 shares during the last quarter. Bennett Selby Investments LP boosted its position in Apple by 0.3% in the third quarter. Bennett Selby Investments LP now owns 151,793 shares of the iPhone maker’s stock worth $20,978,000 after purchasing an additional 450 shares during the last quarter. Finally, Blueshift Asset Management LLC purchased a new position in Apple in the third quarter worth about $563,000. 57.60% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms have recently weighed in on AAPL. Fundamental Research reaffirmed a “buy” rating and set a $168.00 price objective on shares of Apple in a research report on Tuesday, February 14th. Jefferies Financial Group reaffirmed a “buy” rating and set a $195.00 price objective on shares of Apple in a research report on Thursday, March 2nd. Barclays lifted their price objective on Apple from $133.00 to $145.00 and gave the company an “equal weight” rating in a research report on Friday, February 3rd. Rosenblatt Securities lifted their price objective on Apple from $165.00 to $173.00 and gave the company a “buy” rating in a research report on Friday, February 3rd. Finally, Cowen lowered their price objective on Apple from $200.00 to $195.00 and set an “outperform” rating on the stock in a research report on Friday, February 3rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $168.24.
Apple Trading Up 1.4 %
Apple (NASDAQ:AAPL – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The iPhone maker reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $121.67 billion. During the same quarter in the prior year, the business earned $2.10 EPS. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. As a group, research analysts expect that Apple Inc. will post 6.04 EPS for the current fiscal year.
Apple Increases Dividend
The firm also recently declared 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 boost from Apple’s previous quarterly dividend of $0.17. This represents a $0.92 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend was Friday, February 10th. Apple’s dividend payout ratio (DPR) is currently 15.62%.
Apple Company Profile
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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