Continental Investors Services Inc. grew its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 6,300.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 400,241 shares of the iPhone maker’s stock after purchasing an additional 393,988 shares during the period. Apple accounts for 2.3% of Continental Investors Services Inc.’s holdings, making the stock its 10th largest position. Continental Investors Services Inc.’s holdings in Apple were worth $62,818,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in AAPL. Robinson Value Management Ltd. acquired a new position in shares of Apple in the 3rd quarter worth approximately $28,000. Hanseatic Management Services Inc. lifted its holdings in Apple by 75.4% during the 3rd quarter. Hanseatic Management Services Inc. now owns 249 shares of the iPhone maker’s stock worth $34,000 after buying an additional 107 shares in the last quarter. Cheyne Capital Management UK LLP lifted its holdings in Apple by 200.0% during the 3rd quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock worth $293,000 after buying an additional 550 shares in the last quarter. Ramsey Quantitative Systems acquired a new stake in Apple during the 2nd quarter worth approximately $55,000. Finally, Morgan Dempsey Capital Management LLC acquired a new stake in Apple during the 3rd quarter worth approximately $55,000. Hedge funds and other institutional investors own 57.60% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have commented on AAPL. Cowen dropped their price objective on shares of Apple from $200.00 to $195.00 and set an “outperform” rating on the stock in a research report on Friday, February 3rd. Fundamental Research reaffirmed a “buy” rating and issued a $168.00 target price on shares of Apple in a research report on Tuesday, February 14th. Rosenblatt Securities increased their target price on shares of Apple from $165.00 to $173.00 and gave the company a “buy” rating in a research report on Friday, February 3rd. The Goldman Sachs Group began coverage on shares of Apple in a research report on Sunday, March 5th. They issued a “buy” rating and a $199.00 target price on the stock. Finally, Wedbush increased their target price on shares of Apple from $180.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, March 8th. Two analysts have rated the stock with a sell rating, five have given a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $168.24.
Apple Trading Up 1.9 %
Apple (NASDAQ:AAPL – Get Rating) last posted its earnings results on Thursday, February 2nd. The iPhone maker reported $1.88 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 analyst estimates of $121.67 billion. During the same period in the previous year, the firm posted $2.10 earnings per share. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. Equities research analysts predict that Apple Inc. will post 6.04 EPS for the current fiscal year.
Apple Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, February 16th. Investors of record on Monday, February 13th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, February 10th. This is a boost from Apple’s previous quarterly dividend of $0.17. This represents a $0.92 annualized dividend and a yield of 0.59%. Apple’s dividend payout ratio 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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