Crossmark Global Holdings Inc. lowered its position in Apple Inc. (NASDAQ:AAPL) by 6.6% in the 2nd quarter, Holdings Channel reports. The firm owned 388,955 shares of the iPhone maker’s stock after selling 27,449 shares during the quarter. Apple accounts for approximately 1.9% of Crossmark Global Holdings Inc.’s portfolio, making the stock its 2nd biggest position. Crossmark Global Holdings Inc.’s holdings in Apple were worth $71,999,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Delphi Private Advisors LLC bought a new stake in shares of Apple during the second quarter valued at approximately $120,000. Quattro Financial Advisors LLC bought a new stake in shares of Apple during the first quarter valued at approximately $133,000. CX Institutional bought a new stake in shares of Apple during the second quarter valued at approximately $135,000. Spectrum Financial Alliance Ltd LLC bought a new stake in shares of Apple during the first quarter valued at approximately $138,000. Finally, Macroview Investment Management LLC raised its stake in shares of Apple by 220.3% during the first quarter. Macroview Investment Management LLC now owns 900 shares of the iPhone maker’s stock valued at $151,000 after acquiring an additional 619 shares in the last quarter. 57.65% of the stock is owned by institutional investors and hedge funds.
AAPL has been the subject of several research analyst reports. Citigroup decreased their price target on shares of Apple from $265.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, November 2nd. Morgan Stanley lifted their price target on shares of Apple from $226.00 to $253.00 and gave the company an “overweight” rating in a research note on Thursday, November 8th. Royal Bank of Canada set a $240.00 price target on shares of Apple and gave the company a “buy” rating in a research note on Monday, September 24th. Wells Fargo & Co reaffirmed a “neutral” rating and set a $210.00 price target on shares of Apple in a research note on Friday, August 10th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Apple in a research note on Thursday, September 27th. They set an “overweight” rating and a $272.00 price target for the company. Three investment analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and twenty-five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $223.07.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, November 1st. The iPhone maker reported $2.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.78 by $0.13. Apple had a net margin of 22.41% and a return on equity of 48.68%. The business had revenue of $62.90 billion for the quarter, compared to analyst estimates of $61.55 billion. During the same period in the previous year, the company earned $2.07 earnings per share. The business’s revenue for the quarter was up 19.6% on a year-over-year basis. Sell-side analysts anticipate that Apple Inc. will post 13.35 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Monday, November 12th were issued a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Thursday, November 8th. Apple’s dividend payout ratio is currently 24.52%.
In other news, CEO Timothy D. Cook sold 265,160 shares of the business’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $217.79, for a total transaction of $57,749,196.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Chris Kondo sold 3,408 shares of the business’s stock in a transaction on Monday, November 19th. The shares were sold at an average price of $190.00, for a total transaction of $647,520.00. Following the sale, the insider now directly owns 8,940 shares in the company, valued at $1,698,600. The disclosure for this sale can be found here. Insiders sold 470,005 shares of company stock worth $104,764,873 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.
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Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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