Commerce Bank cut its stake in Apple Inc. (NASDAQ:AAPL) by 0.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 4,428,711 shares of the iPhone maker’s stock after selling 12,623 shares during the quarter. Apple comprises approximately 4.3% of Commerce Bank’s investment portfolio, making the stock its biggest position. Commerce Bank’s holdings in Apple were worth $606,557,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. OLD Mission Capital LLC acquired a new position in shares of Apple during the 3rd quarter worth $1,238,000. Atlas Private Wealth Management raised its holdings in shares of Apple by 0.8% during the 1st quarter. Atlas Private Wealth Management now owns 51,756 shares of the iPhone maker’s stock worth $6,322,000 after buying an additional 396 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Apple by 2.5% during the 1st quarter. Fisher Asset Management LLC now owns 62,813,919 shares of the iPhone maker’s stock worth $7,672,720,000 after buying an additional 1,538,571 shares in the last quarter. Red Door Wealth Management LLC raised its holdings in shares of Apple by 3.0% during the 1st quarter. Red Door Wealth Management LLC now owns 82,310 shares of the iPhone maker’s stock worth $10,089,000 after buying an additional 2,372 shares in the last quarter. Finally, Stratos Wealth Advisors LLC raised its holdings in shares of Apple by 5.4% during the 1st quarter. Stratos Wealth Advisors LLC now owns 134,781 shares of the iPhone maker’s stock worth $16,464,000 after buying an additional 6,921 shares in the last quarter. 56.38% of the stock is owned by hedge funds and other institutional investors.
In other news, SVP Katherine L. Adams sold 17,000 shares of the company’s stock in a transaction that occurred on Monday, August 2nd. The stock was sold at an average price of $145.89, for a total value of $2,480,130.00. Following the completion of the transaction, the senior vice president now directly owns 324,164 shares of the company’s stock, valued at $47,292,285.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Deirdre O’brien sold 14,877 shares of the company’s stock in a transaction that occurred on Friday, August 6th. The shares were sold at an average price of $145.99, for a total value of $2,171,893.23. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,418,317 shares of company stock valued at $359,229,278. Company insiders own 0.06% of the company’s stock.
AAPL stock opened at $148.12 on Wednesday. The stock’s 50 day simple moving average is $148.32 and its 200 day simple moving average is $135.13. Apple Inc. has a fifty-two week low of $103.10 and a fifty-two week high of $157.26. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.01 and a current ratio of 1.06. The company has a market cap of $2.45 trillion, a P/E ratio of 28.99, a price-to-earnings-growth ratio of 2.10 and a beta of 1.20.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Monday, July 26th. The iPhone maker reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.29. Apple had a return on equity of 131.01% and a net margin of 25.00%. The business had revenue of $81.40 billion for the quarter, compared to the consensus estimate of $73.48 billion. During the same period in the prior year, the business earned $0.64 EPS. The firm’s revenue for the quarter was up 36.4% on a year-over-year basis. Equities analysts predict that Apple Inc. will post 5.59 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 12th. Stockholders of record on Monday, August 9th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Friday, August 6th. Apple’s dividend payout ratio (DPR) is presently 26.83%.
Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other variety 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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