Apple Inc. (NASDAQ:AAPL) Position Lowered by Portland Hill Asset Management Ltd

Portland Hill Asset Management Ltd lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 79,742 shares of the iPhone maker’s stock after selling 1,414 shares during the period. Apple accounts for approximately 6.6% of Portland Hill Asset Management Ltd’s portfolio, making the stock its 5th biggest position. Portland Hill Asset Management Ltd’s holdings in Apple were worth $9,819,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Clear Perspectives Financial Planning LLC purchased a new stake in Apple in the 4th quarter valued at about $27,000. EMC Capital Management purchased a new stake in Apple in the 4th quarter valued at about $80,000. Lloyd Advisory Services LLC. raised its holdings in Apple by 20.1% in the 4th quarter. Lloyd Advisory Services LLC. now owns 760 shares of the iPhone maker’s stock valued at $101,000 after buying an additional 127 shares during the period. Hoese & Co LLP purchased a new stake in Apple in the 4th quarter valued at about $106,000. Finally, Itau Unibanco Holding S.A. raised its holdings in Apple by 9,693.5% in the 4th quarter. Itau Unibanco Holding S.A. now owns 7,778,120 shares of the iPhone maker’s stock valued at $123,000 after buying an additional 7,698,699 shares during the period. Institutional investors and hedge funds own 56.33% of the company’s stock.

Apple stock opened at $126.11 on Friday. Apple Inc. has a 12 month low of $83.14 and a 12 month high of $145.09. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.14 and a quick ratio of 1.09. The business’s 50 day moving average is $128.66. The stock has a market capitalization of $2.10 trillion, a PE ratio of 28.31, a PEG ratio of 1.91 and a beta of 1.21.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, April 27th. The iPhone maker reported $1.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.41. Apple had a return on equity of 111.80% and a net margin of 23.45%. The firm had revenue of $89.58 billion for the quarter, compared to analyst estimates of $76.84 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. Apple’s quarterly revenue was up 53.6% on a year-over-year basis. Sell-side analysts expect that Apple Inc. will post 5.17 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 13th. Investors of record on Monday, May 10th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend was Friday, May 7th. This is a positive change from Apple’s previous quarterly dividend of $0.21. Apple’s dividend payout ratio is currently 26.83%.

Several analysts recently issued reports on AAPL shares. The Goldman Sachs Group restated a “neutral” rating and issued a $130.00 price objective on shares of Apple in a report on Tuesday. Sanford C. Bernstein set a $132.00 target price on Apple and gave the company a “neutral” rating in a research report on Tuesday, May 11th. Wedbush lifted their target price on Apple from $175.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday, April 29th. Raymond James lifted their target price on Apple from $160.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday, April 29th. Finally, Monness Crespi & Hardt lifted their target price on Apple from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, April 29th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-six have given a buy rating to the company’s stock. Apple has a consensus rating of “Buy” and a consensus price target of $148.91.

In other Apple news, CFO Luca Maestri sold 121,072 shares of the company’s stock in a transaction on Monday, May 3rd. The stock was sold at an average price of $132.81, for a total value of $16,079,572.32. Following the sale, the chief financial officer now owns 143,961 shares of the company’s stock, valued at $19,119,460.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Deirdre O’brien sold 18,216 shares of the company’s stock in a transaction on Friday, April 16th. The shares were sold at an average price of $134.01, for a total value of $2,441,126.16. The disclosure for this sale can be found here. Insiders have sold 290,155 shares of company stock worth $37,610,735 in the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Apple Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, iPod touch, and other Apple-branded and third-party accessories.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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