Beacon Capital Management Inc. Decreases Stake in Apple Inc. (NASDAQ:AAPL)

Beacon Capital Management Inc. lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 3.8% in the 3rd quarter, Holdings Channel reports. The firm owned 3,528 shares of the iPhone maker’s stock after selling 140 shares during the period. Apple accounts for 0.0% of Beacon Capital Management Inc.’s portfolio, making the stock its 26th biggest holding. Beacon Capital Management Inc.’s holdings in Apple were worth $499,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Apple by 2.1% in the second quarter. Vanguard Group Inc. now owns 1,264,936,543 shares of the iPhone maker’s stock worth $173,245,709,000 after purchasing an additional 25,553,808 shares during the last quarter. FMR LLC grew its holdings in shares of Apple by 1.6% in the second quarter. FMR LLC now owns 350,462,986 shares of the iPhone maker’s stock worth $47,999,410,000 after acquiring an additional 5,510,838 shares during the period. Geode Capital Management LLC grew its holdings in shares of Apple by 1.7% in the second quarter. Geode Capital Management LLC now owns 254,162,496 shares of the iPhone maker’s stock worth $34,705,731,000 after acquiring an additional 4,356,200 shares during the period. Morgan Stanley grew its holdings in shares of Apple by 2.8% in the second quarter. Morgan Stanley now owns 125,859,709 shares of the iPhone maker’s stock worth $17,237,745,000 after acquiring an additional 3,472,624 shares during the period. Finally, Legal & General Group Plc grew its holdings in shares of Apple by 3.6% in the second quarter. Legal & General Group Plc now owns 103,466,388 shares of the iPhone maker’s stock worth $14,170,746,000 after acquiring an additional 3,613,141 shares during the period. Hedge funds and other institutional investors own 56.40% of the company’s stock.

In related news, SVP Deirdre O’brien sold 18,247 shares of the stock in a transaction that occurred on Monday, October 18th. The stock was sold at an average price of $146.35, for a total value of $2,670,448.45. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Chris Kondo sold 9,005 shares of the stock in a transaction that occurred on Friday, November 12th. The stock was sold at an average price of $150.00, for a total value of $1,350,750.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 473,347 shares of company stock worth $67,822,283. Company insiders own 0.06% of the company’s stock.

Several analysts recently commented on AAPL shares. DZ Bank reaffirmed a “buy” rating on shares of Apple in a report on Tuesday, August 10th. JPMorgan Chase & Co. set a $180.00 price objective on Apple in a report on Tuesday. Bank of America set a $160.00 price objective on Apple and gave the stock a “neutral” rating in a report on Wednesday, October 13th. Monness Crespi & Hardt boosted their price target on Apple from $180.00 to $184.00 and gave the company a “buy” rating in a report on Wednesday, July 28th. Finally, Wedbush reissued a “buy” rating and set a $185.00 price target on shares of Apple in a report on Friday, September 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $165.56.

Shares of AAPL stock opened at $161.94 on Thursday. Apple Inc. has a 1 year low of $115.17 and a 1 year high of $165.70. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.07 and a quick ratio of 1.02. The stock’s 50 day simple moving average is $148.13 and its two-hundred day simple moving average is $142.67. The company has a market cap of $2.66 trillion, a PE ratio of 28.81, a price-to-earnings-growth ratio of 2.23 and a beta of 1.21.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Wednesday, October 27th. The iPhone maker reported $1.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.24. Apple had a return on equity of 144.13% and a net margin of 25.88%. The business had revenue of $83.40 billion for the quarter, compared to the consensus estimate of $84.94 billion. During the same period in the prior year, the business posted $0.73 earnings per share. The company’s quarterly revenue was up 28.9% compared to the same quarter last year. Equities research analysts expect that Apple Inc. will post 5.77 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 11th. Stockholders of record on Monday, November 8th were issued a $0.22 dividend. The ex-dividend date of this dividend was Friday, November 5th. This represents a $0.88 annualized dividend and a dividend yield of 0.54%. Apple’s payout ratio is 15.66%.

Apple Company Profile

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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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