Municipal Employees Retirement System of Michigan lessened its stake in Apple Inc. (NASDAQ:AAPL) by 19.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 152,920 shares of the iPhone maker’s stock after selling 36,820 shares during the period. Apple comprises 1.2% of Municipal Employees Retirement System of Michigan’s portfolio, making the stock its biggest holding. Municipal Employees Retirement System of Michigan’s holdings in Apple were worth $23,568,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. YHB Investment Advisors Inc. lifted its stake in Apple by 7.6% during the second quarter. YHB Investment Advisors Inc. now owns 136,189 shares of the iPhone maker’s stock worth $19,614,000 after purchasing an additional 9,663 shares during the period. Jarislowsky Fraser Ltd lifted its stake in Apple by 22.4% during the third quarter. Jarislowsky Fraser Ltd now owns 22,515 shares of the iPhone maker’s stock worth $3,470,000 after purchasing an additional 4,118 shares during the period. Empirical Financial Services LLC lifted its stake in Apple by 23.9% during the second quarter. Empirical Financial Services LLC now owns 21,558 shares of the iPhone maker’s stock worth $3,105,000 after purchasing an additional 4,154 shares during the period. Carnick & Kubik Group LLC lifted its stake in Apple by 14.4% during the second quarter. Carnick & Kubik Group LLC now owns 20,744 shares of the iPhone maker’s stock worth $2,987,000 after purchasing an additional 2,612 shares during the period. Finally, GenTrust LLC lifted its stake in Apple by 1,022.9% during the second quarter. GenTrust LLC now owns 34,315 shares of the iPhone maker’s stock worth $4,942,000 after purchasing an additional 31,259 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.
Apple Inc. (AAPL) opened at $176.67 on Wednesday. Apple Inc. has a 52 week low of $137.05 and a 52 week high of $180.62. The company has a market cap of $896,430.00, a PE ratio of 17.29, a P/E/G ratio of 1.33 and a beta of 1.22. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.74.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $3.89 EPS for the quarter, beating the Zacks’ consensus estimate of $3.82 by $0.07. The business had revenue of $88.29 billion for the quarter, compared to analyst estimates of $87.62 billion. Apple had a net margin of 21.13% and a return on equity of 37.37%. Apple’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.36 EPS. equities analysts forecast that Apple Inc. will post 11.43 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend was Friday, February 9th. Apple’s dividend payout ratio is currently 24.66%.
Several research firms have recently weighed in on AAPL. Vetr lowered shares of Apple from a “buy” rating to a “hold” rating and set a $178.34 price objective for the company. in a report on Friday, December 1st. UBS Group set a $190.00 price objective on shares of Apple and gave the stock a “buy” rating in a report on Friday, January 5th. Morgan Stanley reaffirmed a “buy” rating and set a $205.00 price objective (up previously from $200.00) on shares of Apple in a report on Tuesday, January 23rd. Sanford C. Bernstein lowered shares of Apple from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $195.00 to $170.00 in a report on Friday, February 2nd. Finally, HSBC set a $204.00 price target on shares of Apple and gave the company a “buy” rating in a report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $201.57.
In other Apple news, insider Daniel J. Riccio sold 15,641 shares of the business’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $174.78, for a total value of $2,733,733.98. Following the completion of the sale, the insider now owns 13,739 shares of the company’s stock, valued at approximately $2,401,302.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.06% of the company’s stock.
Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.