Sterneck Capital Management LLC Has $9.68 Million Stake in Apple Inc. (AAPL)

Sterneck Capital Management LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 0.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,196 shares of the iPhone maker’s stock after selling 180 shares during the quarter. Apple accounts for 5.8% of Sterneck Capital Management LLC’s portfolio, making the stock its largest position. Sterneck Capital Management LLC’s holdings in Apple were worth $9,678,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Blue Sky Asset Management LLC bought a new stake in Apple during the 2nd quarter worth about $108,000. Hefty Wealth Partners lifted its position in Apple by 27.6% during the 2nd quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after buying an additional 174 shares in the last quarter. FNY Managed Accounts LLC lifted its position in Apple by 852.4% during the 2nd quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after buying an additional 716 shares in the last quarter. American Beacon Advisors Inc. bought a new stake in Apple during the 1st quarter worth about $117,000. Finally, Private Vista LLC bought a new stake in Apple during the 2nd quarter worth about $122,000. 59.78% of the stock is currently owned by institutional investors and hedge funds.

In other Apple news, insider Angela J. Ahrendts sold 63,388 shares of the stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $154.21, for a total transaction of $9,775,063.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Philip W. Schiller sold 56,808 shares of the stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $154.70, for a total transaction of $8,788,197.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 232,967 shares of company stock worth $37,944,683. Company insiders own 0.08% of the company’s stock.

Several equities research analysts have commented on the stock. Nomura set a $185.00 price target on shares of Apple and gave the stock a “buy” rating in a research report on Monday, November 27th. UBS set a $190.00 price target on shares of Apple and gave the stock a “buy” rating in a research report on Monday, November 27th. Vetr cut shares of Apple from a “buy” rating to a “hold” rating and set a $178.70 price target on the stock. in a research report on Thursday, November 23rd. Wells Fargo & Company reissued a “market perform” rating and set a $195.00 price target on shares of Apple in a research report on Tuesday, November 14th. Finally, Argus boosted their price target on shares of Apple from $185.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, November 6th. Seven equities research analysts have rated the stock with a hold rating, forty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $200.27.

Apple Inc. (NASDAQ AAPL) opened at $171.70 on Wednesday. Apple Inc. has a 52 week low of $113.75 and a 52 week high of $176.24. The company has a market cap of $886,541.63, a PE ratio of 18.77, a P/E/G ratio of 1.38 and a beta of 1.22. The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.73.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.20. Apple had a net margin of 21.09% and a return on equity of 36.29%. The business had revenue of $52.58 billion for the quarter, compared to analyst estimates of $50.71 billion. During the same quarter in the prior year, the business earned $1.50 EPS. Apple’s quarterly revenue was up 12.2% on a year-over-year basis. equities analysts forecast that Apple Inc. will post 11.18 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, November 13th were given a dividend of $0.63 per share. The ex-dividend date was Friday, November 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.47%. Apple’s payout ratio is presently 27.39%.

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About Apple

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.

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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