Telos Capital Management Inc. Sells 9,399 Shares of Apple Inc. (AAPL)

Telos Capital Management Inc. lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 16.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,825 shares of the iPhone maker’s stock after selling 9,399 shares during the period. Apple comprises about 2.9% of Telos Capital Management Inc.’s investment portfolio, making the stock its 2nd biggest holding. Telos Capital Management Inc. owned approximately 9.45% of Apple worth $7,525,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in AAPL. Obermeyer Wood Investment Counsel Lllp lifted its position in shares of Apple by 12.5% in the 3rd quarter. Obermeyer Wood Investment Counsel Lllp now owns 10,214 shares of the iPhone maker’s stock worth $1,574,000 after purchasing an additional 1,131 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI lifted its position in shares of Apple by 2.1% in the 3rd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 76,483 shares of the iPhone maker’s stock worth $11,788,000 after purchasing an additional 1,549 shares during the period. Smith Asset Management Group LP lifted its position in shares of Apple by 19.2% in the 3rd quarter. Smith Asset Management Group LP now owns 826,705 shares of the iPhone maker’s stock worth $127,413,000 after purchasing an additional 133,004 shares during the period. Pettee Investors Inc. lifted its position in shares of Apple by 11.0% in the 3rd quarter. Pettee Investors Inc. now owns 15,440 shares of the iPhone maker’s stock worth $2,380,000 after purchasing an additional 1,530 shares during the period. Finally, Nicolet Bankshares Inc. lifted its position in shares of Apple by 2.4% in the 3rd quarter. Nicolet Bankshares Inc. now owns 26,077 shares of the iPhone maker’s stock worth $4,019,000 after purchasing an additional 619 shares during the period. 60.23% of the stock is owned by institutional investors and hedge funds.

Shares of Apple Inc. (NASDAQ AAPL) opened at $156.41 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.24. The firm has a market cap of $800,070.00, a PE ratio of 16.09, a price-to-earnings-growth ratio of 1.17 and a beta of 1.33. Apple Inc. has a 12 month low of $131.12 and a 12 month high of $180.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.82 by $0.07. The firm had revenue of $88.29 billion for the quarter, compared to the consensus estimate of $87.62 billion. Apple had a net margin of 21.13% and a return on equity of 37.37%. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm posted $3.36 EPS. equities research analysts predict that Apple Inc. will post 11.4 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Monday, February 12th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Friday, February 9th. Apple’s payout ratio is presently 25.93%.

AAPL has been the subject of several research analyst reports. Barclays raised their target price on shares of Apple to $161.00 and gave the stock an “equal weight” rating in a research report on Friday, October 13th. Rosenblatt Securities reaffirmed a “hold” rating and issued a $150.00 target price on shares of Apple in a research report on Sunday, October 15th. Pacific Crest upgraded shares of Apple from a “sector weight” rating to an “overweight” rating and set a $187.00 price target for the company in a research note on Monday, October 16th. KeyCorp upgraded shares of Apple from a “sector weight” rating to an “overweight” rating and increased their price target for the stock from $173.75 to $187.00 in a research note on Monday, October 16th. Finally, Mizuho set a $160.00 price target on shares of Apple and gave the stock a “hold” rating in a research note on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $200.43.

In other news, insider Daniel J. Riccio sold 15,641 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $172.35, for a total transaction of $2,695,726.35. Following the sale, the insider now owns 39,682 shares of the company’s stock, valued at approximately $6,839,192.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Johny Srouji sold 5,760 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $174.40, for a total transaction of $1,004,544.00. Following the sale, the senior vice president now directly owns 81,560 shares in the company, valued at approximately $14,224,064. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 128,412 shares of company stock worth $22,115,155. Insiders own 0.08% of the company’s stock.

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Apple Company Profile

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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