Apple Inc. (NASDAQ:AAPL) is Pecaut & CO.’s 2nd Largest Position

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Pecaut & CO. reduced its position in Apple Inc. (NASDAQ:AAPL) by 1.7% in the second quarter, Holdings Channel.com reports. The fund owned 58,848 shares of the iPhone maker’s stock after selling 1,046 shares during the period. Apple makes up about 8.0% of Pecaut & CO.’s investment portfolio, making the stock its 2nd largest position. Pecaut & CO.’s holdings in Apple were worth $11,647,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Semmax Financial Advisors Inc. purchased a new position in Apple in the 4th quarter worth approximately $50,000. Avondale Wealth Management raised its holdings in Apple by 25.4% in the 2nd quarter. Avondale Wealth Management now owns 316 shares of the iPhone maker’s stock worth $63,000 after acquiring an additional 64 shares during the last quarter. NuWave Investment Management LLC raised its holdings in Apple by 2,245.0% in the 2nd quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone maker’s stock worth $93,000 after acquiring an additional 449 shares during the last quarter. Horan Securities Inc. raised its holdings in Apple by 64.2% in the 2nd quarter. Horan Securities Inc. now owns 565 shares of the iPhone maker’s stock worth $112,000 after acquiring an additional 221 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. raised its holdings in Apple by 339.1% in the 2nd quarter. C M Bidwell & Associates Ltd. now owns 764 shares of the iPhone maker’s stock worth $151,000 after acquiring an additional 590 shares during the last quarter. Institutional investors own 58.77% of the company’s stock.

AAPL has been the subject of a number of research analyst reports. Raymond James raised shares of Apple from a “market perform” rating to an “outperform” rating and set a $250.00 target price for the company in a research report on Thursday, July 18th. ValuEngine raised shares of Apple from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Cascend Securities reaffirmed a “buy” rating and issued a $240.00 target price (up previously from $210.00) on shares of Apple in a research report on Thursday, June 20th. Deutsche Bank set a $210.00 target price on shares of Apple and gave the stock a “hold” rating in a research report on Wednesday, September 4th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $240.00 target price (up previously from $202.00) on shares of Apple in a research report on Wednesday, July 31st. Four equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Apple currently has a consensus rating of “Hold” and an average target price of $218.18.

Shares of AAPL stock traded down $4.02 during mid-day trading on Friday, reaching $219.07. 1,084,421 shares of the company’s stock traded hands, compared to its average volume of 24,353,276. Apple Inc. has a 12 month low of $142.00 and a 12 month high of $233.47. The firm has a 50 day moving average price of $207.16 and a two-hundred day moving average price of $196.48. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.47 and a current ratio of 1.50. The firm has a market capitalization of $979.31 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 1.79 and a beta of 1.24.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.08. Apple had a net margin of 21.50% and a return on equity of 52.13%. The firm had revenue of $53.81 billion during the quarter, compared to the consensus estimate of $53.39 billion. During the same quarter in the previous year, the firm posted $2.34 EPS. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, equities analysts expect that Apple Inc. will post 11.68 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 1.41%. The ex-dividend date was Friday, August 9th. Apple’s dividend payout ratio is currently 25.86%.

In related news, Director Arthur D. Levinson sold 17,500 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $201.69, for a total value of $3,529,575.00. Following the completion of the transaction, the director now owns 1,150,783 shares of the company’s stock, valued at approximately $232,101,423.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy D. Cook sold 265,160 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $206.17, for a total transaction of $54,668,037.20. The disclosure for this sale can be found here. Insiders sold a total of 304,536 shares of company stock valued at $62,894,611 in the last ninety days. 0.05% of the stock is currently owned by insiders.

Apple Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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