Osborne Partners Capital Management LLC Has $17.71 Million Stake in Apple Inc. (NASDAQ:AAPL)

Osborne Partners Capital Management LLC trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 2.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 89,463 shares of the iPhone maker’s stock after selling 1,861 shares during the period. Apple comprises approximately 3.4% of Osborne Partners Capital Management LLC’s holdings, making the stock its 2nd largest position. Osborne Partners Capital Management LLC’s holdings in Apple were worth $17,706,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Gemmer Asset Management LLC lifted its stake in shares of Apple by 75.3% in the 2nd quarter. Gemmer Asset Management LLC now owns 13,654 shares of the iPhone maker’s stock valued at $2,702,000 after purchasing an additional 5,864 shares during the last quarter. Asset Planning Services Ltd. lifted its stake in shares of Apple by 1.8% in the 2nd quarter. Asset Planning Services Ltd. now owns 6,518 shares of the iPhone maker’s stock valued at $1,290,000 after purchasing an additional 118 shares during the last quarter. Spearhead Capital Advisors LLC lifted its stake in shares of Apple by 5.9% in the 2nd quarter. Spearhead Capital Advisors LLC now owns 38,334 shares of the iPhone maker’s stock valued at $7,587,000 after purchasing an additional 2,150 shares during the last quarter. Capital Investment Advisors LLC lifted its stake in shares of Apple by 2.1% in the 2nd quarter. Capital Investment Advisors LLC now owns 90,012 shares of the iPhone maker’s stock valued at $17,815,000 after purchasing an additional 1,890 shares during the last quarter. Finally, Centerpoint Advisors LLC lifted its stake in shares of Apple by 1.9% in the 2nd quarter. Centerpoint Advisors LLC now owns 5,500 shares of the iPhone maker’s stock valued at $1,088,000 after purchasing an additional 100 shares during the last quarter. 58.65% of the stock is owned by institutional investors and hedge funds.

AAPL traded up $2.18 during trading on Tuesday, hitting $195.52. 13,489,000 shares of the stock were exchanged, compared to its average volume of 24,797,644. The stock has a 50 day moving average price of $203.05. The firm has a market capitalization of $922.00 billion, a price-to-earnings ratio of 16.42, a price-to-earnings-growth ratio of 1.71 and a beta of 1.25. Apple Inc. has a 1 year low of $142.00 and a 1 year high of $233.47. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.47 and a current ratio of 1.50.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Tuesday, July 30th. The iPhone maker reported $2.18 EPS for the quarter, topping the consensus estimate of $2.10 by $0.08. The company had revenue of $53.81 billion for the quarter, compared to the consensus estimate of $53.39 billion. Apple had a return on equity of 52.13% and a net margin of 21.50%. Apple’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the business posted $2.34 EPS. As a group, equities analysts forecast that Apple Inc. will post 11.58 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, August 12th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $3.08 annualized dividend and a yield of 1.58%. Apple’s dividend payout ratio (DPR) is presently 25.86%.

Apple announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, April 30th that authorizes the company to buyback $75.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to reacquire up to 7.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Several equities research analysts have recently weighed in on the company. Rosenblatt Securities reiterated a “sell” rating and issued a $150.00 price target on shares of Apple in a report on Monday, July 8th. Monness Crespi & Hardt reiterated a “buy” rating and issued a $265.00 price target (up from $245.00) on shares of Apple in a report on Wednesday, July 31st. BidaskClub downgraded Apple from a “buy” rating to a “hold” rating in a report on Tuesday. Bank of America increased their price target on Apple from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Daiwa Capital Markets set a $212.00 price target on Apple and gave the stock a “buy” rating in a report on Wednesday, June 5th. Four investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Apple currently has a consensus rating of “Hold” and a consensus target price of $217.49.

In other Apple news, insider Chris Kondo sold 4,376 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $217.47, for a total transaction of $951,648.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Arthur D. Levinson sold 17,500 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $214.02, for a total value of $3,745,350.00. Following the sale, the director now directly owns 1,150,783 shares in the company, valued at approximately $246,290,577.66. The disclosure for this sale can be found here. 0.05% of the stock is currently owned by company insiders.

Apple Company 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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