Fort Pitt Capital Group LLC Sells 381 Shares of Apple Inc. (AAPL)

Fort Pitt Capital Group LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,603 shares of the iPhone maker’s stock after selling 381 shares during the quarter. Fort Pitt Capital Group LLC’s holdings in Apple were worth $2,535,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Stone House Investment Management LLC increased its holdings in Apple by 0.4% in the 2nd quarter. Stone House Investment Management LLC now owns 1,570 shares of the iPhone maker’s stock valued at $226,000 after buying an additional 6 shares during the period. Jackson Grant Investment Advisers Inc. increased its holdings in Apple by 0.3% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 5,431 shares of the iPhone maker’s stock valued at $782,000 after buying an additional 17 shares during the period. Lenox Wealth Advisors Inc. increased its holdings in Apple by 0.4% in the 2nd quarter. Lenox Wealth Advisors Inc. now owns 4,971 shares of the iPhone maker’s stock valued at $716,000 after buying an additional 20 shares during the period. Karp Capital Management Corp increased its holdings in Apple by 1.6% in the 2nd quarter. Karp Capital Management Corp now owns 1,427 shares of the iPhone maker’s stock valued at $206,000 after buying an additional 22 shares during the period. Finally, Welch Investments LLC increased its holdings in Apple by 1.5% in the 2nd quarter. Welch Investments LLC now owns 1,607 shares of the iPhone maker’s stock valued at $231,000 after buying an additional 23 shares during the period. 59.78% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have commented on the stock. Vetr raised shares of Apple from a “buy” rating to a “strong-buy” rating and set a $173.06 target price on the stock in a report on Friday, September 22nd. Rosenblatt Securities reissued a “hold” rating and issued a $150.00 target price on shares of Apple in a report on Sunday, October 15th. Citigroup reissued a “buy” rating and issued a $200.00 target price (up from $170.00) on shares of Apple in a report on Friday, November 3rd. They noted that the move was a valuation call. UBS set a $190.00 price target on shares of Apple and gave the company a “buy” rating in a report on Monday, December 4th. Finally, Bank of America reaffirmed a “buy” rating and set a $180.00 price target on shares of Apple in a report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating, forty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $197.57.

In other news, insider Philip W. Schiller sold 56,808 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $154.70, for a total value of $8,788,197.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Johny Srouji sold 10,368 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $174.68, for a total transaction of $1,811,082.24. Following the completion of the transaction, the insider now owns 81,560 shares in the company, valued at approximately $14,246,900.80. The disclosure for this sale can be found here. Insiders sold a total of 232,967 shares of company stock worth $37,944,683 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Apple Inc. (NASDAQ AAPL) opened at $172.27 on Thursday. The stock has a market cap of $886,541.63, a P/E ratio of 18.77, a PEG ratio of 1.38 and a beta of 1.22. Apple Inc. has a 1 year low of $114.76 and a 1 year high of $176.24. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.28 and a quick ratio of 1.23.

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

The company also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Monday, November 13th were given a $0.63 dividend. The ex-dividend date was Friday, November 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.46%. Apple’s dividend payout ratio (DPR) is currently 27.39%.

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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.

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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