Jaffetilchin Investment Partners LLC Grows Position in Apple Inc. (AAPL)

Jaffetilchin Investment Partners LLC increased its holdings in Apple Inc. (NASDAQ:AAPL) by 13.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,029 shares of the iPhone maker’s stock after acquiring an additional 5,455 shares during the quarter. Apple makes up about 1.6% of Jaffetilchin Investment Partners LLC’s investment portfolio, making the stock its 13th largest position. Jaffetilchin Investment Partners LLC owned approximately 8.72% of Apple worth $6,940,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in AAPL. Blue Sky Asset Management LLC bought a new position in Apple in the second quarter worth about $108,000. FNY Managed Accounts LLC raised its holdings in Apple by 852.4% in the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after purchasing an additional 716 shares in the last quarter. Private Vista LLC bought a new position in Apple in the second quarter worth about $122,000. Armbruster Capital Management Inc. raised its holdings in Apple by 9.4% in the second quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock worth $131,000 after purchasing an additional 78 shares in the last quarter. Finally, Crow Point Partners LLC raised its holdings in Apple by 100.0% in the third quarter. Crow Point Partners LLC now owns 1,000 shares of the iPhone maker’s stock worth $153,000 after purchasing an additional 500 shares in the last quarter. 60.23% of the stock is owned by institutional investors.

Apple Inc. (NASDAQ:AAPL) opened at $156.41 on Friday. Apple Inc. has a fifty-two week low of $131.12 and a fifty-two week high of $180.10. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.24 and a quick ratio of 1.20. The firm has a market cap of $800,070.00, a P/E ratio of 16.09, a P/E/G ratio of 1.17 and a beta of 1.33.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.82 by $0.07. Apple had a net margin of 21.13% and a return on equity of 37.37%. The company had revenue of $88.29 billion for the quarter, compared to the consensus estimate of $87.62 billion. During the same quarter in the prior year, the company earned $3.36 EPS. Apple’s quarterly revenue was up 12.7% on a year-over-year basis. analysts expect that Apple Inc. will post 11.4 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Monday, February 12th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 9th. This represents a $2.52 annualized dividend and a yield of 1.61%. Apple’s dividend payout ratio (DPR) is presently 25.93%.

In other Apple news, insider Daniel J. Riccio sold 15,641 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $169.69, for a total value of $2,654,121.29. Following the sale, the insider now owns 17,341 shares in the company, valued at approximately $2,942,594.29. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Eduardo H. Cue sold 65,361 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $171.60, for a total value of $11,215,947.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 128,412 shares of company stock worth $22,115,155. Insiders own 0.08% of the company’s stock.

A number of equities analysts have commented on the stock. BMO Capital Markets downgraded shares of Apple from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $162.00 to $166.00 in a report on Wednesday, January 31st. ValuEngine upgraded shares of Apple from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Sanford C. Bernstein downgraded shares of Apple from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $195.00 to $170.00 in a report on Friday, February 2nd. William Blair reiterated an “outperform” rating on shares of Apple in a report on Friday, February 2nd. Finally, Bank of America reiterated an “outperform” rating and issued a $159.54 target price (down from $220.00) on shares of Apple in a report on Thursday. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $200.43.

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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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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