Searle & CO. lowered its stake in Apple Inc. (NASDAQ:AAPL) by 0.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,795 shares of the iPhone maker’s stock after selling 17 shares during the period. Apple accounts for approximately 1.7% of Searle & CO.’s holdings, making the stock its 13th largest position. Searle & CO.’s holdings in Apple were worth $2,419,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Apple during the fourth quarter valued at about $5,625,709,000. Glenview Capital Management LLC purchased a new stake in Apple during the fourth quarter valued at about $365,191,000. Canada Pension Plan Investment Board boosted its stake in Apple by 23.2% in the first quarter. Canada Pension Plan Investment Board now owns 9,289,482 shares of the iPhone maker’s stock valued at $1,334,527,000 after buying an additional 1,749,797 shares in the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new stake in Apple during the first quarter valued at about $190,134,000. Finally, Tyers Asset Management LLC purchased a new stake in Apple during the fourth quarter valued at about $139,240,000. 61.50% of the stock is currently owned by institutional investors.
Shares of Apple Inc. (AAPL) traded up 0.8155% during mid-day trading on Friday, hitting $159.1473. The stock had a trading volume of 16,680,308 shares. Apple Inc. has a 52 week low of $102.53 and a 52 week high of $162.51. The stock has a 50 day moving average price of $151.60 and a 200 day moving average price of $145.37. The firm has a market cap of $822.03 billion, a PE ratio of 18.0685 and a beta of 1.31.
Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.10. The firm had revenue of $45.41 billion during the quarter, compared to analysts’ expectations of $44.94 billion. Apple had a return on equity of 35.40% and a net margin of 20.87%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.42 EPS. Equities research analysts expect that Apple Inc. will post $9.02 EPS for the current fiscal year.
Apple declared that its Board of Directors has initiated a stock buyback plan on Tuesday, May 2nd that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to buy up to 6.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were issued a $0.63 dividend. The ex-dividend date was Thursday, August 10th. This represents a $2.52 annualized dividend and a yield of 1.60%. Apple’s dividend payout ratio is presently 28.64%.
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Several equities research analysts have issued reports on AAPL shares. Royal Bank Of Canada raised their price target on shares of Apple from $157.00 to $168.00 and gave the stock an “outperform” rating in a research note on Monday, May 22nd. Morgan Stanley raised their price target on shares of Apple from $177.00 to $182.00 and gave the stock an “overweight” rating in a research note on Monday, July 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $175.00 price target (up from $165.00) on shares of Apple in a research note on Wednesday, August 2nd. They noted that the move was a valuation call. Rosenblatt Securities set a $120.00 price target on shares of Apple and gave the stock a “hold” rating in a research note on Wednesday, May 3rd. Finally, Bank of America Corporation reiterated a “buy” rating and set a $180.00 price objective (up from $175.00) on shares of Apple in a report on Wednesday, August 2nd. Eleven analysts have rated the stock with a hold rating, forty-three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $167.38.
In other Apple news, Director Arthur D. Levinson sold 35,000 shares of Apple stock in a transaction on Monday, August 7th. The stock was sold at an average price of $157.58, for a total value of $5,515,300.00. Following the completion of the transaction, the director now directly owns 1,168,283 shares of the company’s stock, valued at approximately $184,098,035.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eduardo H. Cue sold 45,000 shares of Apple stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $153.78, for a total value of $6,920,100.00. The disclosure for this sale can be found here. Insiders sold a total of 294,171 shares of company stock valued at $45,707,922 over the last ninety days. Insiders own 0.08% of the company’s stock.
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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