Agur Provident & Training Funds Management Ltd. Decreases Stake in Apple Inc. (AAPL)

Agur Provident & Training Funds Management Ltd. reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 70.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,104 shares of the iPhone maker’s stock after selling 36,330 shares during the period. Apple comprises about 2.8% of Agur Provident & Training Funds Management Ltd.’s holdings, making the stock its 8th largest position. Agur Provident & Training Funds Management Ltd.’s holdings in Apple were worth $2,170,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of AAPL. Glacier Peak Capital LLC bought a new stake in shares of Apple during the fourth quarter worth approximately $127,000. Portfolio Solutions LLC acquired a new position in shares of Apple during the first quarter worth $169,000. Odey Holdings AG increased its position in shares of Apple by 27.3% in the fourth quarter. Odey Holdings AG now owns 1,273 shares of the iPhone maker’s stock worth $147,000 after buying an additional 273 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Apple during the first quarter worth $201,000. Finally, Stone House Investment Management LLC acquired a new position in shares of Apple during the first quarter worth $225,000. 61.50% of the stock is owned by institutional investors and hedge funds.

Shares of Apple Inc. (NASDAQ:AAPL) opened at 157.50 on Friday. Apple Inc. has a one year low of $102.53 and a one year high of $162.51. The company’s 50-day moving average is $151.99 and its 200-day moving average is $145.63. The stock has a market capitalization of $813.52 billion, a P/E ratio of 17.88 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 (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.10. The company had revenue of $45.41 billion for the quarter, compared to analysts’ expectations of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. Apple’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.42 EPS. On average, equities research analysts anticipate that Apple Inc. will post $9.02 earnings per share for the current year.

Apple announced that its board has approved a stock repurchase program on Tuesday, May 2nd that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were paid 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 currently 28.64%.

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A number of brokerages have issued reports on AAPL. UBS AG reissued a “buy” rating and set a $151.00 target price on shares of Apple in a report on Monday, April 24th. FBN Securities boosted their target price on shares of Apple from $155.00 to $160.00 and gave the company an “outperform” rating in a report on Thursday, May 4th. Credit Suisse Group reissued an “outperform” rating and set a $170.00 target price on shares of Apple in a report on Tuesday, June 6th. Deutsche Bank AG reissued a “hold” rating and set a $130.00 target price on shares of Apple in a report on Tuesday, June 6th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $170.00 price target on shares of Apple in a report on Tuesday, July 25th. Eleven equities research analysts have rated the stock with a hold rating, forty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $167.38.

In other news, Director Arthur D. Levinson sold 35,000 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $157.58, for a total transaction of $5,515,300.00. Following the transaction, the director now directly owns 1,168,283 shares of the company’s stock, valued at approximately $184,098,035.14. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Johny Srouji sold 10,000 shares of the company’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $153.20, for a total transaction of $1,532,000.00. Following the transaction, the senior vice president now directly owns 96,738 shares in the company, valued at $14,820,261.60. The disclosure for this sale can be found here. Insiders sold a total of 304,640 shares of company stock worth $47,405,994 over the last three months. 0.08% of the stock is currently owned by corporate insiders.

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.

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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