Grimes & Company Inc. cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 7.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 111,349 shares of the iPhone maker’s stock after selling 8,840 shares during the period. Apple comprises approximately 1.8% of Grimes & Company Inc.’s holdings, making the stock its 12th largest position. Grimes & Company Inc.’s holdings in Apple were worth $16,037,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the stock. FC Advisory LLC increased its position in Apple by 0.4% in the second quarter. FC Advisory LLC now owns 2,576 shares of the iPhone maker’s stock worth $371,000 after buying an additional 10 shares during the last quarter. Stonehearth Capital Management LLC increased its position in Apple by 0.8% in the first quarter. Stonehearth Capital Management LLC now owns 2,378 shares of the iPhone maker’s stock worth $342,000 after buying an additional 20 shares during the last quarter. Lenox Wealth Advisors Inc. increased its position in Apple by 0.4% in the second quarter. Lenox Wealth Advisors Inc. now owns 4,971 shares of the iPhone maker’s stock worth $716,000 after buying an additional 20 shares during the last quarter. BerganKDV Wealth Management LLC increased its position in Apple by 0.4% in the second quarter. BerganKDV Wealth Management LLC now owns 5,614 shares of the iPhone maker’s stock worth $809,000 after buying an additional 20 shares during the last quarter. Finally, Noven Financial Group Inc. increased its position in Apple by 0.3% in the fourth quarter. Noven Financial Group Inc. now owns 7,396 shares of the iPhone maker’s stock worth $857,000 after buying an additional 22 shares during the last quarter. Institutional investors own 61.13% of the company’s stock.
Apple Inc. (AAPL) traded up 1.39% during mid-day trading on Friday, hitting $157.48. The company’s stock had a trading volume of 26,257,096 shares. The firm’s 50-day moving average is $149.92 and its 200-day moving average is $144.27. Apple Inc. has a 12-month low of $102.53 and a 12-month high of $161.83. The company has a market cap of $813.42 billion, a P/E ratio of 17.88 and a beta of 1.31.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, beating the consensus estimate of $1.57 by $0.10. Apple had a return on equity of 35.40% and a net margin of 20.87%. The firm had revenue of $45.41 billion during the quarter, compared to analyst estimates of $44.94 billion. During the same quarter in the prior year, the business posted $1.42 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. Analysts predict that Apple Inc. will post $9.02 EPS for the current fiscal year.
Apple declared that its board has initiated a stock repurchase plan on Tuesday, May 2nd that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to purchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Monday, August 14th will be issued a dividend of $0.63 per share. The ex-dividend date is Thursday, August 10th. This represents a $2.52 annualized dividend and a dividend yield of 1.60%. Apple’s dividend payout ratio is presently 28.64%.
A number of research analysts have issued reports on AAPL shares. Oppenheimer Holdings, Inc. restated a “” rating on shares of Apple in a research report on Thursday. Guggenheim reaffirmed a “buy” rating and issued a $180.00 price target on shares of Apple in a research note on Wednesday, April 19th. Macquarie set a $160.00 price target on Apple and gave the company a “buy” rating in a research note on Wednesday, April 19th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $150.00 price target on shares of Apple in a research note on Tuesday, April 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $165.00 price target on shares of Apple in a research note on Tuesday, April 25th. Twelve investment analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $167.35.
In other news, insider Luca Maestri sold 4,757 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $154.70, for a total transaction of $735,907.90. Following the completion of the sale, the insider now owns 3,414 shares in the company, valued at approximately $528,145.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Daniel J. Riccio sold 11,949 shares of the stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $155.27, for a total value of $1,855,321.23. Following the sale, the insider now owns 23,998 shares of the company’s stock, valued at approximately $3,726,169.46. The disclosure for this sale can be found here. In the last quarter, insiders have sold 299,911 shares of company stock valued at $46,557,634. Company 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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