Cohen Klingenstein LLC boosted its position in Apple Inc. (NASDAQ:AAPL) by 0.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 77,080 shares of the iPhone maker’s stock after buying an additional 25 shares during the period. Apple accounts for 1.7% of Cohen Klingenstein LLC’s investment portfolio, making the stock its 8th largest position. Cohen Klingenstein LLC’s holdings in Apple were worth $11,101,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the company. Hefty Wealth Partners increased its stake in Apple by 27.6% in the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after buying an additional 174 shares during the period. American Beacon Advisors Inc. purchased a new stake in Apple during the first quarter worth $117,000. State of Alaska Department of Revenue purchased a new stake in Apple during the second quarter worth $149,000. Glacier Peak Capital LLC purchased a new stake in Apple during the fourth quarter worth $127,000. Finally, Portfolio Solutions LLC purchased a new stake in Apple during the first quarter worth $169,000. 61.50% of the stock is owned by institutional investors.
Apple Inc. (NASDAQ:AAPL) traded down 0.23% on Friday, reaching $157.50. 27,428,069 shares of the company were exchanged. The firm has a 50-day moving average of $151.60 and a 200 day moving average of $145.37. Apple Inc. has a 12-month low of $102.53 and a 12-month high of $162.51. The firm 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 released its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.10. Apple had a net margin of 20.87% and a return on equity of 35.40%. The business had revenue of $45.41 billion for the quarter, compared to the consensus estimate of $44.94 billion. During the same period last year, the firm earned $1.42 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. On average, equities analysts predict that Apple Inc. will post $9.02 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were given 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 payout ratio is presently 28.64%.
Apple announced that its Board of Directors has approved a stock buyback plan on Tuesday, May 2nd that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to repurchase up to 6.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
AAPL has been the topic of a number of analyst reports. UBS AG reissued a “buy” rating and set a $151.00 price objective on shares of Apple in a report on Monday, April 24th. Royal Bank Of Canada reissued an “outperform” rating and set a $160.08 price objective (down previously from $176.00) on shares of Apple in a report on Wednesday, August 9th. Longbow Research reissued a “buy” rating and set a $173.00 price objective on shares of Apple in a report on Friday, August 11th. Instinet reaffirmed a “buy” rating and issued a $175.00 target price (up previously from $165.00) on shares of Apple in a report on Wednesday, August 2nd. Finally, KeyCorp reaffirmed an “equal weight” rating on shares of Apple in a report on Friday, August 4th. Eleven research analysts have rated the stock with a hold rating, forty-three have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $167.38.
In other news, Director Arthur D. Levinson sold 35,000 shares of the firm’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 sale, the director now directly owns 1,168,283 shares in the company, valued at approximately $184,098,035.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 6,209 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $161.96, for a total transaction of $1,005,609.64. The disclosure for this sale can be found here. Insiders sold 304,640 shares of company stock worth $47,405,994 over the last quarter. Insiders own 0.08% of the company’s stock.
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.
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