Moloney Securities Asset Management LLC cut its position in Apple Inc. (NASDAQ:AAPL) by 1.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,558 shares of the iPhone maker’s stock after selling 474 shares during the period. Apple accounts for 2.4% of Moloney Securities Asset Management LLC’s holdings, making the stock its 4th largest position. Moloney Securities Asset Management LLC’s holdings in Apple were worth $4,677,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Apple during the fourth quarter valued at $5,625,709,000. Asset Management One Co. Ltd. increased its stake in Apple by 966.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 9,457,769 shares of the iPhone maker’s stock valued at $1,096,072,000 after buying an additional 8,571,027 shares during the period. Glenview Capital Management LLC bought a new stake in Apple during the fourth quarter valued at $365,191,000. Flinton Capital Management LLC bought a new stake in Apple during the fourth quarter valued at $169,077,000. Finally, Tyers Asset Management LLC bought a new stake in Apple during the fourth quarter valued at $139,240,000. 61.50% of the stock is currently owned by institutional investors and hedge funds.
Apple Inc. (AAPL) traded down 0.23% during midday trading on Friday, hitting $157.50. The stock had a trading volume of 27,428,069 shares. Apple Inc. has a 1-year low of $102.53 and a 1-year high of $162.51. The stock has a market capitalization of $813.52 billion, a PE ratio of 17.88 and a beta of 1.31. The stock’s 50-day moving average is $151.99 and its 200-day moving average is $145.63.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. During the same quarter in the prior year, the company posted $1.42 earnings per share. Apple’s revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts anticipate that Apple Inc. will post $9.02 EPS for the current fiscal year.
Apple declared that its Board of Directors has approved a share repurchase 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 reacquire up to 6.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $2.52 annualized dividend and a yield of 1.60%. Apple’s dividend payout ratio (DPR) is currently 28.64%.
AAPL has been the subject of several research reports. UBS AG reiterated a “buy” rating and issued a $170.00 target price on shares of Apple in a report on Monday, July 31st. Bank of America Corporation reiterated a “buy” rating and issued a $180.00 target price (up previously from $155.00) on shares of Apple in a report on Friday, May 12th. Wells Fargo & Company reiterated a “market perform” rating and issued a $140.00 target price on shares of Apple in a report on Saturday, July 22nd. Mizuho restated a “buy” rating and issued a $150.00 price target on shares of Apple in a research note on Wednesday, May 3rd. Finally, KeyCorp restated an “equal weight” rating on shares of Apple in a research note on Friday, August 4th. 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 stock. Apple presently has an average rating of “Buy” and a consensus price target of $167.38.
In other news, 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 owns 96,738 shares of the company’s stock, valued at approximately $14,820,261.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $5,515,300.00. Following the transaction, the director now directly owns 1,168,283 shares in the company, valued at approximately $184,098,035.14. The disclosure for this sale can be found here. Insiders have sold 304,640 shares of company stock valued at $47,405,994 in the last quarter. 0.08% of the stock is currently owned by corporate insiders.
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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