Beacon Financial Group reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,522 shares of the iPhone maker’s stock after selling 245 shares during the period. Beacon Financial Group’s holdings in Apple were worth $4,681,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of AAPL. Bailard Inc. increased its position in Apple by 23.2% in the third quarter. Bailard Inc. now owns 181,502 shares of the iPhone maker’s stock worth $20,519,000 after buying an additional 34,162 shares during the period. Stanford Investment Group Inc. increased its position in Apple by 25.9% in the fourth quarter. Stanford Investment Group Inc. now owns 98,014 shares of the iPhone maker’s stock worth $11,352,000 after buying an additional 20,176 shares during the period. Fairview Capital Investment Management LLC increased its position in Apple by 2.7% in the fourth quarter. Fairview Capital Investment Management LLC now owns 13,481 shares of the iPhone maker’s stock worth $1,561,000 after buying an additional 350 shares during the period. Norges Bank bought a new position in Apple during the fourth quarter worth approximately $5,625,709,000. Finally, IFM Investors Pty Ltd bought a new position in Apple during the fourth quarter worth approximately $7,910,000. 58.76% of the stock is owned by institutional investors and hedge funds.
Shares of Apple Inc. (NASDAQ:AAPL) opened at 153.61 on Friday. The company’s 50-day moving average price is $147.91 and its 200-day moving average price is $130.91. Apple Inc. has a one year low of $91.50 and a one year high of $156.65. The stock has a market cap of $800.90 billion, a PE ratio of 18.02 and a beta of 1.26.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.08. Apple had a return on equity of 34.94% and a net margin of 20.73%. The business had revenue of $52.90 billion during the quarter, compared to analyst estimates of $52.61 billion. Equities research analysts anticipate that Apple Inc. will post $8.93 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, May 18th. Shareholders of record on Monday, May 15th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.64%. The ex-dividend date was Thursday, May 11th. This is a positive change from Apple’s previous quarterly dividend of $0.57. Apple’s payout ratio is currently 27.31%.
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AAPL has been the subject of a number of analyst reports. UBS Group AG boosted their price target on Apple from $165.00 to $200.00 in a research note on Sunday, April 2nd. Bank of America Corp reaffirmed a “buy” rating and issued a $180.00 price target (up previously from $155.00) on shares of Apple in a research note on Friday, May 12th. Cowen and Company reaffirmed an “outperform” rating and issued a $155.00 price target (up previously from $135.00) on shares of Apple in a research note on Thursday, March 16th. Mizuho reaffirmed a “buy” rating and issued a $150.00 price target on shares of Apple in a research note on Wednesday, May 3rd. Finally, Goldman Sachs Group Inc set a $170.00 price target on Apple and gave the company a “buy” rating in a research note on Saturday, May 20th. Eight equities research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $158.55.
In other Apple news, insider Philip W. Schiller sold 47,796 shares of the business’s stock in a transaction dated Tuesday, April 4th. The stock was sold at an average price of $143.32, for a total transaction of $6,850,122.72. Following the completion of the sale, the insider now owns 94,010 shares of the company’s stock, valued at $13,473,513.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Luca Maestri sold 20,307 shares of the business’s stock in a transaction dated Wednesday, April 5th. The shares were sold at an average price of $145.05, for a total value of $2,945,530.35. Following the sale, the insider now directly owns 14,390 shares of the company’s stock, valued at approximately $2,087,269.50. The disclosure for this sale can be found here. Insiders have sold 420,686 shares of company stock valued at $63,066,393 in the last three months. 0.08% of the stock is currently owned by corporate insiders.
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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