Perigon Wealth Management LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 146,930 shares of the iPhone maker’s stock after selling 539 shares during the period. Apple accounts for about 4.5% of Perigon Wealth Management LLC’s investment portfolio, making the stock its largest position. Perigon Wealth Management LLC’s holdings in Apple were worth $21,108,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Columbia Partners L L C Investment Management boosted its position in shares of Apple by 2.3% in the first quarter. Columbia Partners L L C Investment Management now owns 163,042 shares of the iPhone maker’s stock valued at $23,422,000 after buying an additional 3,588 shares during the last quarter. Watermark Asset Management Inc. acquired a new stake in Apple during the first quarter valued at $728,000. Franklin Parlapiano Turner & Welch LLC acquired a new stake in Apple during the first quarter valued at $698,000. Sowell Financial Services LLC boosted its stake in Apple by 32.2% in the first quarter. Sowell Financial Services LLC now owns 68,543 shares of the iPhone maker’s stock valued at $10,510,000 after buying an additional 16,710 shares during the last quarter. Finally, PHH Investments Ltd. boosted its stake in Apple by 67.7% in the first quarter. PHH Investments Ltd. now owns 10,824 shares of the iPhone maker’s stock valued at $1,583,000 after buying an additional 4,370 shares during the last quarter. Institutional investors and hedge funds own 61.50% of the company’s stock.
Shares of Apple Inc. (NASDAQ AAPL) traded up 1.619% during trading on Tuesday, reaching $159.755. The company had a trading volume of 8,868,658 shares. The firm has a 50 day moving average price of $152.37 and a 200 day moving average price of $146.13. The company has a market cap of $825.17 billion, a price-to-earnings ratio of 18.137 and a beta of 1.31. Apple Inc. has a 12 month low of $102.53 and a 12 month high of $162.51.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.10. The company had revenue of $45.41 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the business earned $1.42 earnings per share. Analysts predict that Apple Inc. will post $9.02 earnings per share for the current year.
Apple declared that its Board of Directors has authorized a share repurchase program on Tuesday, May 2nd that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the iPhone maker to buy up to 6.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.60%. Apple’s dividend payout ratio (DPR) is presently 28.64%.
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AAPL has been the subject of several recent analyst reports. Drexel Hamilton restated a “buy” rating and set a $202.00 target price on shares of Apple in a research note on Thursday, July 6th. Instinet restated a “buy” rating and set a $165.00 target price on shares of Apple in a research note on Wednesday, July 5th. Royal Bank Of Canada restated an “outperform” rating and set a $168.00 target price on shares of Apple in a research note on Tuesday, June 6th. Credit Suisse Group restated an “outperform” rating and set a $170.00 target price on shares of Apple in a research note on Tuesday, July 25th. Finally, Macquarie boosted their target price on Apple from $170.00 to $180.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 2nd. 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. Apple currently has an average rating of “Buy” and an average target price of $167.73.
In related news, SVP Johny Srouji sold 10,469 shares of Apple stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $162.20, for a total transaction of $1,698,071.80. Following the completion of the transaction, the senior vice president now owns 76,250 shares of the company’s stock, valued at $12,367,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Craig Federighi sold 64,500 shares of Apple stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $153.62, for a total transaction of $9,908,490.00. Following the transaction, the insider now directly owns 447,151 shares of the company’s stock, valued at approximately $68,691,336.62. The disclosure for this sale can be found here. In the last quarter, insiders have sold 249,640 shares of company stock worth $38,953,894. 0.08% of the stock is owned by company 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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