Aveo Capital Partners LLC raised its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,646 shares of the iPhone maker’s stock after purchasing an additional 194 shares during the quarter. Aveo Capital Partners LLC’s holdings in Apple were worth $957,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Benedict Financial Advisors Inc. boosted its position in Apple by 0.9% during the 1st quarter. Benedict Financial Advisors Inc. now owns 38,906 shares of the iPhone maker’s stock valued at $5,589,000 after purchasing an additional 328 shares during the period. iAB Financial Bank boosted its position in Apple by 1.8% during the 1st quarter. iAB Financial Bank now owns 56,947 shares of the iPhone maker’s stock valued at $8,184,000 after purchasing an additional 995 shares during the period. Seatown Holdings Pte. Ltd. acquired a new position in Apple during the 1st quarter valued at approximately $26,843,000. Sumitomo Mitsui Asset Management Company LTD boosted its position in Apple by 1.2% during the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 559,788 shares of the iPhone maker’s stock valued at $80,419,000 after purchasing an additional 6,777 shares during the period. Finally, Saratoga Research & Investment Management raised its stake in Apple by 0.6% during the 1st quarter. Saratoga Research & Investment Management now owns 667,132 shares of the iPhone maker’s stock valued at $95,840,000 after acquiring an additional 4,137 shares in the last quarter. Hedge funds and other institutional investors own 59.87% of the company’s stock.
In other news, insider Angela J. Ahrendts sold 63,388 shares of the firm’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $154.21, for a total value of $9,775,063.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Johny Srouji sold 5,892 shares of the firm’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $161.00, for a total transaction of $948,612.00. Following the completion of the sale, the insider now owns 70,358 shares in the company, valued at $11,327,638. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 410,352 shares of company stock worth $65,356,512. 0.08% of the stock is owned by company insiders.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.20. The firm had revenue of $52.58 billion for the quarter, compared to analysts’ expectations of $50.71 billion. Apple had a net margin of 21.09% and a return on equity of 36.29%. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.50 earnings per share. research analysts predict that Apple Inc. will post 11.18 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, November 13th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.46%. The ex-dividend date was Friday, November 10th. Apple’s payout ratio is 27.42%.
A number of brokerages recently issued reports on AAPL. Needham & Company LLC restated a “buy” rating and issued a $175.00 target price (up from $165.00) on shares of Apple in a report on Wednesday, August 2nd. They noted that the move was a valuation call. Cleveland Research upgraded Apple from a “neutral” rating to a “buy” rating and set a $197.00 target price on the stock in a report on Tuesday, August 29th. Bank of America Corporation restated a “buy” rating and issued a $180.00 target price (up from $175.00) on shares of Apple in a report on Wednesday, August 2nd. UBS AG restated a “buy” rating and issued a $170.00 target price on shares of Apple in a report on Monday, July 31st. Finally, Drexel Hamilton restated a “buy” rating and issued a $208.00 target price on shares of Apple in a report on Tuesday, October 24th. Seven analysts have rated the stock with a hold rating and forty-six have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $200.24.
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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