Achmea Investment Management B.V. Invests $84.45 Million in Apple Inc. (AAPL)
Achmea Investment Management B.V. purchased a new stake in shares of Apple Inc. (NASDAQ:AAPL) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 587,871 shares of the iPhone maker’s stock, valued at approximately $84,453,000. Apple comprises approximately 3.9% of Achmea Investment Management B.V.’s portfolio, making the stock its largest position.
A number of other hedge funds have also recently bought and sold shares of the stock. American Beacon Advisors Inc. purchased a new stake in Apple during the first quarter valued at $117,000. Glacier Peak Capital LLC bought a new stake in shares of Apple during the fourth quarter worth approximately $127,000. Odey Holdings AG increased its stake in shares of Apple by 27.3% in the fourth quarter. Odey Holdings AG now owns 1,273 shares of the iPhone maker’s stock worth $147,000 after buying an additional 273 shares during the last quarter. Portfolio Solutions LLC bought a new stake in shares of Apple during the first quarter worth approximately $169,000. Finally, Fox Run Management L.L.C. bought a new stake in shares of Apple during the first quarter worth approximately $201,000. Institutional investors and hedge funds own 61.50% of the company’s stock.
Apple Inc. (NASDAQ:AAPL) traded up 0.2445% during trading on Wednesday, reaching $161.9951. 9,039,173 shares of the company’s stock were exchanged. Apple Inc. has a 1-year low of $102.53 and a 1-year high of $162.39. The company’s 50-day moving average is $150.76 and its 200-day moving average is $145.17. The company has a market capitalization of $836.74 billion, a PE ratio of 18.3918 and a beta of 1.31.
Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $44.94 billion. During the same period last year, the business posted $1.42 EPS. Apple’s revenue was up 7.2% compared to the same quarter last year. Equities research analysts expect that Apple Inc. will post $9.02 earnings per share for the current fiscal year.
Apple declared that its board has initiated a share repurchase plan on Tuesday, May 2nd that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Monday, August 14th will be paid a $0.63 dividend. The ex-dividend date is Thursday, August 10th. This represents a $2.52 dividend on an annualized basis and a yield of 1.56%. Apple’s payout ratio is presently 28.64%.
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A number of analysts have recently commented on AAPL shares. Royal Bank Of Canada upped their target price on Apple from $157.00 to $168.00 and gave the stock an “outperform” rating in a research note on Monday, May 22nd. Morgan Stanley upped their target price on Apple from $177.00 to $182.00 and gave the stock an “overweight” rating in a research note on Monday, July 17th. Needham & Company LLC restated a “buy” rating and issued a $175.00 target price (up previously from $165.00) on shares of Apple in a research note on Wednesday, August 2nd. They noted that the move was a valuation call. Rosenblatt Securities set a $120.00 target price on Apple and gave the stock a “hold” rating in a research note on Wednesday, May 3rd. Finally, Canaccord Genuity restated a “buy” rating and issued a $180.00 target price on shares of Apple in a research note on Monday, July 10th. Twelve investment analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $167.33.
In related news, SVP D Bruce Sewell sold 31,625 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $158.13, for a total value of $5,000,861.25. Following the transaction, the senior vice president now directly owns 112,430 shares in the company, valued at approximately $17,778,555.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Craig Federighi sold 63,163 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $158.07, for a total transaction of $9,984,175.41. Following the completion of the transaction, the insider now owns 359,988 shares in the company, valued at $56,903,303.16. The disclosure for this sale can be found here. Insiders sold a total of 287,962 shares of company stock worth $44,702,313 over the last quarter. 0.08% of the stock is currently owned by company 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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