American Beacon Advisors Inc. Invests $117,000 in Apple Inc. (AAPL)
American Beacon Advisors Inc. purchased a new stake in Apple Inc. (NASDAQ:AAPL) during the first quarter, Holdings Channel reports. The fund purchased 814 shares of the iPhone maker’s stock, valued at approximately $117,000. Apple accounts for about 1.5% of American Beacon Advisors Inc.’s portfolio, making the stock its 9th largest position.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Saratoga Research & Investment Management boosted its position in Apple by 0.6% in the first quarter. Saratoga Research & Investment Management now owns 667,132 shares of the iPhone maker’s stock valued at $95,840,000 after buying an additional 4,137 shares during the period. Pinnacle Bank purchased a new position in Apple during the first quarter valued at approximately $1,924,000. Green Square Capital LLC boosted its position in Apple by 6.7% in the first quarter. Green Square Capital LLC now owns 87,456 shares of the iPhone maker’s stock valued at $12,564,000 after buying an additional 5,491 shares during the period. Norges Bank purchased a new position in Apple during the fourth quarter valued at approximately $5,625,709,000. Finally, Perigon Wealth Management LLC boosted its position in Apple by 5.9% in the fourth quarter. Perigon Wealth Management LLC now owns 147,469 shares of the iPhone maker’s stock valued at $20,613,000 after buying an additional 8,233 shares during the period. Institutional investors own 61.50% of the company’s stock.
Apple Inc. (NASDAQ AAPL) traded up 0.6525% during midday trading on Tuesday, reaching $160.8931. The company had a trading volume of 7,075,895 shares. Apple Inc. has a 52-week low of $102.53 and a 52-week high of $161.83. The company has a market cap of $831.05 billion, a PE ratio of 18.2667 and a beta of 1.31. The company’s 50-day moving average is $150.31 and its 200 day moving average is $144.88.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, beating the 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 firm had revenue of $45.41 billion during the quarter, compared to analysts’ expectations of $44.94 billion. During the same period in the prior year, the firm posted $1.42 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts forecast that Apple Inc. will post $9.02 EPS for the current year.
Apple declared that its Board of Directors has approved a stock repurchase plan on Tuesday, May 2nd that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the iPhone maker to purchase up to 6.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Monday, August 14th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $2.52 annualized dividend and a yield of 1.58%. Apple’s dividend payout ratio (DPR) is presently 28.64%.
AAPL has been the subject of several analyst reports. UBS AG reiterated a “buy” rating and set a $170.00 price target on shares of Apple in a report on Monday, July 31st. Bank of America Corporation restated a “buy” rating and set a $180.00 price objective (up previously from $155.00) on shares of Apple in a research report on Friday, May 12th. Wells Fargo & Company restated a “market perform” rating and set a $140.00 price objective on shares of Apple in a research report on Saturday, July 22nd. Mizuho restated a “buy” rating and set a $150.00 price objective on shares of Apple in a research report on Wednesday, May 3rd. Finally, KeyCorp restated an “equal weight” rating on shares of Apple in a research report on Friday, August 4th. Thirteen analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. Apple currently has an average rating of “Buy” and an average target price of $167.33.
In related news, insider Daniel J. Riccio sold 11,949 shares of the stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $142.86, for a total transaction of $1,707,034.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Johny Srouji sold 10,000 shares of the stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $153.20, for a total value of $1,532,000.00. Following the transaction, the senior vice president now directly owns 96,738 shares of the company’s stock, valued at $14,820,261.60. The disclosure for this sale can be found here. Insiders have sold 287,962 shares of company stock valued at $44,702,313 over the last three months. Insiders own 0.08% of the company’s stock.
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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