Apple Inc. (AAPL) is Community Trust & Investment Co.’s 7th Largest Position
Community Trust & Investment Co. reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.2% during the first quarter, Holdings Channel reports. The institutional investor owned 162,892 shares of the iPhone maker’s stock after selling 1,956 shares during the period. Apple accounts for about 2.7% of Community Trust & Investment Co.’s portfolio, making the stock its 7th largest position. Community Trust & Investment Co.’s holdings in Apple were worth $23,401,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. American Beacon Advisors Inc. purchased a new stake in Apple during the first quarter valued at $117,000. Glacier Peak Capital LLC purchased a new stake in Apple during the fourth quarter valued at $127,000. Odey Holdings AG boosted its stake in Apple by 27.3% in the fourth quarter. Odey Holdings AG now owns 1,273 shares of the iPhone maker’s stock valued at $147,000 after buying an additional 273 shares during the period. Portfolio Solutions LLC purchased a new stake in Apple during the first quarter valued at $169,000. Finally, Fox Run Management L.L.C. purchased a new stake in Apple during the first quarter valued at $201,000. Hedge funds and other institutional investors own 61.50% of the company’s stock.
Apple Inc. (NASDAQ:AAPL) traded up 0.29% during mid-day trading on Wednesday, hitting $162.07. The company’s stock had a trading volume of 8,983,444 shares. The company has a market cap of $837.13 billion, a P/E ratio of 18.40 and a beta of 1.31. Apple Inc. has a 12-month low of $102.53 and a 12-month high of $162.39. The firm’s 50-day moving average is $150.76 and its 200-day moving average is $145.17.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data 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 analyst estimates of $44.94 billion. During the same quarter in the prior year, the business posted $1.42 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. Analysts predict that Apple Inc. will post $9.02 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Monday, August 14th will be issued a dividend of $0.63 per share. The ex-dividend date is Thursday, August 10th. This represents a $2.52 annualized dividend and a dividend yield of 1.56%. Apple’s dividend payout ratio is presently 28.64%.
Apple declared that its Board of Directors has initiated a share buyback program on Tuesday, May 2nd that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the iPhone maker to reacquire up to 6.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
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AAPL has been the topic of several research reports. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $150.00 price target on shares of Apple in a report on Tuesday, April 18th. Macquarie restated an “outperform” rating and set a $156.00 price target on shares of Apple in a report on Tuesday, April 18th. Guggenheim restated a “buy” rating and set a $180.00 price target on shares of Apple in a report on Wednesday, April 19th. Stifel Nicolaus boosted their price target on Apple from $130.00 to $150.00 and gave the stock a “hold” rating in a report on Thursday, April 20th. Finally, Zacks Investment Research cut Apple from a “buy” rating to a “hold” rating in a report on Monday, April 24th. Twelve analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $167.33.
In related news, insider Luca Maestri sold 4,757 shares of the firm’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $154.70, for a total value of $735,907.90. Following the completion of the transaction, the insider now owns 3,414 shares in the company, valued at approximately $528,145.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eduardo H. Cue sold 45,000 shares of the firm’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $153.78, for a total value of $6,920,100.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 287,962 shares of company stock valued at $44,702,313. Company insiders own 0.08% of the company’s stock.
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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