Apple Inc. (AAPL) is Glenview State Bank Trust DEPT.’s Largest Position
Glenview State Bank Trust DEPT. cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 76,286 shares of the iPhone maker’s stock after selling 942 shares during the period. Apple makes up approximately 5.6% of Glenview State Bank Trust DEPT.’s investment portfolio, making the stock its largest position. Glenview State Bank Trust DEPT.’s holdings in Apple were worth $10,987,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AAPL. Hefty Wealth Partners increased its position in Apple by 27.6% in the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after buying an additional 174 shares in the last quarter. American Beacon Advisors Inc. purchased a new position in Apple during the first quarter worth approximately $117,000. Glacier Peak Capital LLC purchased a new position in Apple during the fourth quarter worth approximately $127,000. Odey Holdings AG increased its position in 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 in the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in Apple during the second quarter worth approximately $149,000. 61.13% of the stock is currently owned by institutional investors.
Shares of Apple Inc. (NASDAQ AAPL) traded down 1.65% during midday trading on Thursday, reaching $157.79. 17,351,953 shares of the company’s stock traded hands. The company has a 50-day moving average of $149.31 and a 200-day moving average of $143.92. The company has a market capitalization of $815.02 billion, a price-to-earnings ratio of 17.91 and a beta of 1.31. Apple Inc. has a one year low of $102.53 and a one year high of $161.83. Apple also saw unusually large options trading activity on Tuesday. Traders bought 139,415 put options on the stock. This is an increase of 119% compared to the average daily volume of 63,733 put options.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, topping the consensus estimate of $1.57 by $0.10. The company had revenue of $45.41 billion during 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 quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.42 earnings per share. Equities research analysts anticipate that Apple Inc. will post $9.02 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Monday, August 14th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Thursday, August 10th. Apple’s payout ratio is 28.64%.
Apple declared that its board has approved a stock 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 repurchase 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.
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AAPL has been the topic of a number of research analyst reports. Oppenheimer Holdings, Inc. reaffirmed a “” rating on shares of Apple in a report on Thursday. Guggenheim reaffirmed a “buy” rating and set a $180.00 target price on shares of Apple in a report on Wednesday, April 19th. Macquarie set a $160.00 target price on Apple and gave the stock a “buy” rating in a report on Wednesday, April 19th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $150.00 target price on shares of Apple in a report on Tuesday, April 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $165.00 target price on shares of Apple in a report on Tuesday, April 25th. Thirteen investment 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. The company presently has an average rating of “Buy” and an average price target of $167.32.
In other Apple news, insider Daniel J. Riccio sold 11,949 shares of Apple stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $142.86, for a total transaction of $1,707,034.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Johny Srouji sold 10,000 shares of Apple stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $153.20, for a total transaction 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 299,911 shares of company stock valued at $46,557,634 over the last ninety days. 0.08% of the stock is owned by 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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