Apple Inc. (AAPL) Position Boosted by Strategic Financial Group LLC
Strategic Financial Group LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 17,968 shares of the iPhone maker’s stock after buying an additional 160 shares during the period. Apple accounts for approximately 1.2% of Strategic Financial Group LLC’s investment portfolio, making the stock its 20th largest position. Strategic Financial Group LLC’s holdings in Apple were worth $2,581,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the stock. Saratoga Research & Investment Management boosted its stake in shares of Apple by 0.6% in the first quarter. Saratoga Research & Investment Management now owns 667,132 shares of the iPhone maker’s stock worth $95,840,000 after buying an additional 4,137 shares in the last quarter. Pinnacle Bank acquired a new position in shares of Apple during the first quarter worth $1,924,000. Norges Bank acquired a new position in shares of Apple during the fourth quarter worth $5,625,709,000. Perigon Wealth Management LLC boosted its position in shares of Apple by 5.9% in the fourth quarter. Perigon Wealth Management LLC now owns 147,469 shares of the iPhone maker’s stock worth $20,613,000 after buying an additional 8,233 shares during the period. Finally, IFM Investors Pty Ltd acquired a new position in shares of Apple during the fourth quarter worth $7,910,000. Institutional investors and hedge funds own 60.43% of the company’s stock.
Apple Inc. (NASDAQ:AAPL) traded down 0.05% during trading on Tuesday, hitting $161.39. 6,360,526 shares of the stock were exchanged. The stock’s 50 day moving average is $153.93 and its 200-day moving average is $146.76. Apple Inc. has a one year low of $102.53 and a one year high of $162.51. The company has a market cap of $833.62 billion, a price-to-earnings ratio of 18.32 and a beta of 1.31.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.10. The business had revenue of $45.41 billion for the quarter, compared to analyst estimates of $44.94 billion. Apple had a return on equity of 35.40% and a net margin of 20.87%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.42 earnings per share. On average, equities research analysts expect that Apple Inc. will post $9.02 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were issued a $0.63 dividend. The ex-dividend date was Thursday, August 10th. This represents a $2.52 dividend on an annualized basis and a yield of 1.56%. Apple’s dividend payout ratio is presently 28.64%.
Apple announced that its board has approved a share repurchase plan on Tuesday, May 2nd that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 6.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.
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A number of research analysts recently weighed in on AAPL shares. UBS AG restated a “buy” rating and issued a $170.00 price objective on shares of Apple in a report on Monday, July 31st. Bank of America Corporation restated a “buy” rating and issued a $180.00 price objective (up previously from $155.00) on shares of Apple in a report on Friday, May 12th. Wells Fargo & Company restated a “market perform” rating and issued a $140.00 price objective on shares of Apple in a report on Saturday, July 22nd. Mizuho restated a “buy” rating and issued a $150.00 price objective on shares of Apple in a report on Wednesday, May 3rd. Finally, KeyCorp restated an “equal weight” rating on shares of Apple in a report on Friday, August 4th. Eleven investment analysts have rated the stock with a hold rating, forty-four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $167.95.
In related news, CEO Timothy D. Cook sold 268,623 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $160.63, for a total value of $43,148,912.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Johny Srouji sold 10,469 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $162.20, for a total value of $1,698,071.80. Following the completion of the sale, the senior vice president now owns 76,250 shares of the company’s stock, valued at approximately $12,367,750. The disclosure for this sale can be found here. Insiders sold 443,744 shares of company stock valued at $70,651,791 in the last quarter. 0.08% of the stock is currently owned by corporate 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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