Apple Inc. (AAPL) Shares Sold by Cambridge Trust Co.
Cambridge Trust Co. reduced its stake in Apple Inc. (NASDAQ:AAPL) by 0.7% during the first quarter, Holdings Channel reports. The fund owned 251,217 shares of the iPhone maker’s stock after selling 1,784 shares during the period. Apple comprises 2.4% of Cambridge Trust Co.’s portfolio, making the stock its 8th largest position. Cambridge Trust Co.’s holdings in Apple were worth $36,090,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sanders Capital LLC boosted its position in shares of Apple by 1.2% in the first quarter. Sanders Capital LLC now owns 8,007,685 shares of the iPhone maker’s stock valued at $1,177,522,000 after buying an additional 91,860 shares during the last quarter. American Beacon Advisors Inc. purchased a new position in shares of Apple during the first quarter valued at about $117,000. Brighton Jones LLC boosted its position in shares of Apple by 150.8% in the first quarter. Brighton Jones LLC now owns 60,438 shares of the iPhone maker’s stock valued at $8,683,000 after buying an additional 36,337 shares during the last quarter. Aristotle Capital Management LLC purchased a new position in shares of Apple during the first quarter valued at about $575,000. Finally, Meridian Wealth Management LLC boosted its position in shares of Apple by 26.3% in the first quarter. Meridian Wealth Management LLC now owns 16,168 shares of the iPhone maker’s stock valued at $2,323,000 after buying an additional 3,363 shares during the last quarter. 61.50% of the stock is currently owned by institutional investors and hedge funds.
Apple Inc. (NASDAQ:AAPL) traded up 0.8299% during midday trading on Tuesday, reaching $161.1766. The company had a trading volume of 8,356,526 shares. The company has a market capitalization of $832.51 billion, a P/E ratio of 18.2989 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 Inc. has a 52-week low of $102.53 and a 52-week high of $161.83.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, beating the Zacks’ consensus estimate 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 quarter last year, the business earned $1.42 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities 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 will be paid on Thursday, August 17th. Investors of record on Monday, August 14th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.58%. Apple’s dividend payout ratio is presently 28.64%.
Apple announced that its Board of Directors has authorized a share buyback program on Tuesday, May 2nd that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the iPhone maker to purchase up to 6.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.
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A number of research firms have recently weighed in on AAPL. Vetr cut Apple from a “buy” rating to a “hold” rating and set a $164.97 price objective on the stock. in a research report on Tuesday. Sanford C. Bernstein set a $175.00 price objective on Apple and gave the company a “buy” rating in a research report on Monday. Longbow Research reaffirmed a “buy” rating and set a $173.00 price objective on shares of Apple in a research report on Friday. Oppenheimer Holdings, Inc. reaffirmed a “” rating on shares of Apple in a research report on Thursday, August 10th. Finally, Drexel Hamilton reaffirmed a “buy” rating and set a $208.00 price objective on shares of Apple in a research report on Wednesday, August 9th. Thirteen equities research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $167.33.
In related news, SVP D Bruce Sewell sold 31,625 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $158.13, for a total transaction of $5,000,861.25. Following the transaction, the senior vice president now owns 112,430 shares in the company, valued at $17,778,555.90. 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 the firm’s stock in a transaction that occurred on Monday, May 22nd. The shares were 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 owns 96,738 shares in the company, valued at approximately $14,820,261.60. The disclosure for this sale can be found here. Insiders have sold 287,962 shares of company stock worth $44,702,313 in the last quarter. Company 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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