Apple Inc. (AAPL) Stake Reduced by BB&T Corp
BB&T Corp lowered its stake in Apple Inc. (NASDAQ:AAPL) by 4.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 520,555 shares of the iPhone maker’s stock after selling 26,434 shares during the period. Apple makes up about 1.5% of BB&T Corp’s portfolio, making the stock its 7th largest position. BB&T Corp’s holdings in Apple were worth $74,970,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in AAPL. Norges Bank bought a new position in shares of Apple during the fourth quarter valued at about $5,625,709,000. Canada Pension Plan Investment Board boosted its position in shares of Apple by 23.2% in the first quarter. Canada Pension Plan Investment Board now owns 9,289,482 shares of the iPhone maker’s stock valued at $1,334,527,000 after buying an additional 1,749,797 shares during the last quarter. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Apple during the first quarter valued at about $190,134,000. Numeric Investors LLC boosted its position in shares of Apple by 99.0% in the fourth quarter. Numeric Investors LLC now owns 1,718,307 shares of the iPhone maker’s stock valued at $199,014,000 after buying an additional 854,920 shares during the last quarter. Finally, State of Wisconsin Investment Board boosted its position in shares of Apple by 15.5% in the first quarter. State of Wisconsin Investment Board now owns 5,578,551 shares of the iPhone maker’s stock valued at $801,415,000 after buying an additional 749,158 shares during the last quarter. 60.43% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Apple Inc. (NASDAQ AAPL) traded up 0.474% during mid-day trading on Thursday, hitting $164.125. The stock had a trading volume of 14,461,885 shares. Apple Inc. has a 52-week low of $102.53 and a 52-week high of $164.52. The firm has a market cap of $847.74 billion, a PE ratio of 18.634 and a beta of 1.31. The stock’s 50-day moving average price is $153.93 and its 200-day moving average price is $146.76.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.10. The business had revenue of $45.41 billion for the quarter, compared to analysts’ expectations of $44.94 billion. Apple had a return on equity of 35.40% and a net margin of 20.87%. The business’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.42 EPS. On average, analysts anticipate that Apple Inc. will post $9.02 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $2.52 annualized dividend and a yield of 1.54%. Apple’s payout ratio is 28.64%.
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Several research analysts have recently issued reports on AAPL shares. UBS AG restated a “buy” rating and issued a $170.00 target price on shares of Apple in a report on Monday, July 31st. Bank of America Corporation restated a “buy” rating and issued a $180.00 target price (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 target price on shares of Apple in a report on Saturday, July 22nd. Mizuho restated a “buy” rating and issued a $150.00 target price 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 issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $168.59.
In other news, CEO Timothy D. Cook sold 268,623 shares of Apple stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $160.63, for a total transaction of $43,148,912.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Arthur D. Levinson sold 35,000 shares of Apple stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $157.58, for a total transaction of $5,515,300.00. Following the transaction, the director now owns 1,168,283 shares of the company’s stock, valued at $184,098,035.14. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 449,636 shares of company stock worth $71,600,403. 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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