Apple Inc. (NASDAQ:AAPL) Stake Decreased by RFG Advisory LLC
RFG Advisory LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 5.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 28,919 shares of the iPhone maker’s stock after selling 1,582 shares during the period. Apple accounts for about 1.1% of RFG Advisory LLC’s portfolio, making the stock its 16th largest position. RFG Advisory LLC’s holdings in Apple were worth $4,562,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of AAPL. First Command Financial Services Inc. increased its position in Apple by 1.8% in the 3rd quarter. First Command Financial Services Inc. now owns 18,133 shares of the iPhone maker’s stock valued at $4,093,000 after buying an additional 314 shares in the last quarter. Sawtooth Solutions LLC increased its position in Apple by 25.1% in the 3rd quarter. Sawtooth Solutions LLC now owns 28,767 shares of the iPhone maker’s stock valued at $6,494,000 after buying an additional 5,775 shares in the last quarter. First National Bank of Hutchinson increased its position in Apple by 119.9% in the 3rd quarter. First National Bank of Hutchinson now owns 9,137 shares of the iPhone maker’s stock valued at $2,063,000 after buying an additional 4,981 shares in the last quarter. W.E. Donoghue & Co. LLC bought a new stake in Apple in the 3rd quarter valued at about $2,627,000. Finally, Hedeker Wealth LLC increased its position in Apple by 6.5% in the 3rd quarter. Hedeker Wealth LLC now owns 38,558 shares of the iPhone maker’s stock valued at $8,704,000 after buying an additional 2,347 shares in the last quarter. 58.61% of the stock is currently owned by institutional investors and hedge funds.
In related news, COO Jeffrey E. Williams sold 56,411 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $210.36, for a total value of $11,866,617.96. Following the transaction, the chief operating officer now owns 151,187 shares in the company, valued at $31,803,697.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Luca Maestri sold 51,138 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $196.61, for a total value of $10,054,242.18. Following the completion of the transaction, the insider now owns 27,448 shares in the company, valued at approximately $5,396,551.28. The disclosure for this sale can be found here. Insiders sold a total of 142,549 shares of company stock worth $29,300,960 in the last 90 days. Company insiders own 0.05% of the company’s stock.
Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, April 30th. The iPhone maker reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.09. Apple had a return on equity of 51.29% and a net margin of 22.12%. The firm had revenue of $58.02 billion for the quarter, compared to the consensus estimate of $57.40 billion. During the same quarter in the previous year, the business earned $2.73 EPS. The company’s revenue was down 5.1% compared to the same quarter last year. On average, analysts forecast that Apple Inc. will post 11.48 EPS for the current fiscal year.
Apple declared that its board has approved a stock repurchase plan on Tuesday, April 30th that permits the company to repurchase $75.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to buy up to 7.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend was Friday, May 10th. This is an increase from Apple’s previous quarterly dividend of $0.73. Apple’s payout ratio is presently 25.86%.
A number of brokerages recently commented on AAPL. Piper Jaffray Companies boosted their target price on Apple from $201.00 to $230.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Sanford C. Bernstein set a $190.00 target price on Apple and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Morgan Stanley boosted their target price on Apple from $234.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Jefferies Financial Group boosted their target price on Apple from $160.00 to $210.00 and gave the company a “hold” rating in a research report on Wednesday, May 1st. Finally, Loop Capital boosted their price objective on Apple to $190.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Three research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. Apple currently has an average rating of “Hold” and a consensus target price of $207.57.
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Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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