Daniel Devine & Co Has $7.07 Million Stake in Apple Inc. (AAPL)
Daniel Devine & Co reduced its stake in Apple Inc. (NASDAQ:AAPL) by 2.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,063 shares of the iPhone maker’s stock after selling 1,000 shares during the period. Apple makes up about 5.8% of Daniel Devine & Co’s investment portfolio, making the stock its 4th largest position. Daniel Devine & Co’s holdings in Apple were worth $7,066,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of AAPL. Hefty Wealth Partners boosted 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 during the period. American Beacon Advisors Inc. purchased a new position in Apple during the first quarter worth approximately $117,000. State of Alaska Department of Revenue purchased a new position in Apple during the second quarter worth approximately $149,000. Portfolio Solutions LLC purchased a new position in Apple during the first quarter worth approximately $169,000. Finally, D. Scott Neal Inc. boosted its position in Apple by 19.8% in the second quarter. D. Scott Neal Inc. now owns 1,212 shares of the iPhone maker’s stock worth $175,000 after buying an additional 200 shares during the period. Institutional investors own 60.43% of the company’s stock.
Apple Inc. (NASDAQ AAPL) traded up 0.03% during midday trading on Friday, reaching $164.05. 16,591,051 shares of the company’s stock were exchanged. Apple Inc. has a 1-year low of $102.53 and a 1-year high of $164.94. The stock has a market cap of $847.36 billion, a P/E ratio of 18.63 and a beta of 1.27. The firm’s 50-day moving average is $156.36 and its 200 day moving average is $147.86.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share 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 firm had revenue of $45.41 billion for the quarter, compared to analyst estimates of $44.94 billion. During the same quarter in the previous year, the firm posted $1.42 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. Equities analysts anticipate that Apple Inc. will post $9.02 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date was Thursday, August 10th. Apple’s payout ratio is currently 28.64%.
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A number of research analysts have commented on the company. Royal Bank Of Canada upped their price target on Apple from $176.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday. UBS AG restated a “buy” rating and set a $180.00 price target on shares of Apple in a research note on Tuesday. Cleveland Research upgraded Apple from a “neutral” rating to a “buy” rating and set a $197.00 price target on the stock in a research note on Tuesday. Bank of America Corporation restated a “buy” rating and set a $180.00 price target on shares of Apple in a research note on Thursday, August 24th. Finally, Barclays PLC restated an “equal weight” rating on shares of Apple in a research note on Thursday, August 24th. Eleven investment analysts have rated the stock with a hold rating, forty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $168.67.
In other Apple news, insider Daniel J. Riccio sold 11,949 shares of Apple stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $155.32, for a total value of $1,855,918.68. Following the transaction, the insider now owns 13,049 shares of the company’s stock, valued at $2,026,770.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP D Bruce Sewell sold 31,625 shares of Apple 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 completion of the transaction, the senior vice president now directly owns 112,430 shares in the company, valued at approximately $17,778,555.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 444,879 shares of company stock worth $70,864,495. 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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