J.P. Marvel Investment Advisors LLC Sells 832 Shares of Apple Inc. (AAPL)
J.P. Marvel Investment Advisors LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 1.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,560 shares of the iPhone maker’s stock after selling 832 shares during the period. Apple accounts for 2.5% of J.P. Marvel Investment Advisors LLC’s holdings, making the stock its 15th largest position. J.P. Marvel Investment Advisors LLC’s holdings in Apple were worth $7,551,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Community Financial Services Group LLC increased its position in Apple by 4.6% in the first quarter. Community Financial Services Group LLC now owns 31,543 shares of the iPhone maker’s stock valued at $4,531,000 after buying an additional 1,395 shares during the period. Sanders Capital LLC increased its position in 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 period. American Beacon Advisors Inc. bought a new position in Apple during the first quarter valued at approximately $117,000. Brighton Jones LLC increased its position in 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 period. Finally, Aristotle Capital Management LLC bought a new position in Apple during the first quarter valued at approximately $575,000. 61.50% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Apple Inc. (NASDAQ AAPL) traded up 0.27% during mid-day trading on Wednesday, hitting $162.04. The stock had a trading volume of 9,003,025 shares. The company’s 50 day moving average price is $150.76 and its 200 day moving average price is $145.17. The stock has a market cap of $836.97 billion, a P/E ratio of 18.40 and a beta of 1.31. Apple Inc. has a 12-month low of $102.53 and a 12-month high of $162.39.
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, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $44.94 billion. During the same period in the prior year, the company earned $1.42 EPS. The firm’s revenue was up 7.2% on a year-over-year basis. Equities research analysts predict that Apple Inc. will post $9.02 EPS for the current fiscal year.
Apple announced that its Board of Directors has authorized a share repurchase program on Tuesday, May 2nd that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the iPhone maker to repurchase up to 6.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Monday, August 14th will be given 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 yield of 1.56%. Apple’s dividend payout ratio (DPR) is 28.64%.
Several research firms have recently commented on AAPL. BidaskClub raised Apple from a “hold” rating to a “buy” rating in a research note on Wednesday. Barclays PLC reaffirmed a “hold” rating and issued a $146.00 price objective on shares of Apple in a research note on Tuesday. Vetr downgraded Apple from a “buy” rating to a “hold” rating and set a $164.97 price objective on the stock. in a research note on Tuesday. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Apple in a research note on Monday. Finally, Longbow Research reaffirmed a “buy” rating and issued a $173.00 price objective on shares of Apple in a research note on Friday, August 11th. Twelve equities research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $167.33.
In related news, SVP Johny Srouji sold 10,000 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 96,738 shares of the company’s stock, valued at approximately $14,820,261.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Arthur D. Levinson sold 35,000 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $157.58, for a total transaction of $5,515,300.00. Following the sale, the director now directly 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 287,962 shares of company stock valued at $44,702,313. 0.08% of the stock is owned by corporate insiders.
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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