Lourd Capital LLC Boosts Position in Apple Inc. (AAPL)
Lourd Capital LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 4.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 34,297 shares of the iPhone maker’s stock after buying an additional 1,366 shares during the quarter. Apple accounts for about 0.5% of Lourd Capital LLC’s portfolio, making the stock its 11th biggest holding. Lourd Capital LLC’s holdings in Apple were worth $4,939,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the stock. Starfire Investment Advisers Inc. acquired a new position in Apple during the first quarter valued at approximately $508,000. Fox Run Management L.L.C. acquired a new position in Apple during the first quarter valued at approximately $201,000. Harvest Capital Management Inc boosted its position in Apple by 2.1% during the first quarter. Harvest Capital Management Inc now owns 6,612 shares of the iPhone maker’s stock valued at $950,000 after purchasing an additional 135 shares during the last quarter. Iowa State Bank boosted its position in Apple by 7.2% during the first quarter. Iowa State Bank now owns 44,586 shares of the iPhone maker’s stock valued at $6,405,000 after purchasing an additional 2,993 shares during the last quarter. Finally, Torch Wealth Management LLC boosted its position in Apple by 1.2% during the first quarter. Torch Wealth Management LLC now owns 47,484 shares of the iPhone maker’s stock valued at $6,822,000 after purchasing an additional 571 shares during the last quarter. Institutional investors and hedge funds own 60.33% of the company’s stock.
In related news, CEO Timothy D. Cook sold 268,623 shares of the firm’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Angela J. Ahrendts sold 63,388 shares of the firm’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $154.21, for a total transaction of $9,775,063.48. The disclosure for this sale can be found here. Insiders have sold 541,177 shares of company stock valued at $85,864,804 in the last ninety days. Insiders own 0.08% of the company’s stock.
Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.20. Apple had a net margin of 20.87% and a return on equity of 35.40%. The business had revenue of $52.58 billion during the quarter, compared to the consensus estimate of $50.71 billion. During the same quarter last year, the firm earned $1.50 earnings per share. The business’s revenue for the quarter was up 12.2% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Monday, November 13th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.50%. Apple’s dividend payout ratio is 28.64%.
AAPL has been the subject of several recent research reports. Oppenheimer Holdings, Inc. reissued a “” rating on shares of Apple in a research report on Thursday, August 10th. J P Morgan Chase & Co set a $165.00 price target on Apple and gave the company a “buy” rating in a research report on Wednesday, July 19th. Vetr cut Apple from a “strong-buy” rating to a “buy” rating and set a $165.66 price target for the company. in a research report on Tuesday, July 18th. Canaccord Genuity reissued a “buy” rating and set a $180.00 price target on shares of Apple in a research report on Monday, July 10th. Finally, Credit Suisse Group reissued a “buy” rating and set a $170.00 price target on shares of Apple in a research report on Sunday, July 9th. Eight analysts have rated the stock with a hold rating and forty-five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $193.36.
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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