Pineno Levin & Ford Asset Management Inc. Acquires 73 Shares of Apple Inc. (AAPL)
Pineno Levin & Ford Asset Management Inc. raised its position in Apple Inc. (NASDAQ:AAPL) by 1.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,618 shares of the iPhone maker’s stock after buying an additional 73 shares during the period. Pineno Levin & Ford Asset Management Inc.’s holdings in Apple were worth $807,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new position in Apple during the fourth quarter valued at $5,625,709,000. Canada Pension Plan Investment Board raised its position in 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. Numeric Investors LLC raised its position in 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. Congress Asset Management Co. MA purchased a new position in Apple during the fourth quarter valued at $75,597,000. Finally, Thrivent Financial for Lutherans raised its position in Apple by 17.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 3,410,059 shares of the iPhone maker’s stock valued at $394,955,000 after buying an additional 506,780 shares during the last quarter. Hedge funds and other institutional investors own 60.43% of the company’s stock.
Apple Inc. (NASDAQ AAPL) traded up 0.28% during mid-day trading on Thursday, reaching $163.81. The company’s stock had a trading volume of 8,595,735 shares. The company has a market cap of $846.12 billion, a price-to-earnings ratio of 18.60 and a beta of 1.31. The stock’s 50 day moving average is $153.93 and its 200 day moving average is $146.76. Apple Inc. has a 12 month low of $102.53 and a 12 month high of $164.10.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.10. Apple had a return on equity of 35.40% and a net margin of 20.87%. 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 company posted $1.42 EPS. The business’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 year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were given a dividend of $0.63 per share. The ex-dividend date was Thursday, August 10th. This represents a $2.52 annualized dividend and a dividend yield of 1.54%. Apple’s payout ratio is 28.64%.
Several equities analysts have weighed in on AAPL shares. Royal Bank Of Canada boosted their target price on shares of Apple from $157.00 to $168.00 and gave the company an “outperform” rating in a report on Monday, May 22nd. Morgan Stanley boosted their price target on shares of Apple from $177.00 to $182.00 and gave the company an “overweight” rating in a research note on Monday, July 17th. Needham & Company LLC reissued a “buy” rating and issued a $175.00 price target (up from $165.00) on shares of Apple in a research note on Wednesday, August 2nd. They noted that the move was a valuation call. Rosenblatt Securities set a $120.00 price target on shares of Apple and gave the company a “hold” rating in a research note on Wednesday, May 3rd. Finally, Bank of America Corporation reissued a “buy” rating and issued a $180.00 price target (up from $175.00) on shares of Apple in a research note on Wednesday, August 2nd. Eleven analysts have rated the stock with a hold rating, forty-four have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $168.59.
In related news, insider Luca Maestri sold 4,757 shares of the company’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $154.70, for a total transaction of $735,907.90. Following the sale, the insider now owns 3,414 shares in the company, valued at approximately $528,145.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Daniel J. Riccio sold 11,949 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 13,049 shares in the company, valued at approximately $2,026,770.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 449,636 shares of company stock worth $71,600,403. 0.08% of the stock is owned by corporate insiders.
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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