Searle & CO. Sells 50 Shares of Apple Inc. (AAPL)
Searle & CO. reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,812 shares of the iPhone maker’s stock after selling 50 shares during the period. Apple comprises approximately 1.7% of Searle & CO.’s investment portfolio, making the stock its 12th largest position. Searle & CO.’s holdings in Apple were worth $2,415,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the stock. Glenview Capital Management LLC bought a new stake in Apple during the fourth quarter valued at $365,191,000. STA Wealth Management LLC increased its stake in Apple by 3.3% in the fourth quarter. STA Wealth Management LLC now owns 6,940 shares of the iPhone maker’s stock valued at $804,000 after buying an additional 223 shares during the period. Avenir Corp acquired a new stake in Apple during the fourth quarter valued at approximately $9,693,000. Seven Eight Capital LP acquired a new stake in Apple during the fourth quarter valued at approximately $3,787,000. Finally, Glacier Peak Capital LLC acquired a new stake in Apple during the fourth quarter valued at approximately $127,000. Institutional investors and hedge funds own 60.43% of the company’s stock.
Apple Inc. (AAPL) traded down 0.09% during mid-day trading on Tuesday, reaching $161.33. 6,347,633 shares of the company’s stock were exchanged. Apple Inc. has a 52 week low of $102.53 and a 52 week high of $162.51. The company’s 50 day moving average price is $153.93 and its 200-day moving average price is $146.76. The company has a market capitalization of $833.31 billion, a P/E ratio of 18.32 and a beta of 1.31.
Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.10. The business had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. Apple had a return on equity of 35.40% and a net margin of 20.87%. Apple’s revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the company earned $1.42 EPS. On average, equities research analysts expect that Apple Inc. will post $9.02 earnings per share for the current fiscal year.
Apple announced that its Board of Directors has approved a share repurchase program on Tuesday, May 2nd that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the iPhone maker to repurchase up to 6.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were given a $0.63 dividend. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $2.52 annualized dividend and a yield of 1.56%. Apple’s payout ratio is 28.64%.
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AAPL has been the topic of several recent research reports. Oppenheimer Holdings, Inc. reaffirmed a “” rating on shares of Apple in a report on Thursday, August 10th. Nomura set a $165.00 target price on shares of Apple and gave the company a “buy” rating in a research note on Wednesday, May 3rd. BMO Capital Markets reiterated a “buy” rating and issued a $160.00 target price on shares of Apple in a research note on Wednesday, May 3rd. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $164.00 price objective (up from $150.00) on shares of Apple in a research report on Wednesday, May 3rd. Finally, UBS AG set a $165.00 price objective on shares of Apple and gave the stock a “buy” rating in a research report on Wednesday, May 3rd. Eleven research 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 presently has a consensus rating of “Buy” and an average price target of $167.95.
In other news, insider Luca Maestri sold 4,757 shares of Apple stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $154.70, for a total value of $735,907.90. Following the completion of the sale, the insider now directly owns 3,414 shares of the company’s stock, valued at approximately $528,145.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy D. Cook sold 268,623 shares of Apple stock in a transaction on Monday, August 28th. The shares were sold at an average price of $160.63, for a total value of $43,148,912.49. The disclosure for this sale can be found here. In the last quarter, insiders sold 443,744 shares of company stock valued at $70,651,791. Corporate 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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