Sciencast Management LP bought a new stake in Apple Inc. (NASDAQ:AAPL) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,850 shares of the iPhone maker’s stock, valued at approximately $381,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in AAPL. Capco Asset Management LLC boosted its position in shares of Apple by 0.6% during the 2nd quarter. Capco Asset Management LLC now owns 132,811 shares of the iPhone maker’s stock valued at $26,286,000 after purchasing an additional 772 shares in the last quarter. Econ Financial Services Corp bought a new position in shares of Apple during the 2nd quarter valued at about $390,000. Smith Asset Management Group LP boosted its position in shares of Apple by 2.9% during the 2nd quarter. Smith Asset Management Group LP now owns 546,267 shares of the iPhone maker’s stock valued at $108,117,000 after purchasing an additional 15,340 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Apple by 13.3% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,009,909 shares of the iPhone maker’s stock valued at $199,881,000 after purchasing an additional 118,345 shares in the last quarter. Finally, Capital Financial Planning LLC boosted its position in shares of Apple by 897.7% during the 2nd quarter. Capital Financial Planning LLC now owns 13,279 shares of the iPhone maker’s stock valued at $2,628,000 after purchasing an additional 11,948 shares in the last quarter. Hedge funds and other institutional investors own 58.77% of the company’s stock.
Several research firms have recently weighed in on AAPL. Deutsche Bank set a $210.00 price objective on shares of Apple and gave the company a “hold” rating in a research report on Wednesday, September 4th. DA Davidson raised their price objective on shares of Apple to $270.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Bank of America restated a “buy” rating and set a $250.00 price objective (up previously from $240.00) on shares of Apple in a research report on Wednesday. Monness Crespi & Hardt restated a “buy” rating and set a $265.00 price objective (up previously from $245.00) on shares of Apple in a research report on Wednesday, July 31st. Finally, Longbow Research restated a “hold” rating on shares of Apple in a research report on Tuesday. Four research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. Apple presently has an average rating of “Hold” and an average price target of $218.82.
Shares of NASDAQ AAPL traded up $2.07 during mid-day trading on Thursday, reaching $225.66. The company had a trading volume of 1,294,831 shares, compared to its average volume of 28,887,482. The stock has a fifty day moving average of $207.16 and a two-hundred day moving average of $196.48. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.47 and a current ratio of 1.50. The company has a market capitalization of $967.87 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 1.77 and a beta of 1.24. Apple Inc. has a 12-month low of $142.00 and a 12-month high of $233.47.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.08. The business had revenue of $53.81 billion during the quarter, compared to analyst estimates of $53.39 billion. Apple had a net margin of 21.50% and a return on equity of 52.13%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.34 earnings per share. Sell-side analysts forecast that Apple Inc. will post 11.68 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Friday, August 9th. Apple’s dividend payout ratio (DPR) is 25.86%.
In other news, CEO Timothy D. Cook sold 265,160 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $206.17, for a total value of $54,668,037.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 4,376 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $217.47, for a total transaction of $951,648.72. The disclosure for this sale can be found here. Insiders sold 304,536 shares of company stock valued at $62,894,611 over the last three months. 0.05% of the stock is owned by insiders.
Apple Company Profile
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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