Norway Savings Bank lowered its position in Apple Inc. (NASDAQ:AAPL) by 4.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,260 shares of the iPhone maker’s stock after selling 920 shares during the period. Apple comprises 3.0% of Norway Savings Bank’s portfolio, making the stock its 5th largest position. Norway Savings Bank’s holdings in Apple were worth $3,062,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the company. Hefty Wealth Partners boosted its position in shares of Apple by 27.6% in the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock valued at $115,000 after buying an additional 174 shares during the period. American Beacon Advisors Inc. bought a new position in shares of Apple during the first quarter valued at about $117,000. Glacier Peak Capital LLC bought a new position in shares of Apple during the fourth quarter valued at about $127,000. Welch Investments LLC bought a new position in shares of Apple during the fourth quarter valued at about $146,000. Finally, Odey Holdings AG boosted its position in shares of Apple by 27.3% in the fourth quarter. Odey Holdings AG now owns 1,273 shares of the iPhone maker’s stock valued at $147,000 after buying an additional 273 shares during the period. Institutional investors and hedge funds own 61.13% of the company’s stock.
Shares of Apple Inc. (NASDAQ AAPL) opened at 158.81 on Tuesday. Apple Inc. has a 12 month low of $102.53 and a 12 month high of $158.92. The firm has a market capitalization of $821.01 billion, a price-to-earnings ratio of 18.03 and a beta of 1.31. The stock’s 50 day moving average is $147.04 and its 200 day moving average is $142.60.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 EPS 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 business had revenue of $45.41 billion for the quarter, compared to analyst estimates of $44.94 billion. During the same period last year, the firm earned $1.42 earnings per share. Apple’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research analysts forecast that Apple Inc. will post $9.00 earnings per share for the current fiscal year.
Apple declared that its board has approved a stock repurchase plan on Tuesday, May 2nd that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to purchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership 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. This represents a $2.52 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Thursday, August 10th. Apple’s dividend payout ratio is 28.64%.
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Several equities analysts recently issued reports on AAPL shares. UBS AG restated a “buy” rating and issued a $170.00 price target on shares of Apple in a research report on Monday, July 31st. Bank of America Corporation restated a “buy” rating and issued a $180.00 price target (up previously from $155.00) on shares of Apple in a research report on Friday, May 12th. Wells Fargo & Company restated a “market perform” rating and issued a $140.00 price target on shares of Apple in a research report on Saturday, July 22nd. Mizuho restated a “buy” rating and issued a $150.00 price target on shares of Apple in a research report on Wednesday, May 3rd. Finally, Goldman Sachs Group, Inc. (The) set a $170.00 price target on Apple and gave the company a “buy” rating in a research report on Saturday, May 20th. Thirteen analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the company. Apple currently has a consensus rating of “Buy” and a consensus target price of $167.54.
In related news, insider Luca Maestri sold 4,757 shares of the firm’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $154.70, for a total transaction of $735,907.90. Following the transaction, the insider now directly owns 3,414 shares of the company’s stock, valued at $528,145.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Daniel J. Riccio sold 11,949 shares of the firm’s stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $142.86, for a total transaction of $1,707,034.14. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 195,500 shares of company stock worth $29,971,446. 0.08% of the stock is owned by 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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