Clean Yield Group lowered its position in Apple Inc. (NASDAQ:AAPL) by 2.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,895 shares of the iPhone maker’s stock after selling 1,816 shares during the period. Apple accounts for about 4.5% of Clean Yield Group’s investment portfolio, making the stock its largest position. Clean Yield Group’s holdings in Apple were worth $10,862,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of AAPL. 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 last quarter. American Beacon Advisors Inc. acquired a new position in shares of Apple during the first quarter valued at $117,000. Glacier Peak Capital LLC acquired a new position in shares of Apple during the fourth quarter valued at $127,000. Welch Investments LLC acquired a new position in shares of Apple during the fourth quarter valued at $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 last quarter. Hedge funds and other institutional investors own 61.50% of the company’s stock.
Shares of Apple Inc. (NASDAQ:AAPL) traded up 1.09% on Tuesday, hitting $161.60. The stock had a trading volume of 29,465,487 shares. Apple Inc. has a 1-year low of $102.53 and a 1-year high of $162.20. The firm has a 50-day moving average of $150.76 and a 200 day moving average of $145.17. The company has a market capitalization of $834.70 billion, a PE ratio of 18.35 and a beta of 1.31.
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 net margin of 20.87% and a return on equity of 35.40%. The firm had revenue of $45.41 billion during the quarter, compared to analyst estimates of $44.94 billion. During the same period in the previous year, the business earned $1.42 EPS. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities analysts anticipate that Apple Inc. will post $9.02 earnings per share for the current fiscal year.
Apple declared that its Board of Directors has initiated a stock repurchase program on Tuesday, May 2nd that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the iPhone maker to purchase up to 6.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Monday, August 14th will be given a $0.63 dividend. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $2.52 annualized dividend and a yield of 1.56%. Apple’s dividend payout ratio (DPR) is presently 28.64%.
A number of equities research analysts recently commented on the stock. UBS AG reaffirmed a “buy” rating and issued a $151.00 price target on shares of Apple in a report on Monday, April 24th. FBN Securities reaffirmed a “buy” rating and issued a $180.00 price target (up previously from $160.00) on shares of Apple in a report on Thursday, August 3rd. KeyCorp reaffirmed an “equal weight” rating on shares of Apple in a report on Friday, August 4th. Canaccord Genuity reiterated a “buy” rating and issued a $180.00 price objective on shares of Apple in a research note on Thursday, August 3rd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $160.08 price objective (down from $176.00) on shares of Apple in a research note on Wednesday, August 9th. Thirteen investment 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’s stock. The company presently has an average rating of “Buy” and a consensus target price of $167.33.
In related news, SVP Johny Srouji sold 10,000 shares of the company’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $153.20, for a total value of $1,532,000.00. Following the completion of the transaction, the senior vice president now directly owns 96,738 shares in the company, valued at $14,820,261.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel J. Riccio sold 11,949 shares of the company’s stock in a transaction on 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. Insiders sold 287,962 shares of company stock valued at $44,702,313 over the last quarter. 0.08% of the stock is owned by company 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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