Cascade Investment Advisors Inc. lowered its position in Apple Inc. (NASDAQ:AAPL) by 55.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 14,908 shares of the iPhone maker’s stock after selling 18,275 shares during the period. Apple makes up about 1.9% of Cascade Investment Advisors Inc.’s investment portfolio, making the stock its 6th largest position. Cascade Investment Advisors Inc.’s holdings in Apple were worth $2,142,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in Apple during the fourth quarter worth about $5,625,709,000. Fisher Asset Management LLC boosted its position in Apple by 1.2% in the first quarter. Fisher Asset Management LLC now owns 11,638,395 shares of the iPhone maker’s stock worth $1,671,972,000 after buying an additional 140,368 shares during the last quarter. Canada Pension Plan Investment Board boosted 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 worth $1,334,527,000 after buying an additional 1,749,797 shares during the last quarter. AQR Capital Management LLC boosted its position in Apple by 2.5% in the fourth quarter. AQR Capital Management LLC now owns 6,605,140 shares of the iPhone maker’s stock worth $765,008,000 after buying an additional 161,560 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. boosted its position in Apple by 1.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 5,174,924 shares of the iPhone maker’s stock worth $743,409,000 after buying an additional 66,038 shares during the last quarter. Hedge funds and other institutional investors own 61.50% of the company’s stock.
Apple Inc. (NASDAQ:AAPL) traded up 0.37% during mid-day trading on Friday, hitting $159.86. The company had a trading volume of 25,480,063 shares. Apple Inc. has a 12 month low of $102.53 and a 12 month high of $162.51. The firm has a market capitalization of $825.71 billion, a P/E ratio of 18.15 and a beta of 1.31. The company has a 50-day moving average price of $153.93 and a 200 day moving average price of $146.76.
Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, beating the Zacks’ consensus estimate 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 the consensus estimate of $44.94 billion. During the same quarter last year, the firm earned $1.42 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. Equities analysts forecast that Apple Inc. will post $9.02 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were issued a $0.63 dividend. The ex-dividend date was Thursday, August 10th. This represents a $2.52 dividend on an annualized basis and a yield of 1.58%. Apple’s dividend payout ratio (DPR) is presently 28.64%.
Apple announced that its board has approved a stock buyback program on Tuesday, May 2nd that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the iPhone maker to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
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AAPL has been the topic of a number of recent research reports. Drexel Hamilton reiterated a “buy” rating and issued a $202.00 target price on shares of Apple in a report on Thursday, July 6th. Instinet reissued a “buy” rating and issued a $165.00 price target on shares of Apple in a research report on Wednesday, July 5th. Royal Bank Of Canada reissued an “outperform” rating and issued a $168.00 price target on shares of Apple in a research report on Tuesday, June 6th. Credit Suisse Group reissued an “outperform” rating and issued a $170.00 price target on shares of Apple in a research report on Tuesday, July 25th. Finally, Macquarie increased their price target on Apple from $170.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, August 2nd. Eleven investment analysts have rated the stock with a hold rating, forty-three have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $167.73.
In other news, insider Daniel J. Riccio sold 11,949 shares of the firm’s stock in a transaction that occurred on Thursday, July 6th. The shares were sold at an average price of $142.86, for a total transaction of $1,707,034.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 6,209 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $161.96, for a total transaction of $1,005,609.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 185,140 shares of company stock valued at $29,045,404. 0.08% of the stock is currently owned by corporate insiders.
About Apple
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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