Usca Ria LLC boosted its position in Apple Inc. (NASDAQ:AAPL) by 1.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 43,347 shares of the iPhone maker’s stock after buying an additional 702 shares during the period. Apple comprises 0.9% of Usca Ria LLC’s portfolio, making the stock its 19th largest position. Usca Ria LLC’s holdings in Apple were worth $6,227,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the company. Glacier Peak Capital LLC bought a new stake in shares of Apple during the fourth quarter worth $127,000. Portfolio Solutions LLC bought a new stake in shares of Apple during the first quarter worth $169,000. Fox Run Management L.L.C. bought a new stake in shares of Apple during the first quarter worth $201,000. Salem Capital Management Inc. bought a new stake in shares of Apple during the first quarter worth $226,000. Finally, Grubman Wealth Management bought a new stake in shares of Apple during the first quarter worth $261,000. 61.50% of the stock is currently owned by institutional investors.
Shares of Apple Inc. (NASDAQ:AAPL) traded up 0.37% during midday trading on Friday, reaching $159.86. 25,480,063 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $153.93 and its 200 day moving average price is $146.76. Apple Inc. has a 52-week low of $102.53 and a 52-week 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.
Apple (NASDAQ:AAPL) last announced 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 firm had revenue of $45.41 billion for 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%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.42 EPS. On average, equities research analysts anticipate 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 dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.58%. The ex-dividend date was Thursday, August 10th. Apple’s payout ratio is presently 28.64%.
Apple declared that its Board of Directors has initiated a share repurchase plan on Tuesday, May 2nd that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to purchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
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A number of brokerages have weighed in on AAPL. UBS AG set a $165.00 price target on shares of Apple and gave the company a “buy” rating in a research report on Wednesday, May 3rd. Royal Bank Of Canada reiterated an “outperform” rating and set a $160.08 price target (down from $176.00) on shares of Apple in a research report on Wednesday, August 9th. Longbow Research reiterated a “buy” rating and set a $173.00 price target on shares of Apple in a research report on Friday, August 11th. Instinet reiterated a “buy” rating and set a $175.00 price target (up from $165.00) on shares of Apple in a research report on Wednesday, August 2nd. Finally, KeyCorp reiterated an “equal weight” rating on shares of Apple in a research report on Friday, August 4th. Eleven investment analysts have rated the stock with a hold rating, forty-three have assigned a buy rating and one has issued a strong buy rating to the company. Apple presently has a consensus rating of “Buy” and a consensus price target of $167.73.
In other Apple news, insider Daniel J. Riccio sold 11,949 shares of Apple 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Johny Srouji sold 10,019 shares of Apple stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $153.96, for a total value of $1,542,525.24. Following the transaction, the insider now directly owns 91,291 shares in the company, valued at $14,055,162.36. The disclosure for this sale can be found here. Insiders have sold a total of 185,140 shares of company stock worth $29,045,404 over the last ninety days. Company insiders own 0.08% of the company’s stock.
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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