Apple Inc. (AAPL) Shares Bought by Oliver Luxxe Assets LLC
Oliver Luxxe Assets LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,888 shares of the iPhone maker’s stock after buying an additional 1,166 shares during the period. Apple comprises approximately 4.9% of Oliver Luxxe Assets LLC’s portfolio, making the stock its largest position. Oliver Luxxe Assets LLC’s holdings in Apple were worth $7,311,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Fairview Capital Investment Management LLC raised its stake in shares of Apple by 2.7% in the fourth quarter. Fairview Capital Investment Management LLC now owns 13,481 shares of the iPhone maker’s stock valued at $1,561,000 after buying an additional 350 shares in the last quarter. Norges Bank acquired a new position in Apple during the fourth quarter worth approximately $5,625,709,000. Perigon Wealth Management LLC raised its position in Apple by 5.9% in the fourth quarter. Perigon Wealth Management LLC now owns 147,469 shares of the iPhone maker’s stock worth $20,613,000 after buying an additional 8,233 shares in the last quarter. IFM Investors Pty Ltd acquired a new position in Apple during the fourth quarter worth approximately $7,910,000. Finally, RB Capital Management LLC acquired a new position in Apple during the fourth quarter worth approximately $5,793,000. 61.17% of the stock is currently owned by institutional investors and hedge funds.
Shares of Apple Inc. (NASDAQ AAPL) traded up 0.29% on Friday, reaching $156.02. The company had a trading volume of 17,375,326 shares. The stock has a 50-day moving average price of $147.04 and a 200-day moving average price of $142.60. Apple Inc. has a 12 month low of $102.53 and a 12 month high of $157.40. The stock has a market cap of $806.59 billion, a PE ratio of 17.71 and a beta of 1.31.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.10. The company had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.42 earnings per share. Analysts predict that Apple Inc. will post $9.00 earnings per share for the current fiscal year.
The company 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 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Thursday, August 10th. Apple’s dividend payout ratio (DPR) is currently 28.64%.
Apple declared that its Board of Directors has authorized a stock buyback program on Tuesday, May 2nd that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to reacquire up to 6.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.
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A number of research firms have commented on AAPL. KeyCorp reissued an “equal weight” rating on shares of Apple in a research note on Friday. Canaccord Genuity reissued a “buy” rating and issued a $180.00 price objective on shares of Apple in a research note on Thursday. Morgan Stanley reissued an “overweight” rating and issued a $182.00 price objective on shares of Apple in a research note on Thursday. FBN Securities reissued a “buy” rating and issued a $180.00 price objective (up previously from $160.00) on shares of Apple in a research note on Thursday. Finally, Bank of America Corporation restated a “buy” rating and set a $180.00 target price (up previously from $175.00) on shares of Apple in a research report on Wednesday. Twelve equities research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $167.57.
In related news, insider Angela J. Ahrendts sold 25,377 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $154.24, for a total value of $3,914,148.48. Following the sale, the insider now owns 81,936 shares in the company, valued at $12,637,808.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Luca Maestri sold 4,757 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $154.70, for a total transaction of $735,907.90. Following the completion of the sale, the insider now owns 3,414 shares in the company, valued at approximately $528,145.80. The disclosure for this sale can be found here. Insiders have sold 305,500 shares of company stock valued at $46,455,746 in the last three months. 0.08% of the stock is owned by insiders.
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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