First National Bank of Omaha Lowers Stake in Apple Inc. (AAPL)
First National Bank of Omaha lowered its stake in Apple Inc. (NASDAQ:AAPL) by 10.6% during the second quarter, Holdings Channel reports. The institutional investor owned 288,834 shares of the iPhone maker’s stock after selling 34,198 shares during the period. Apple makes up 2.6% of First National Bank of Omaha’s portfolio, making the stock its largest position. First National Bank of Omaha’s holdings in Apple were worth $41,263,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in AAPL. Norges Bank purchased a new stake in Apple during the fourth quarter valued at about $5,625,709,000. Franklin Resources Inc. boosted its stake in Apple by 4.8% in the fourth quarter. Franklin Resources Inc. now owns 25,455,705 shares of the iPhone maker’s stock valued at $2,948,422,000 after buying an additional 1,156,639 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Apple by 2.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 17,637,648 shares of the iPhone maker’s stock valued at $2,533,825,000 after buying an additional 471,057 shares in the last quarter. Fisher Asset Management LLC boosted its stake 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 valued at $1,671,972,000 after buying an additional 140,368 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake 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 valued at $1,334,527,000 after buying an additional 1,749,797 shares in the last quarter. 61.50% of the stock is currently owned by institutional investors.
Shares of Apple Inc. (NASDAQ AAPL) traded up 0.8068% during mid-day trading on Friday, hitting $159.1336. The stock had a trading volume of 16,678,847 shares. The firm has a market cap of $821.96 billion, a PE ratio of 18.0669 and a beta of 1.31. The stock has a 50 day moving average price of $151.60 and a 200 day moving average price of $145.37. Apple Inc. has a 52 week low of $102.53 and a 52 week high of $162.51.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.10. Apple had a return on equity of 35.40% and a net margin of 20.87%. The company had revenue of $45.41 billion for the quarter, compared to analyst estimates of $44.94 billion. During the same quarter last year, the company posted $1.42 EPS. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research analysts expect that Apple Inc. will post $9.02 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were paid a $0.63 dividend. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $2.52 annualized dividend and a dividend yield of 1.60%. Apple’s payout ratio is 28.64%.
Apple announced that its Board of Directors has authorized a share repurchase program on Tuesday, May 2nd that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits 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 leadership believes its stock is undervalued.
Several research analysts have recently weighed in on the stock. Drexel Hamilton reiterated a “buy” rating and set a $202.00 price objective on shares of Apple in a report on Thursday, July 6th. Instinet reiterated a “buy” rating and set a $165.00 price objective on shares of Apple in a report on Wednesday, July 5th. Royal Bank Of Canada reiterated an “outperform” rating and set a $168.00 price objective on shares of Apple in a report on Tuesday, June 6th. Credit Suisse Group reiterated an “outperform” rating and set a $170.00 price objective on shares of Apple in a report on Tuesday, July 25th. Finally, Macquarie increased their price objective on shares of Apple from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. Eleven investment analysts have rated the stock with a hold rating, forty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Apple has a consensus rating of “Buy” and a consensus target price of $167.38.
In other news, Director Arthur D. Levinson sold 35,000 shares of Apple stock in a transaction on Monday, August 7th. The stock was sold at an average price of $157.58, for a total value of $5,515,300.00. Following the transaction, the director now owns 1,168,283 shares in the company, valued at approximately $184,098,035.14. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Johny Srouji sold 10,000 shares of Apple 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 owns 96,738 shares in the company, valued at approximately $14,820,261.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 294,171 shares of company stock worth $45,707,922. Corporate insiders own 0.08% of the company’s stock.
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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