Proficio Capital Partners LLC Purchases 22,393 Shares of Apple Inc. (AAPL)
Proficio Capital Partners LLC boosted its position in Apple Inc. (NASDAQ:AAPL) by 136.5% during the first quarter, Holdings Channel reports. The institutional investor owned 38,801 shares of the iPhone maker’s stock after buying an additional 22,393 shares during the period. Apple makes up about 2.6% of Proficio Capital Partners LLC’s portfolio, making the stock its 3rd largest position. Proficio Capital Partners LLC’s holdings in Apple were worth $5,950,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the company. Achmea Investment Management B.V. bought a new stake in Apple during the first quarter worth approximately $84,453,000. Community Financial Services Group LLC raised its stake in Apple by 4.6% in the first quarter. Community Financial Services Group LLC now owns 31,543 shares of the iPhone maker’s stock worth $4,531,000 after buying an additional 1,395 shares during the period. Sanders Capital LLC raised its stake in Apple by 1.2% in the first quarter. Sanders Capital LLC now owns 8,007,685 shares of the iPhone maker’s stock worth $1,177,522,000 after buying an additional 91,860 shares during the period. American Beacon Advisors Inc. bought a new stake in Apple during the first quarter worth approximately $117,000. Finally, Brighton Jones LLC raised its stake in Apple by 150.8% in the first quarter. Brighton Jones LLC now owns 60,438 shares of the iPhone maker’s stock worth $8,683,000 after buying an additional 36,337 shares during the period. Institutional investors and hedge funds own 61.50% of the company’s stock.
Shares of Apple Inc. (AAPL) traded down 0.06% on Friday, hitting $157.76. 11,626,785 shares of the stock traded hands. The firm has a market cap of $814.87 billion, a P/E ratio of 17.91 and a beta of 1.31. Apple Inc. has a 12-month low of $102.53 and a 12-month high of $162.51. The firm’s 50-day moving average is $151.60 and its 200 day moving average is $145.37.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. During the same quarter in the previous year, the company posted $1.42 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research analysts forecast that Apple Inc. will post $9.02 EPS for the current fiscal year.
Apple announced that its Board of Directors has approved a stock repurchase program on Tuesday, May 2nd that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend was Thursday, August 10th. Apple’s dividend payout ratio (DPR) is 28.64%.
A number of equities research analysts have commented on the company. UBS AG set a $165.00 price target on 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 issued a $160.08 price target (down previously from $176.00) on shares of Apple in a research report on Wednesday, August 9th. KeyCorp reiterated an “equal weight” rating on shares of Apple in a research report on Friday, August 4th. Longbow Research reiterated a “buy” rating and issued a $173.00 price target on shares of Apple in a research report on Friday, August 11th. Finally, Instinet reiterated a “buy” rating and issued a $175.00 price target (up previously from $165.00) on shares of Apple in a research report on Wednesday, August 2nd. Eleven analysts have rated the stock with a hold rating, forty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Apple currently has a consensus rating of “Buy” and an average target price of $167.38.
In related news, Director Arthur D. Levinson sold 35,000 shares of Apple stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $157.58, for a total transaction of $5,515,300.00. Following the sale, the director now directly owns 1,168,283 shares in the company, valued at $184,098,035.14. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Johny Srouji sold 10,000 shares of Apple stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $153.20, for a total transaction of $1,532,000.00. Following the sale, the senior vice president now owns 96,738 shares in the company, valued at $14,820,261.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 294,171 shares of company stock valued at $45,707,922. Corporate insiders own 0.08% of the company’s stock.
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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