Northeast Financial Consultants Inc Has $1.91 Million Position in Apple Inc. (AAPL)
Northeast Financial Consultants Inc cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 34.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,319 shares of the iPhone maker’s stock after selling 7,000 shares during the period. Apple accounts for about 0.8% of Northeast Financial Consultants Inc’s portfolio, making the stock its 25th largest position. Northeast Financial Consultants Inc’s holdings in Apple were worth $1,913,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Intellectus Partners LLC bought a new stake in shares of Apple during the fourth quarter valued at about $7,336,000. Moloney Securities Asset Management LLC bought a new stake in shares of Apple during the fourth quarter valued at about $3,826,000. Glassman Wealth Services boosted its stake in shares of Apple by 5.1% in the fourth quarter. Glassman Wealth Services now owns 28,094 shares of the iPhone maker’s stock valued at $3,254,000 after buying an additional 1,353 shares during the last quarter. Odey Holdings AG boosted its stake in shares of Apple by 27.3% in the fourth quarter. Odey Holdings AG now owns 1,273 shares of the iPhone maker’s stock valued at $147,000 after buying an additional 273 shares during the last quarter. Finally, Cheviot Value Management LLC boosted its stake in shares of Apple by 21.9% in the fourth quarter. Cheviot Value Management LLC now owns 38,257 shares of the iPhone maker’s stock valued at $4,431,000 after buying an additional 6,868 shares during the last quarter. Institutional investors and hedge funds own 61.50% of the company’s stock.
Apple Inc. (NASDAQ AAPL) traded up 0.68% during midday trading on Friday, reaching $160.36. 5,601,225 shares of the company’s stock were exchanged. Apple Inc. has a 1-year low of $102.53 and a 1-year high of $162.51. The stock has a market cap of $828.30 billion, a P/E ratio of 18.21 and a beta of 1.31. The firm’s 50-day moving average is $153.45 and its 200 day moving average is $146.55.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, beating the 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 business had revenue of $45.41 billion for the quarter, compared to analysts’ expectations of $44.94 billion. During the same period last year, the business earned $1.42 EPS. The business’s revenue was up 7.2% on a year-over-year basis. Equities analysts anticipate that Apple Inc. will post $9.02 earnings per share for the current fiscal year.
Apple declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 2nd that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to repurchase up to 6.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend was Thursday, August 10th. Apple’s dividend payout ratio (DPR) is presently 28.64%.
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Several analysts have recently issued reports on AAPL shares. Wells Fargo & Company reiterated a “market perform” rating and issued a $140.00 price objective on shares of Apple in a research note on Friday, April 28th. Cowen and Company restated an “outperform” rating and issued a $160.00 price target (up from $155.00) on shares of Apple in a research note on Monday, May 1st. Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of Apple in a research note on Monday, May 1st. Drexel Hamilton restated a “buy” rating and issued a $185.00 price target on shares of Apple in a research note on Tuesday, May 2nd. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $157.00 price target on shares of Apple in a research note on Tuesday, May 2nd. Eleven equities research 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 stock. The company currently has a consensus rating of “Buy” and a consensus target price of $167.73.
In other Apple news, insider Luca Maestri sold 4,757 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 3,414 shares in the company, valued at approximately $528,145.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Arthur D. Levinson sold 35,000 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were 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 $184,098,035.14. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 185,140 shares of company stock worth $29,045,404. Company 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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