Seminole Management Co. Inc. Acquires New Stake in Apple Inc. (AAPL)
Seminole Management Co. Inc. acquired a new stake in Apple Inc. (NASDAQ:AAPL) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 171,687 shares of the iPhone maker’s stock, valued at approximately $24,665,000. Apple accounts for about 4.5% of Seminole Management Co. Inc.’s portfolio, making the stock its 7th largest position.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ancora Advisors LLC boosted its position in Apple by 107.0% in the fourth quarter. Ancora Advisors LLC now owns 144,925 shares of the iPhone maker’s stock valued at $16,785,000 after buying an additional 74,901 shares during the last quarter. Glacier Peak Capital LLC bought a new stake in Apple during the fourth quarter valued at about $127,000. Seven Eight Capital LP bought a new stake in Apple during the fourth quarter valued at about $3,787,000. Avenir Corp bought a new stake in Apple during the fourth quarter valued at about $9,693,000. Finally, STA Wealth Management LLC raised its stake in Apple by 3.3% in the fourth quarter. STA Wealth Management LLC now owns 6,940 shares of the iPhone maker’s stock valued at $804,000 after buying an additional 223 shares during the period. Hedge funds and other institutional investors own 61.50% of the company’s stock.
Apple Inc. (NASDAQ AAPL) traded up 0.37% during trading on Friday, hitting $159.86. The stock had a trading volume of 25,480,063 shares. The firm has a market cap of $825.71 billion, a PE ratio of 18.15 and a beta of 1.31. The company’s 50 day moving average is $153.93 and its 200 day moving average is $146.76. Apple Inc. has a 52-week low of $102.53 and a 52-week high of $162.51.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.10. The company had revenue of $45.41 billion for the quarter, compared to analyst estimates of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. Apple’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.42 earnings per share. Equities research analysts forecast that Apple Inc. will post $9.02 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Shareholders 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 dividend on an annualized basis and a yield of 1.58%. Apple’s dividend payout ratio is presently 28.64%.
Apple declared that its board has approved 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 repurchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
TRADEMARK VIOLATION WARNING: This piece was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece on another domain, it was stolen and reposted in violation of US and international copyright and trademark law. The original version of this piece can be accessed at https://www.thecerbatgem.com/2017/08/26/seminole-management-co-inc-acquires-new-stake-in-apple-inc-aapl.html.
Several analysts have recently issued reports on the company. Barclays PLC reissued a “hold” rating and set a $146.00 target price on shares of Apple in a report on Tuesday, August 15th. BidaskClub raised Apple from a “hold” rating to a “buy” rating in a report on Wednesday, August 16th. Drexel Hamilton reissued a “buy” rating and set a $208.00 target price on shares of Apple in a report on Wednesday, August 9th. Oppenheimer Holdings, Inc. reissued a “” rating on shares of Apple in a report on Thursday, August 10th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $150.00 target price (up from $120.00) on shares of Apple in a report on Tuesday, August 8th. Eleven research analysts have rated the stock with a hold rating, forty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $167.73.
In other Apple news, SVP Johny Srouji sold 10,469 shares of Apple stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $162.20, for a total value of $1,698,071.80. Following the transaction, the senior vice president now directly owns 76,250 shares in the company, valued at $12,367,750. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP D Bruce Sewell sold 31,625 shares of Apple stock in a transaction on Monday, August 7th. The shares were sold at an average price of $158.13, for a total transaction of $5,000,861.25. Following the completion of the transaction, the senior vice president now owns 112,430 shares in the company, valued at $17,778,555.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 185,140 shares of company stock worth $29,045,404. 0.08% of the stock is currently owned by company insiders.
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.
Receive News & Stock Ratings for Apple Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Inc. and related stocks with our FREE daily email newsletter.