Apple Inc. (AAPL) Stake Increased by Willingdon Wealth Management
Willingdon Wealth Management raised its stake in Apple Inc. (NASDAQ:AAPL) by 2.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,098 shares of the iPhone maker’s stock after buying an additional 530 shares during the period. Apple comprises about 1.5% of Willingdon Wealth Management’s investment portfolio, making the stock its 13th largest position. Willingdon Wealth Management’s holdings in Apple were worth $3,606,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of AAPL. Glacier Peak Capital LLC acquired a new stake in Apple during the fourth quarter valued at $127,000. Portfolio Solutions LLC purchased a new position in Apple during the first quarter valued at approximately $169,000. Fox Run Management L.L.C. purchased a new position in Apple during the first quarter valued at approximately $201,000. Salem Capital Management Inc. purchased a new position in Apple during the first quarter valued at approximately $226,000. Finally, Access Financial Services Inc. purchased a new position in Apple during the fourth quarter valued at approximately $261,000. Hedge funds and other institutional investors own 60.43% of the company’s stock.
Apple Inc. (NASDAQ:AAPL) traded up 0.79% on Monday, reaching $161.12. The company’s stock had a trading volume of 7,057,656 shares. 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 $153.93 and its 200-day moving average is $146.76. The firm has a market cap of $832.22 billion, a P/E ratio of 18.29 and a beta of 1.31.
Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, beating the Zacks’ 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 analysts’ expectations of $44.94 billion. During the same quarter in the prior year, the company earned $1.42 EPS. The firm’s revenue was up 7.2% on a year-over-year basis. On average, equities research analysts anticipate that Apple Inc. will post $9.02 EPS for the current year.
The firm also recently disclosed 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 was Thursday, August 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.58%. Apple’s dividend payout ratio (DPR) is 28.64%.
Apple announced that its Board of Directors has authorized a stock buyback plan on Tuesday, May 2nd that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the iPhone maker to buy up to 6.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
Several research analysts have commented on the company. UBS AG set a $165.00 price target on Apple and gave the stock a “buy” rating in a research report on Wednesday, May 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $160.08 price target (down previously from $176.00) on shares of Apple in a research report on Wednesday, August 9th. Longbow Research reaffirmed a “buy” rating and set a $173.00 price target on shares of Apple in a research report on Friday, August 11th. Instinet reaffirmed a “buy” rating and set a $175.00 price target (up previously from $165.00) on shares of Apple in a research report on Wednesday, August 2nd. Finally, KeyCorp reaffirmed an “equal weight” rating on shares of Apple in a research report on Friday, August 4th. Eleven research analysts have rated the stock with a hold rating, forty-three have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $167.73.
In other Apple news, insider Luca Maestri sold 4,757 shares of the stock in a transaction on Friday, June 2nd. The shares were 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 of the company’s stock, valued at approximately $528,145.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Johny Srouji sold 10,019 shares of the stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $153.96, for a total transaction of $1,542,525.24. Following the sale, the insider now directly owns 91,291 shares of the company’s stock, valued at approximately $14,055,162.36. The disclosure for this sale can be found here. Insiders sold a total of 185,140 shares of company stock valued at $29,045,404 in the last ninety days. 0.08% of the stock is owned by corporate 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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