Apple Inc. (AAPL) Shares Sold by Cape ANN Savings Bank
Cape ANN Savings Bank decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,019 shares of the iPhone maker’s stock after selling 160 shares during the period. Apple accounts for approximately 2.7% of Cape ANN Savings Bank’s portfolio, making the stock its 11th largest position. Cape ANN Savings Bank’s holdings in Apple were worth $2,019,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in AAPL. Norges Bank acquired a new stake in shares of Apple during the fourth quarter valued at about $5,625,709,000. Glenview Capital Management LLC acquired a new stake in shares of Apple during the fourth quarter valued at about $365,191,000. Canada Pension Plan Investment Board raised its stake in shares of 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. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Apple during the first quarter valued at about $190,134,000. Finally, Numeric Investors LLC raised its stake in shares of Apple by 99.0% in the fourth quarter. Numeric Investors LLC now owns 1,718,307 shares of the iPhone maker’s stock valued at $199,014,000 after buying an additional 854,920 shares in the last quarter. 60.43% of the stock is owned by hedge funds and other institutional investors.
Shares of Apple Inc. (NASDAQ AAPL) traded up 0.78% during trading on Tuesday, hitting $162.73. The company had a trading volume of 13,561,479 shares. The firm’s 50 day moving average is $153.93 and its 200-day moving average is $146.76. The stock has a market capitalization of $840.54 billion, a P/E ratio of 18.48 and a beta of 1.31. Apple Inc. has a 52 week low of $102.53 and a 52 week high of $162.85.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.10. The business had revenue of $45.41 billion for the quarter, compared to analysts’ expectations of $44.94 billion. Apple had a return on equity of 35.40% and a net margin of 20.87%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.42 EPS. Equities research analysts anticipate that Apple Inc. will post $9.02 EPS for the current fiscal year.
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 a sign that the company’s board believes its stock is undervalued.
The business also recently announced 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 1.56%. The ex-dividend date was Thursday, August 10th. Apple’s dividend payout ratio is currently 28.64%.
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AAPL has been the subject of several research analyst reports. Royal Bank Of Canada raised their target price on Apple from $157.00 to $168.00 and gave the company an “outperform” rating in a research report on Monday, May 22nd. Morgan Stanley raised their target price on Apple from $177.00 to $182.00 and gave the company an “overweight” rating in a research report on Monday, July 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $175.00 target price (up from $165.00) on shares of Apple in a research report on Wednesday, August 2nd. They noted that the move was a valuation call. Rosenblatt Securities set a $120.00 target price on Apple and gave the company a “hold” rating in a research report on Wednesday, May 3rd. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $180.00 target price (up from $175.00) on shares of Apple in a research report on Wednesday, August 2nd. Eleven analysts have rated the stock with a hold rating, forty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $168.59.
In other news, insider Daniel J. Riccio sold 11,949 shares of the business’s stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $142.86, for a total transaction of $1,707,034.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Luca Maestri sold 4,757 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $154.70, for a total value of $735,907.90. Following the transaction, the insider now owns 3,414 shares in the company, valued at $528,145.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 443,744 shares of company stock worth $70,651,791. 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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