Checchi Capital Advisers LLC boosted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 5.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 59,019 shares of the iPhone maker’s stock after buying an additional 3,229 shares during the period. Apple comprises about 1.0% of Checchi Capital Advisers LLC’s investment portfolio, making the stock its 7th largest position. Checchi Capital Advisers LLC’s holdings in Apple were worth $8,479,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Glacier Peak Capital LLC purchased a new stake in shares of Apple during the fourth quarter valued at approximately $127,000. Portfolio Solutions LLC purchased a new stake in shares of Apple during the first quarter valued at approximately $169,000. Fox Run Management L.L.C. purchased a new stake in shares of Apple during the first quarter valued at approximately $201,000. Salem Capital Management Inc. purchased a new stake in shares of Apple during the first quarter valued at approximately $226,000. Finally, Grubman Wealth Management purchased a new stake in shares of Apple during the first quarter valued at approximately $261,000. 60.43% of the stock is owned by institutional investors and hedge funds.

Apple Inc. (NASDAQ:AAPL) traded up 0.27% on Wednesday, reaching $163.35. The company had a trading volume of 9,810,786 shares. Apple Inc. has a one year low of $102.53 and a one year high of $163.89. The company’s 50 day moving average is $153.93 and its 200-day moving average is $146.76. The firm has a market capitalization of $843.74 billion, a price-to-earnings ratio of 18.55 and a beta of 1.31.

Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.10. The business had revenue of $45.41 billion for the quarter, compared to the consensus estimate of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.42 EPS. On average, equities research analysts expect that Apple Inc. will post $9.02 earnings per share for the current fiscal year.

Apple declared that its board has initiated a share buyback plan on Tuesday, May 2nd that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to purchase up to 6.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

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 dividend of $0.63 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.55%. Apple’s dividend payout ratio is presently 28.64%.

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Several brokerages recently commented on AAPL. UBS AG set a $165.00 price target on Apple and gave the company a “buy” rating in a research note on Wednesday, May 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $160.08 target price (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 target price on shares of Apple in a research report on Friday, August 11th. Instinet reaffirmed a “buy” rating and set a $175.00 target price (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-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Apple has an average rating of “Buy” and a consensus price target of $168.59.

In other news, CEO Timothy D. Cook sold 268,623 shares of the stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $160.63, for a total transaction of $43,148,912.49. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP D Bruce Sewell sold 31,625 shares of the stock in a transaction that occurred 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 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 quarter, 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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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