Academy Capital Management Inc. TX Sells 609 Shares of Apple Inc. (AAPL)
Academy Capital Management Inc. TX lowered its stake in Apple Inc. (NASDAQ:AAPL) by 0.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 66,767 shares of the iPhone maker’s stock after selling 609 shares during the period. Apple accounts for 2.7% of Academy Capital Management Inc. TX’s holdings, making the stock its 17th largest position. Academy Capital Management Inc. TX’s holdings in Apple were worth $9,615,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of AAPL. Hefty Wealth Partners boosted its position in Apple by 27.6% in the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after buying an additional 174 shares during the last quarter. American Beacon Advisors Inc. purchased a new position in Apple during the first quarter worth $117,000. Glacier Peak Capital LLC purchased a new position in Apple during the fourth quarter worth $127,000. State of Alaska Department of Revenue purchased a new position in Apple during the second quarter worth $149,000. Finally, Portfolio Solutions LLC purchased a new position in Apple during the first quarter worth $169,000. 60.43% of the stock is owned by hedge funds and other institutional investors.
Apple Inc. (NASDAQ:AAPL) traded up 0.474% during mid-day trading on Thursday, reaching $164.125. The company had a trading volume of 14,461,895 shares. Apple Inc. has a 12-month low of $102.53 and a 12-month high of $164.52. The stock has a 50-day moving average of $153.93 and a 200 day moving average of $146.76. The company has a market capitalization of $847.74 billion, a price-to-earnings ratio of 18.634 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 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 during the quarter, compared to analyst estimates of $44.94 billion. During the same period in the prior year, the company earned $1.42 earnings per share. Apple’s revenue was up 7.2% compared to the same quarter last year. On average, analysts expect that Apple Inc. will post $9.02 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.54%. The ex-dividend date was Thursday, August 10th. Apple’s dividend payout ratio (DPR) is 28.64%.
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AAPL has been the subject of a number of recent analyst reports. Royal Bank Of Canada lifted their price objective on shares of Apple from $157.00 to $168.00 and gave the company an “outperform” rating in a report on Monday, May 22nd. Morgan Stanley lifted their price objective on shares of Apple from $177.00 to $182.00 and gave the company an “overweight” rating in a report on Monday, July 17th. Needham & Company LLC reiterated a “buy” rating and issued a $175.00 target price (up previously 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 shares of Apple and gave the company a “hold” rating in a research report on Wednesday, May 3rd. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $180.00 target price (up previously from $175.00) on shares of Apple in a research report on Wednesday, August 2nd. Eleven investment analysts have rated the stock with a hold rating, forty-four have issued a buy rating and one has issued a strong buy rating to the company. Apple presently has an average rating of “Buy” and an average price target of $168.59.
In other news, CEO Timothy D. Cook sold 268,623 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $160.63, for a total value of $43,148,912.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 stock was sold at an average price of $157.58, for a total value of $5,515,300.00. Following the completion of the transaction, the director now directly owns 1,168,283 shares of the company’s stock, valued at $184,098,035.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 449,636 shares of company stock valued at $71,600,403. 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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