Osher Van de Voorde Investment Management Cuts Stake in Apple Inc. (AAPL)
Osher Van de Voorde Investment Management lessened its position in shares of Apple Inc. (NASDAQ:AAPL) by 28.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 59,713 shares of the iPhone maker’s stock after selling 23,212 shares during the period. Apple makes up about 4.7% of Osher Van de Voorde Investment Management’s portfolio, making the stock its 5th largest holding. Osher Van de Voorde Investment Management’s holdings in Apple were worth $8,578,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Saratoga Research & Investment Management increased its position in Apple by 0.6% during the 1st quarter. Saratoga Research & Investment Management now owns 667,132 shares of the iPhone maker’s stock worth $95,840,000 after purchasing an additional 4,137 shares in the last quarter. Pinnacle Bank acquired a new position in Apple during the 1st quarter worth approximately $1,924,000. Norges Bank acquired a new position in Apple during the 4th quarter worth approximately $5,625,709,000. Perigon Wealth Management LLC increased its position in Apple by 5.9% during the 4th quarter. Perigon Wealth Management LLC now owns 147,469 shares of the iPhone maker’s stock worth $20,613,000 after purchasing an additional 8,233 shares in the last quarter. Finally, IFM Investors Pty Ltd acquired a new position in Apple during the 4th quarter worth approximately $7,910,000. 60.44% of the stock is owned by institutional investors.
A number of equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods set a $170.00 price objective on shares of Apple and gave the stock a “buy” rating in a research report on Monday, May 22nd. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $170.00 price objective on shares of Apple in a research report on Wednesday, June 21st. Nomura reiterated a “buy” rating and set a $165.00 price objective on shares of Apple in a research report on Wednesday, July 5th. Morgan Stanley reiterated an “overweight” rating and set a $177.00 price objective (up from $161.00) on shares of Apple in a research report on Wednesday, May 17th. Finally, Maxim Group upped their price objective on shares of Apple from $171.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, June 19th. Eleven equities research 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’s stock. The company has an average rating of “Buy” and an average price target of $169.11.
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In other news, Director Arthur D. Levinson sold 35,000 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $157.58, for a total transaction of $5,515,300.00. Following the sale, the director now owns 1,168,283 shares in the company, valued at $184,098,035.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 268,623 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $160.63, for a total value of $43,148,912.49. The disclosure for this sale can be found here. Insiders have sold 432,930 shares of company stock worth $69,008,577 in the last 90 days. Insiders own 0.08% of the company’s stock.
Apple Inc. (NASDAQ AAPL) traded down 0.62% during trading on Wednesday, reaching $161.08. 10,510,118 shares of the company’s stock traded hands. The firm has a market cap of $832.01 billion, a price-to-earnings ratio of 18.29 and a beta of 1.27. Apple Inc. has a one year low of $102.53 and a one year high of $164.94. The company has a 50 day moving average of $156.93 and a 200 day moving average of $148.33.
Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) 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 company had revenue of $45.41 billion for the quarter, compared to analyst estimates of $44.94 billion. During the same quarter in the previous year, the firm earned $1.42 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities research analysts predict that Apple Inc. will post $9.02 EPS for the current year.
The firm also recently declared 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 was Thursday, August 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.55%. Apple’s payout ratio is 28.64%.
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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