Apple Inc. (AAPL) Shares Bought by Gareth Morgan Investments Limited Partnership
Gareth Morgan Investments Limited Partnership lifted its holdings in Apple Inc. (NASDAQ:AAPL) by 43.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 197,228 shares of the iPhone maker’s stock after buying an additional 60,041 shares during the quarter. Apple comprises 2.3% of Gareth Morgan Investments Limited Partnership’s portfolio, making the stock its 3rd biggest holding. Gareth Morgan Investments Limited Partnership’s holdings in Apple were worth $28,334,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Saratoga Research & Investment Management raised its holdings 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 during the last quarter. Pinnacle Bank bought a new stake in Apple during the 1st quarter worth about $1,924,000. Norges Bank bought a new stake in Apple during the 4th quarter worth about $5,625,709,000. Perigon Wealth Management LLC raised its holdings 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 during the last quarter. Finally, Dodge & Cox bought a new stake in Apple during the 4th quarter worth about $1,725,000. 60.45% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently commented on AAPL shares. Keefe, Bruyette & Woods set a $170.00 price target on Apple and gave the company a “buy” rating in a research note on Monday, May 22nd. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $170.00 price target on shares of Apple in a research note on Wednesday, June 21st. Nomura reaffirmed a “buy” rating and issued a $165.00 price target on shares of Apple in a research note on Wednesday, July 5th. Morgan Stanley reaffirmed an “overweight” rating and issued a $177.00 price target (up from $161.00) on shares of Apple in a research note on Wednesday, May 17th. Finally, Maxim Group upped their price target on Apple from $171.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, June 19th. Eleven analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $169.30.
In other news, Director Arthur D. Levinson sold 35,000 shares of Apple stock in a transaction dated 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 sale, the director now directly owns 1,168,283 shares of the company’s stock, valued at $184,098,035.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel J. Riccio sold 11,949 shares of Apple stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $142.86, for a total value of $1,707,034.14. The disclosure for this sale can be found here. Insiders sold 432,930 shares of company stock worth $69,008,577 over the last ninety days. Insiders own 0.08% of the company’s stock.
Apple Inc. (NASDAQ AAPL) traded down 0.33% during trading on Tuesday, hitting $160.97. The stock had a trading volume of 17,784,695 shares. The company has a 50-day moving average of $158.01 and a 200 day moving average of $148.85. The firm has a market cap of $831.45 billion, a P/E ratio of 18.28 and a beta of 1.27. Apple Inc. has a 52-week low of $104.08 and a 52-week high of $164.94.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $45.41 billion for the quarter, compared to analysts’ expectations of $44.94 billion. During the same period in the previous year, the firm posted $1.42 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts predict that Apple Inc. will post $9.02 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were issued a $0.63 dividend. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $2.52 annualized dividend and a dividend yield of 1.56%. Apple’s dividend payout ratio (DPR) is 28.64%.
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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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