Sabal Trust CO Has $31.95 Million Position in Apple Inc. (AAPL)
Sabal Trust CO increased its stake in Apple Inc. (NASDAQ:AAPL) by 2.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 221,839 shares of the iPhone maker’s stock after acquiring an additional 6,265 shares during the quarter. Apple comprises 3.4% of Sabal Trust CO’s holdings, making the stock its 2nd largest holding. Sabal Trust CO’s holdings in Apple were worth $31,950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently bought and sold shares of the company. Hefty Wealth Partners lifted its stake in shares of 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 acquiring an additional 174 shares during the period. American Beacon Advisors Inc. acquired a new position in shares of Apple in the first quarter worth approximately $117,000. State of Alaska Department of Revenue acquired a new position in shares of Apple in the second quarter worth approximately $149,000. Portfolio Solutions LLC acquired a new position in shares of Apple in the first quarter worth approximately $169,000. Finally, D. Scott Neal Inc. lifted its stake in shares of Apple by 19.8% in the second quarter. D. Scott Neal Inc. now owns 1,212 shares of the iPhone maker’s stock worth $175,000 after acquiring an additional 200 shares during the period. 60.45% of the stock is currently owned by institutional investors.
Shares of Apple Inc. (NASDAQ:AAPL) traded up 0.28% during midday trading on Tuesday, reaching $161.96. The company’s stock had a trading volume of 21,589,362 shares. The stock has a market capitalization of $836.56 billion, a PE ratio of 18.39 and a beta of 1.27. Apple Inc. has a 52 week low of $104.08 and a 52 week high of $164.94. The company has a 50 day moving average price of $158.01 and a 200-day moving average price of $148.85.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.10. The business had revenue of $45.41 billion during 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 business’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.42 EPS. On average, equities research analysts expect that Apple Inc. will post $9.02 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Investors 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 yield of 1.56%. Apple’s dividend payout ratio (DPR) is presently 28.64%.
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In related news, CEO Timothy D. Cook sold 268,623 shares of Apple stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $160.63, for a total value of $43,148,912.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Johny Srouji sold 5,892 shares of Apple stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $161.00, for a total transaction of $948,612.00. Following the completion of the sale, the insider now owns 70,358 shares of the company’s stock, valued at approximately $11,327,638. The disclosure for this sale can be found here. Insiders sold a total of 432,930 shares of company stock valued at $69,008,577 in the last quarter. 0.08% of the stock is owned by insiders.
A number of research firms recently commented on AAPL. Barclays PLC reaffirmed a “hold” rating and issued a $146.00 price objective on shares of Apple in a research note on Monday, September 4th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $190.00 price objective on shares of Apple in a research note on Tuesday, September 5th. Robert W. Baird reaffirmed a “buy” rating and issued a $172.00 price objective on shares of Apple in a research note on Tuesday, September 5th. Royal Bank Of Canada lifted their price objective on Apple from $176.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday, September 1st. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Apple in a research note on Wednesday, September 6th. Eleven analysts have rated the stock with a hold rating and forty-four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $169.30.
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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