West Oak Capital LLC Has $2.31 Million Position in Apple Inc. (AAPL)
West Oak Capital LLC decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 9.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,031 shares of the iPhone maker’s stock after selling 1,584 shares during the period. Apple comprises approximately 1.4% of West Oak Capital LLC’s investment portfolio, making the stock its 9th biggest holding. West Oak Capital LLC’s holdings in Apple were worth $2,309,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of AAPL. Hefty Wealth Partners raised its stake 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 in the last quarter. American Beacon Advisors Inc. bought a new position in Apple in the first quarter worth approximately $117,000. Portfolio Solutions LLC bought a new position in Apple in the first quarter worth approximately $169,000. Fox Run Management L.L.C. bought a new position in Apple in the first quarter worth approximately $201,000. Finally, Stone House Investment Management LLC bought a new position in Apple in the first quarter worth approximately $225,000. 60.45% of the stock is owned by institutional investors.
A number of brokerages recently commented on AAPL. Keefe, Bruyette & Woods set a $170.00 price objective on shares of Apple and gave the stock 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 report on Wednesday, June 21st. Nomura reaffirmed a “buy” rating and issued a $165.00 price target on shares of Apple in a report on Wednesday, July 5th. Maxim Group lifted their price target on shares of Apple from $171.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, June 19th. Finally, UBS AG reaffirmed a “buy” rating and issued a $170.00 price target on shares of Apple in a report on Wednesday, May 31st. Eleven investment analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $187.63.
In other Apple news, insider Daniel J. Riccio sold 11,949 shares of the stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $142.86, for a total transaction of $1,707,034.14. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Arthur D. Levinson sold 35,000 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $157.58, for a total value of $5,515,300.00. Following the transaction, the director now owns 1,168,283 shares in the company, valued at approximately $184,098,035.14. The disclosure for this sale can be found here. In the last quarter, insiders have sold 432,930 shares of company stock worth $69,008,577. Corporate insiders own 0.08% of the company’s stock.
Shares of Apple Inc. (NASDAQ AAPL) traded up 1.01% on Friday, hitting $159.88. 49,114,602 shares of the stock traded hands. The stock has a 50-day moving average price of $158.97 and a 200 day moving average price of $149.42. Apple Inc. has a 12-month low of $104.08 and a 12-month high of $164.94. The stock has a market cap of $825.82 billion, a price-to-earnings ratio of 18.15 and a beta of 1.27.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 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 the consensus estimate of $44.94 billion. During the same quarter last year, the company posted $1.42 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, analysts anticipate that Apple Inc. will post $9.01 earnings per share for the current fiscal year.
The business also recently declared 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. The ex-dividend date was Thursday, August 10th. This represents a $2.52 annualized dividend and a yield of 1.58%. Apple’s dividend payout ratio (DPR) is presently 28.64%.
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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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