Armbruster Capital Management Inc. Buys 78 Shares of Apple Inc. (AAPL)
Armbruster Capital Management Inc. lifted its stake in Apple Inc. (NASDAQ:AAPL) by 9.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 911 shares of the iPhone maker’s stock after purchasing an additional 78 shares during the period. Armbruster Capital Management Inc.’s holdings in Apple were worth $131,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in AAPL. Hefty Wealth Partners boosted its holdings in Apple by 27.6% in the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock valued at $115,000 after purchasing an additional 174 shares during the period. American Beacon Advisors Inc. purchased a new position in Apple in the first quarter valued at $117,000. State of Alaska Department of Revenue purchased a new position in Apple in the second quarter valued at $149,000. D. Scott Neal Inc. boosted its holdings in Apple by 19.8% in the second quarter. D. Scott Neal Inc. now owns 1,212 shares of the iPhone maker’s stock valued at $175,000 after purchasing an additional 200 shares during the period. Finally, Advocacy Wealth Management Services LLC boosted its holdings in Apple by 4.0% in the second quarter. Advocacy Wealth Management Services LLC now owns 1,337 shares of the iPhone maker’s stock valued at $193,000 after purchasing an additional 52 shares during the period. Hedge funds and other institutional investors own 60.38% of the company’s stock.
In other news, CEO Timothy D. Cook sold 268,623 shares of the stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $160.63, for a total transaction of $43,148,912.49. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Johny Srouji sold 5,892 shares of the stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $161.00, for a total transaction of $948,612.00. Following the transaction, the insider now directly owns 70,358 shares in the company, valued at approximately $11,327,638. The disclosure for this sale can be found here. Insiders have sold 410,352 shares of company stock worth $65,356,512 in the last ninety days. Corporate insiders own 0.08% of the company’s stock.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, topping the consensus estimate of $1.87 by $0.20. Apple had a net margin of 21.09% and a return on equity of 36.29%. The business had revenue of $52.58 billion for the quarter, compared to analysts’ expectations of $50.71 billion. During the same quarter last year, the company posted $1.50 earnings per share. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. research analysts forecast that Apple Inc. will post 11.18 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Monday, November 13th were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, November 10th. This represents a $2.52 annualized dividend and a dividend yield of 1.48%. Apple’s payout ratio is 27.39%.
A number of research analysts recently issued reports on AAPL shares. Barclays PLC reiterated a “hold” rating and issued a $146.00 target price on shares of Apple in a report on Monday, September 4th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $180.00 target price on shares of Apple in a report on Monday, September 11th. Morgan Stanley reiterated an “overweight” rating and issued a $194.00 target price (up from $182.00) on shares of Apple in a report on Tuesday, September 12th. Credit Suisse Group reiterated an “outperform” rating and issued a $170.00 target price on shares of Apple in a report on Tuesday, July 25th. Finally, Macquarie lifted their target price on Apple from $170.00 to $180.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. Seven analysts have rated the stock with a hold rating and forty-six have assigned a buy rating to the stock. Apple currently has an average rating of “Buy” and a consensus target price of $200.24.
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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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