Greenwood Gearhart Inc. raised its holdings in Apple Inc. (NASDAQ:AAPL) by 4.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 42,609 shares of the iPhone maker’s stock after buying an additional 1,911 shares during the period. Apple comprises about 2.2% of Greenwood Gearhart Inc.’s investment portfolio, making the stock its 18th biggest holding. Greenwood Gearhart Inc.’s holdings in Apple were worth $6,721,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of AAPL. Kiley Juergens Wealth Management LLC boosted its holdings in shares of Apple by 1.1% in the fourth quarter. Kiley Juergens Wealth Management LLC now owns 44,530 shares of the iPhone maker’s stock valued at $7,024,000 after acquiring an additional 494 shares in the last quarter. Rothschild & Co. Asset Management US Inc. boosted its holdings in Apple by 9.0% during the third quarter. Rothschild & Co. Asset Management US Inc. now owns 304,348 shares of the iPhone maker’s stock worth $68,704,000 after buying an additional 25,092 shares in the last quarter. Newman Dignan & Sheerar Inc. boosted its holdings in Apple by 5.2% during the third quarter. Newman Dignan & Sheerar Inc. now owns 23,123 shares of the iPhone maker’s stock worth $5,186,000 after buying an additional 1,142 shares in the last quarter. CKW Financial Group boosted its holdings in Apple by 15.0% during the fourth quarter. CKW Financial Group now owns 807 shares of the iPhone maker’s stock worth $127,000 after buying an additional 105 shares in the last quarter. Finally, Dundas Partners LLP boosted its holdings in Apple by 28.0% during the third quarter. Dundas Partners LLP now owns 43,775 shares of the iPhone maker’s stock worth $12,083,000 after buying an additional 9,585 shares in the last quarter. Institutional investors own 57.36% of the company’s stock.
In related news, insider Luca Maestri sold 51,138 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $196.61, for a total transaction of $10,054,242.18. Following the completion of the transaction, the insider now owns 27,448 shares of the company’s stock, valued at $5,396,551.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jeffrey E. Williams sold 56,411 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $210.36, for a total transaction of $11,866,617.96. Following the transaction, the chief operating officer now directly owns 151,187 shares of the company’s stock, valued at approximately $31,803,697.32. The disclosure for this sale can be found here. Insiders have sold 142,549 shares of company stock valued at $29,300,960 in the last ninety days. 0.05% of the stock is currently owned by company insiders.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, April 30th. The iPhone maker reported $2.46 EPS for the quarter, topping the consensus estimate of $2.37 by $0.09. Apple had a net margin of 22.12% and a return on equity of 51.29%. The firm had revenue of $58.02 billion during the quarter, compared to analyst estimates of $57.40 billion. During the same quarter in the prior year, the business posted $2.73 earnings per share. Apple’s revenue for the quarter was down 5.1% compared to the same quarter last year. Research analysts anticipate that Apple Inc. will post 11.48 earnings per share for the current fiscal year.
Apple declared that its Board of Directors has approved a stock repurchase program on Tuesday, April 30th that authorizes the company to buyback $75.00 billion in shares. This buyback authorization authorizes the iPhone maker to buy up to 7.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were given a dividend of $0.77 per share. This is a positive change from Apple’s previous quarterly dividend of $0.73. The ex-dividend date was Friday, May 10th. This represents a $3.08 annualized dividend and a yield of 1.68%. Apple’s dividend payout ratio is 25.86%.
A number of analysts recently commented on the stock. BidaskClub downgraded shares of Apple from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. Morgan Stanley set a $220.00 price objective on shares of Apple and gave the stock a “buy” rating in a report on Tuesday, March 26th. Jefferies Financial Group boosted their price objective on shares of Apple from $160.00 to $210.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. ValuEngine downgraded shares of Apple from a “buy” rating to a “hold” rating in a report on Monday, May 13th. Finally, Nomura decreased their price objective on shares of Apple from $180.00 to $175.00 and set a “neutral” rating on the stock in a report on Friday. Three investment analysts have rated the stock with a sell rating, twenty-three have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Apple currently has an average rating of “Hold” and a consensus target price of $211.40.
Apple Company Profile
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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