Alerus Financial NA lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 107,305 shares of the iPhone maker’s stock after acquiring an additional 3,047 shares during the quarter. Apple makes up approximately 2.6% of Alerus Financial NA’s holdings, making the stock its 7th biggest holding. Alerus Financial NA’s holdings in Apple were worth $18,004,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of AAPL. SG Americas Securities LLC increased its holdings in Apple by 1,527.6% during the first quarter. SG Americas Securities LLC now owns 2,652,244 shares of the iPhone maker’s stock valued at $444,993,000 after buying an additional 2,489,285 shares during the period. Mackay Shields LLC purchased a new position in Apple during the first quarter valued at approximately $332,905,000. Mackenzie Financial Corp increased its holdings in Apple by 270.5% during the fourth quarter. Mackenzie Financial Corp now owns 1,995,595 shares of the iPhone maker’s stock valued at $337,715,000 after buying an additional 1,457,017 shares during the period. Comerica Bank increased its holdings in Apple by 180.0% during the first quarter. Comerica Bank now owns 1,489,006 shares of the iPhone maker’s stock valued at $257,300,000 after buying an additional 957,144 shares during the period. Finally, ADAMCAPITAL Gestao de Recursos Ltda. purchased a new position in Apple during the fourth quarter valued at approximately $127,691,000. 60.11% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Craig Federighi sold 47,796 shares of Apple stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $207.50, for a total transaction of $9,917,670.00. Following the completion of the sale, the insider now directly owns 412,571 shares in the company, valued at $85,608,482.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Johny Srouji sold 14,976 shares of Apple stock in a transaction on Wednesday, May 23rd. The stock was sold at an average price of $187.74, for a total transaction of $2,811,594.24. Following the sale, the insider now owns 73,302 shares of the company’s stock, valued at $13,761,717.48. The disclosure for this sale can be found here. Insiders have sold 141,066 shares of company stock valued at $28,208,138 over the last quarter. Insiders own 0.06% of the company’s stock.
NASDAQ:AAPL opened at $217.58 on Monday. Apple Inc. has a 12 month low of $149.16 and a 12 month high of $217.95. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.31 and a quick ratio of 1.24. The firm has a market cap of $1,020.04 billion, a PE ratio of 23.62, a P/E/G ratio of 1.64 and a beta of 1.16.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, July 31st. The iPhone maker reported $2.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.18 by $0.16. Apple had a net margin of 21.98% and a return on equity of 43.50%. The business had revenue of $53.27 billion during the quarter, compared to the consensus estimate of $52.43 billion. During the same period in the previous year, the firm posted $1.67 earnings per share. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. equities analysts predict that Apple Inc. will post 11.68 EPS for the current year.
Apple announced that its board has approved a stock buyback program on Tuesday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to purchase up to 11.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 16th. Stockholders of record on Monday, August 13th were paid a dividend of $0.73 per share. The ex-dividend date was Friday, August 10th. This represents a $2.92 annualized dividend and a dividend yield of 1.34%. Apple’s payout ratio is currently 31.70%.
Several brokerages recently issued reports on AAPL. Atlantic Securities reissued a “neutral” rating and set a $205.00 price objective on shares of Apple in a report on Wednesday, August 1st. BMO Capital Markets lifted their price objective on shares of Apple from $184.00 to $199.00 and gave the company a “market perform” rating in a report on Wednesday, August 1st. They noted that the move was a valuation call. Goldman Sachs Group reissued a “neutral” rating and set a $200.00 price objective on shares of Apple in a report on Wednesday, August 1st. Needham & Company LLC lifted their price objective on shares of Apple from $210.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, August 1st. Finally, BidaskClub raised shares of Apple from a “hold” rating to a “buy” rating in a report on Tuesday, August 7th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $219.51.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
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