Fayez Sarofim & Co cut its stake in Apple Inc. (NASDAQ:AAPL) by 1.3% in the first quarter, HoldingsChannel.com reports. The fund owned 4,960,796 shares of the iPhone maker’s stock after selling 62,960 shares during the period. Apple accounts for 4.5% of Fayez Sarofim & Co’s holdings, making the stock its 5th biggest position. Fayez Sarofim & Co’s holdings in Apple were worth $832,323,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Smart Portfolios LLC bought a new stake in shares of Apple in the first quarter worth approximately $134,000. Macroview Investment Management LLC grew its stake in shares of Apple by 220.3% in the first quarter. Macroview Investment Management LLC now owns 900 shares of the iPhone maker’s stock worth $151,000 after acquiring an additional 619 shares during the period. Litman Gregory Asset Management LLC grew its stake in shares of Apple by 553.8% in the first quarter. Litman Gregory Asset Management LLC now owns 1,033 shares of the iPhone maker’s stock worth $173,000 after acquiring an additional 875 shares during the period. Stuart Chaussee & Associates Inc. grew its stake in shares of Apple by 940.8% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 1,072 shares of the iPhone maker’s stock worth $181,000 after acquiring an additional 969 shares during the period. Finally, Delphi Private Advisors LLC grew its position in Apple by 8,292.9% during the fourth quarter. Delphi Private Advisors LLC now owns 1,175 shares of the iPhone maker’s stock valued at $199,000 after buying an additional 1,161 shares during the period. Hedge funds and other institutional investors own 59.61% of the company’s stock.
In other news, insider Johny Srouji sold 14,140 shares of the business’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $214.98, for a total value of $3,039,817.20. Following the transaction, the insider now owns 68,302 shares of the company’s stock, valued at $14,683,563.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Luca Maestri sold 4,769 shares of the business’s stock in a transaction on Friday, June 1st. The stock was sold at an average price of $189.54, for a total transaction of $903,916.26. Following the completion of the transaction, the insider now directly owns 68,044 shares in the company, valued at approximately $12,897,059.76. The disclosure for this sale can be found here. Insiders sold 140,230 shares of company stock worth $28,436,361 in the last three months. Insiders own 0.06% of the company’s stock.
Shares of NASDAQ:AAPL opened at $215.04 on Wednesday. The company has a current ratio of 1.31, a quick ratio of 1.24 and a debt-to-equity ratio of 0.84. Apple Inc. has a 1-year low of $149.16 and a 1-year high of $219.18. The company has a market cap of $1,069.44 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 1.72 and a beta of 1.16.
Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 EPS for the quarter, topping the 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 firm had revenue of $53.27 billion for the quarter, compared to the consensus estimate of $52.43 billion. During the same quarter in the previous year, the firm earned $1.67 earnings per share. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. equities research analysts predict that Apple Inc. will post 11.68 EPS for the current fiscal year.
Apple declared that its board has approved a stock repurchase program on Tuesday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to buy up to 11.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 16th. Stockholders of record on Monday, August 13th were issued a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.36%. The ex-dividend date was Friday, August 10th. Apple’s dividend payout ratio (DPR) is presently 31.70%.
AAPL has been the subject of several recent research reports. Maxim Group upgraded shares of Apple from a “hold” rating to a “buy” rating in a research report on Thursday, May 31st. New Street Research lowered shares of Apple from a “neutral” rating to a “sell” rating in a research report on Monday. Loop Capital boosted their target price on shares of Apple from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, July 6th. Morgan Stanley boosted their target price on shares of Apple from $214.00 to $232.00 and gave the company an “overweight” rating in a research report on Tuesday, July 24th. Finally, UBS Group set a $210.00 target price on shares of Apple and gave the company a “buy” rating in a research report on Thursday, June 7th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Apple has an average rating of “Buy” and an average price target of $219.97.
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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