Tortoise Investment Management LLC lifted its holdings in Apple Inc. (NASDAQ:AAPL) by 28.5% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 13,935 shares of the iPhone maker’s stock after acquiring an additional 3,090 shares during the quarter. Tortoise Investment Management LLC’s holdings in Apple were worth $2,338,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in AAPL. Dock Street Asset Management Inc. lifted its holdings in shares of Apple by 2.9% in the 4th quarter. Dock Street Asset Management Inc. now owns 218,766 shares of the iPhone maker’s stock worth $37,022,000 after acquiring an additional 6,174 shares during the last quarter. UBP Investment Advisors SA bought a new stake in shares of Apple in the 4th quarter worth approximately $799,000. Exane Derivatives bought a new stake in shares of Apple in the 4th quarter worth approximately $752,000. PGGM Investments lifted its holdings in shares of Apple by 9.6% in the 4th quarter. PGGM Investments now owns 2,305,200 shares of the iPhone maker’s stock worth $390,109,000 after acquiring an additional 202,386 shares during the last quarter. Finally, Epstein & White Financial LLC bought a new stake in shares of Apple in the 4th quarter worth approximately $969,000. Hedge funds and other institutional investors own 58.61% of the company’s stock.
Several research analysts recently commented on the stock. Loop Capital lifted their target price on shares of Apple from $195.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, July 6th. Needham & Company LLC lifted their target price on shares of Apple from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, August 1st. BidaskClub downgraded shares of Apple from a “buy” rating to a “hold” rating in a research note on Wednesday, May 23rd. DZ Bank reaffirmed a “buy” rating on shares of Apple in a research note on Wednesday, August 1st. Finally, Sanford C. Bernstein set a $190.00 target price on shares of Apple and gave the stock a “neutral” rating in a research note on Monday, July 16th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $220.52.
Shares of Apple stock opened at $222.98 on Thursday. The company has a current ratio of 1.31, a quick ratio of 1.24 and a debt-to-equity ratio of 0.84. The firm has a market cap of $1,071.21 billion, a price-to-earnings ratio of 19.76, a P/E/G ratio of 1.69 and a beta of 1.16. Apple Inc. has a 12-month low of $149.16 and a 12-month high of $223.49.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.18 by $0.16. The business had revenue of $53.27 billion for the quarter, compared to the consensus estimate of $52.43 billion. Apple had a net margin of 21.98% and a return on equity of 43.50%. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.67 EPS. analysts forecast that Apple Inc. will post 11.68 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 16th. Stockholders of record on Monday, August 13th were given a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date was Friday, August 10th. Apple’s dividend payout ratio is presently 31.70%.
In other news, CEO Timothy D. Cook sold 265,160 shares of the company’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $217.79, for a total value of $57,749,196.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Craig Federighi sold 47,796 shares of the company’s stock in a transaction dated Thursday, August 9th. The stock was 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 disclosure for this sale can be found here. Insiders sold a total of 405,390 shares of company stock worth $86,185,558 over the last ninety days. Insiders own 0.08% of the company’s stock.
Apple Company Profile
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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