RBO & Co. LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 11.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,380 shares of the iPhone maker’s stock after buying an additional 7,151 shares during the quarter. Apple comprises approximately 3.0% of RBO & Co. LLC’s holdings, making the stock its 12th largest position. RBO & Co. LLC’s holdings in Apple were worth $11,641,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Smart Portfolios LLC acquired a new stake in shares of Apple during the first quarter worth $134,000. Macroview Investment Management LLC raised its position in shares of Apple by 220.3% during the first quarter. Macroview Investment Management LLC now owns 900 shares of the iPhone maker’s stock worth $151,000 after purchasing an additional 619 shares during the period. Litman Gregory Asset Management LLC raised its position in shares of Apple by 553.8% during the first quarter. Litman Gregory Asset Management LLC now owns 1,033 shares of the iPhone maker’s stock worth $173,000 after purchasing an additional 875 shares during the period. Stuart Chaussee & Associates Inc. raised its position in shares of Apple by 940.8% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 1,072 shares of the iPhone maker’s stock worth $181,000 after purchasing an additional 969 shares during the period. Finally, Delphi Private Advisors LLC raised its position in shares of Apple by 8,292.9% during the fourth quarter. Delphi Private Advisors LLC now owns 1,175 shares of the iPhone maker’s stock worth $199,000 after purchasing an additional 1,161 shares during the period. Hedge funds and other institutional investors own 58.61% of the company’s stock.
In other news, insider Angela J. Ahrendts sold 6,568 shares of the stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $188.81, for a total value of $1,240,104.08. Following the completion of the transaction, the insider now directly owns 79,476 shares of the company’s stock, valued at approximately $15,005,863.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Timothy D. Cook sold 265,160 shares of the stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $217.79, for a total value of $57,749,196.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 384,968 shares of company stock valued at $82,292,858. 0.08% of the stock is currently owned by insiders.
Shares of AAPL opened at $223.10 on Friday. Apple Inc. has a 1 year low of $149.16 and a 1 year high of $229.67. The company has a quick ratio of 1.24, a current ratio of 1.31 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $1,115.10 billion, a PE ratio of 20.57, a P/E/G ratio of 1.76 and a beta of 1.33.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.18 by $0.16. Apple had a return on equity of 43.50% and a net margin of 21.98%. The business had revenue of $53.27 billion during the quarter, compared to analysts’ expectations of $52.43 billion. During the same period in the prior year, the firm posted $1.67 EPS. Apple’s quarterly revenue was up 17.3% compared to the same quarter last year. equities research analysts expect that Apple Inc. will post 11.68 earnings per share for the current year.
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. The ex-dividend date was Friday, August 10th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.31%. Apple’s payout ratio is presently 31.70%.
Several research analysts recently weighed in on the company. Argus upped their price target on Apple from $210.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, June 8th. UBS Group set a $210.00 price target on Apple and gave the company a “buy” rating in a research report on Thursday, June 7th. BidaskClub raised Apple from a “hold” rating to a “buy” rating in a research report on Tuesday, May 29th. Maxim Group raised Apple from a “hold” rating to a “buy” rating in a research report on Thursday, May 31st. Finally, Macquarie reaffirmed a “buy” rating and issued a $197.00 target price on shares of Apple in a research report on Monday, June 11th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $225.12.
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.
Further Reading: Outstanding Shares and The Effect on Share Price
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