Albion Financial Group UT raised its holdings in Apple Inc. (NASDAQ:AAPL) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 113,936 shares of the iPhone maker’s stock after acquiring an additional 430 shares during the period. Apple comprises 2.8% of Albion Financial Group UT’s holdings, making the stock its 7th biggest holding. Albion Financial Group UT’s holdings in Apple were worth $17,972,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. Hills Bank & Trust Co. grew its position in Apple by 0.8% in the fourth quarter. Hills Bank & Trust Co. now owns 39,443 shares of the iPhone maker’s stock valued at $6,221,000 after acquiring an additional 327 shares during the last quarter. Greenwood Gearhart Inc. grew its holdings in shares of Apple by 4.7% during the fourth quarter. Greenwood Gearhart Inc. now owns 42,609 shares of the iPhone maker’s stock worth $6,721,000 after purchasing an additional 1,911 shares during the last quarter. First National Trust Co grew its holdings in shares of Apple by 3.8% during the fourth quarter. First National Trust Co now owns 122,461 shares of the iPhone maker’s stock worth $19,317,000 after purchasing an additional 4,460 shares during the last quarter. Northwest Investment Counselors LLC grew its holdings in shares of Apple by 5.8% during the fourth quarter. Northwest Investment Counselors LLC now owns 20,194 shares of the iPhone maker’s stock worth $3,185,000 after purchasing an additional 1,112 shares during the last quarter. Finally, Mascoma Wealth Management LLC grew its holdings in shares of Apple by 1.7% during the fourth quarter. Mascoma Wealth Management LLC now owns 9,353 shares of the iPhone maker’s stock worth $1,475,000 after purchasing an additional 157 shares during the last quarter. Hedge funds and other institutional investors own 57.36% of the company’s stock.
In other Apple news, insider Luca Maestri sold 51,138 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $196.61, for a total value of $10,054,242.18. Following the transaction, the insider now directly owns 27,448 shares of the company’s stock, valued at $5,396,551.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jeffrey E. Williams sold 56,411 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $210.36, for a total value of $11,866,617.96. Following the completion of the transaction, the chief operating officer now directly owns 151,187 shares in the company, valued at $31,803,697.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 142,549 shares of company stock worth $29,300,960. Insiders own 0.05% of the company’s stock.
Shares of AAPL opened at $183.09 on Tuesday. Apple Inc. has a 52-week low of $142.00 and a 52-week high of $233.47. The company has a current ratio of 1.32, a quick ratio of 1.26 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $928.96 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 1.60 and a beta of 1.14.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, April 30th. The iPhone maker reported $2.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.37 by $0.09. Apple had a return on equity of 51.29% and a net margin of 22.12%. The firm had revenue of $58.02 billion for the quarter, compared to analyst estimates of $57.40 billion. During the same period in the previous year, the firm earned $2.73 earnings per share. The company’s revenue was down 5.1% compared to the same quarter last year. Equities analysts predict that Apple Inc. will post 11.48 earnings per share for the current year.
Apple declared that its Board of Directors has initiated a stock buyback plan on Tuesday, April 30th that allows the company to repurchase $75.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to repurchase up to 7.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were paid a $0.77 dividend. The ex-dividend date was Friday, May 10th. This is a positive change from Apple’s previous quarterly dividend of $0.73. This represents a $3.08 annualized dividend and a yield of 1.68%. Apple’s payout ratio is 25.86%.
Several analysts have recently weighed in on the company. Piper Jaffray Companies boosted their price target on Apple from $201.00 to $230.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Sanford C. Bernstein set a $190.00 price target on Apple and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Morgan Stanley boosted their price target on Apple from $234.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Jefferies Financial Group boosted their price target on Apple from $160.00 to $210.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Finally, Loop Capital boosted their price target on Apple to $190.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Three research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Apple has an average rating of “Hold” and a consensus price target of $211.40.
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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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