Laurel Wealth Advisors Inc. raised its stake in Apple Inc. (NASDAQ:AAPL) by 0.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 107,815 shares of the iPhone maker’s stock after buying an additional 938 shares during the period. Apple comprises about 6.0% of Laurel Wealth Advisors Inc.’s investment portfolio, making the stock its largest position. Laurel Wealth Advisors Inc.’s holdings in Apple were worth $15,487,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of AAPL. Stonehearth Capital Management LLC boosted its stake in shares of Apple by 0.8% in the first quarter. Stonehearth Capital Management LLC now owns 2,378 shares of the iPhone maker’s stock worth $342,000 after buying an additional 20 shares in the last quarter. Sippican Capital Advisors boosted its stake in shares of Apple by 0.5% in the first quarter. Sippican Capital Advisors now owns 4,912 shares of the iPhone maker’s stock worth $706,000 after buying an additional 26 shares in the last quarter. Cordasco Financial Network boosted its stake in shares of Apple by 1.0% in the first quarter. Cordasco Financial Network now owns 3,184 shares of the iPhone maker’s stock worth $457,000 after buying an additional 31 shares in the last quarter. Wall Street Access Asset Management LLC boosted its stake in shares of Apple by 0.3% in the fourth quarter. Wall Street Access Asset Management LLC now owns 18,345 shares of the iPhone maker’s stock worth $2,124,000 after buying an additional 50 shares in the last quarter. Finally, Lbmc Investment Advisors LLC boosted its stake in shares of Apple by 1.1% in the first quarter. Lbmc Investment Advisors LLC now owns 5,386 shares of the iPhone maker’s stock worth $774,000 after buying an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 61.50% of the company’s stock.
Apple Inc. (AAPL) traded up 1.6117% during trading on Tuesday, hitting $159.7437. The stock had a trading volume of 8,869,949 shares. The company has a market capitalization of $825.11 billion, a price-to-earnings ratio of 18.1362 and a beta of 1.31. Apple Inc. has a 12-month low of $102.53 and a 12-month high of $162.51. The stock has a 50 day moving average price of $152.37 and a 200 day moving average price of $146.13.
Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.10. The business had revenue of $45.41 billion for the quarter, compared to analyst estimates of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. Apple’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.42 EPS. Equities research analysts forecast that Apple Inc. will post $9.02 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Thursday, August 10th. Apple’s dividend payout ratio (DPR) is presently 28.64%.
Apple declared that its Board of Directors has approved a share buyback program on Tuesday, May 2nd that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to buy up to 6.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
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A number of equities research analysts have weighed in on the company. Rosenblatt Securities reiterated a “neutral” rating and issued a $150.00 price objective on shares of Apple in a research note on Monday. Royal Bank Of Canada reiterated an “outperform” rating and issued a $176.00 price objective on shares of Apple in a research note on Monday. Vetr upgraded Apple from a “hold” rating to a “buy” rating and set a $166.96 price objective for the company in a research note on Thursday, August 17th. BidaskClub upgraded Apple from a “hold” rating to a “buy” rating in a research note on Wednesday, August 16th. Finally, Barclays PLC reiterated a “hold” rating and issued a $146.00 price objective on shares of Apple in a research note on Tuesday, August 15th. Eleven equities research analysts have rated the stock with a hold rating, forty-three have assigned a buy rating and one has issued a strong buy rating to the company. Apple has an average rating of “Buy” and an average target price of $167.73.
In related news, SVP D Bruce Sewell sold 31,625 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $158.13, for a total transaction of $5,000,861.25. Following the sale, the senior vice president now owns 112,430 shares of the company’s stock, valued at approximately $17,778,555.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Johny Srouji sold 10,469 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $162.20, for a total transaction of $1,698,071.80. Following the completion of the transaction, the senior vice president now directly owns 76,250 shares in the company, valued at approximately $12,367,750. The disclosure for this sale can be found here. Insiders have sold a total of 249,640 shares of company stock worth $38,953,894 in the last ninety days. 0.08% of the stock is currently owned by insiders.
Apple Company Profile
Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.
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