Deane Retirement Strategies Inc. Acquires 452 Shares of Apple Inc. (AAPL)
Deane Retirement Strategies Inc. raised its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,776 shares of the iPhone maker’s stock after buying an additional 452 shares during the period. Apple comprises 2.4% of Deane Retirement Strategies Inc.’s investment portfolio, making the stock its 13th largest position. Deane Retirement Strategies Inc.’s holdings in Apple were worth $2,687,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Contrarius Investment Management Ltd boosted its position in shares of Apple by 21.5% in the first quarter. Contrarius Investment Management Ltd now owns 843,382 shares of the iPhone maker’s stock valued at $91,920,000 after buying an additional 149,376 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new position in shares of Apple during the first quarter valued at about $325,287,000. Holowesko Partners Ltd. boosted its position in shares of Apple by 99.4% in the first quarter. Holowesko Partners Ltd. now owns 616,800 shares of the iPhone maker’s stock valued at $67,225,000 after buying an additional 307,400 shares in the last quarter. Acrospire Investment Management LLC purchased a new position in shares of Apple during the first quarter valued at about $240,000. Finally, Baker Ellis Asset Management LLC boosted its position in shares of Apple by 3.2% in the first quarter. Baker Ellis Asset Management LLC now owns 15,898 shares of the iPhone maker’s stock valued at $1,733,000 after buying an additional 488 shares in the last quarter. Hedge funds and other institutional investors own 57.11% of the company’s stock.
Shares of Apple Inc. (NASDAQ:AAPL) traded down 0.10% during midday trading on Tuesday, reaching $111.46. 28,528,135 shares of the company’s stock traded hands. Apple Inc. has a 12 month low of $89.47 and a 12 month high of $119.86. The stock has a 50 day moving average of $112.99 and a 200-day moving average of $105.64. The stock has a market cap of $594.34 billion, a P/E ratio of 13.41 and a beta of 1.34.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, October 25th. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.66 by $0.01. The firm earned $46.85 billion during the quarter, compared to the consensus estimate of $46.88 billion. Apple had a net margin of 21.19% and a return on equity of 35.59%. The company’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.96 earnings per share. On average, equities research analysts forecast that Apple Inc. will post $9.05 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Monday, November 7th were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.05%. The ex-dividend date was Thursday, November 3rd. Apple’s payout ratio is currently 27.57%.
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A number of equities analysts have recently weighed in on AAPL shares. Pacific Crest reissued a “buy” rating and issued a $129.00 price target on shares of Apple in a report on Wednesday, October 26th. Vetr cut Apple from a “hold” rating to a “sell” rating and set a $103.98 price target for the company. in a report on Monday, August 8th. RBC Capital Markets reissued an “outperform” rating and issued a $115.00 price target on shares of Apple in a report on Friday, August 5th. Wells Fargo & Co. reissued a “market perform” rating on shares of Apple in a report on Friday, September 9th. Finally, Macquarie reissued an “outperform” rating and issued a $115.00 price target on shares of Apple in a report on Friday, August 26th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, forty-two have assigned a buy rating and two have issued a strong buy rating to the stock. Apple currently has an average rating of “Buy” and a consensus target price of $128.29.
In related news, CFO Luca Maestri sold 16,950 shares of Apple stock in a transaction on Monday, November 7th. The shares were sold at an average price of $110.03, for a total transaction of $1,865,008.50. Following the completion of the transaction, the chief financial officer now owns 12,055 shares of the company’s stock, valued at $1,326,411.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel J. Riccio sold 22,381 shares of Apple stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $113.06, for a total transaction of $2,530,395.86. Following the transaction, the insider now directly owns 47,043 shares of the company’s stock, valued at approximately $5,318,681.58. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.
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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