Apple Inc. (NASDAQ:AAPL) Stake Raised by Bank Hapoalim BM
Bank Hapoalim BM raised its position in Apple Inc. (NASDAQ:AAPL) by 104.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,084 shares of the iPhone maker’s stock after buying an additional 21,461 shares during the period. Apple accounts for about 1.4% of Bank Hapoalim BM’s holdings, making the stock its 17th largest position. Bank Hapoalim BM’s holdings in Apple were worth $6,046,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Cim Investment Mangement Inc. increased its stake in shares of Apple by 1.1% in the fourth quarter. Cim Investment Mangement Inc. now owns 40,347 shares of the iPhone maker’s stock worth $4,673,000 after buying an additional 449 shares during the last quarter. Smith Shellnut Wilson LLC ADV purchased a new position in shares of Apple during the fourth quarter worth approximately $766,000. Total Investment Management Inc. purchased a new position in shares of Apple during the fourth quarter worth approximately $1,223,000. WESCAP Management Group Inc. boosted its position in shares of Apple by 1.5% in the fourth quarter. WESCAP Management Group Inc. now owns 12,092 shares of the iPhone maker’s stock worth $1,400,000 after buying an additional 174 shares during the period. Finally, Diligent Investors LLC purchased a new position in shares of Apple during the fourth quarter worth approximately $3,440,000. 61.13% of the stock is owned by hedge funds and other institutional investors.
Shares of Apple Inc. (NASDAQ AAPL) opened at 156.39 on Monday. Apple Inc. has a 52-week low of $102.53 and a 52-week high of $157.40. The company has a 50-day moving average price of $147.04 and a 200 day moving average price of $142.60. The firm has a market capitalization of $808.50 billion, a PE ratio of 17.76 and a beta of 1.31.
Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, topping the consensus estimate of $1.57 by $0.10. The business had revenue of $45.41 billion for the quarter, compared to the consensus estimate of $44.94 billion. Apple had a return on equity of 35.40% and a net margin of 20.87%. Apple’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.42 EPS. Analysts expect that Apple Inc. will post $9.00 EPS for the current fiscal year.
Apple declared that its board has authorized a stock repurchase program on Tuesday, May 2nd that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 6.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Monday, August 14th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Thursday, August 10th. Apple’s payout ratio is currently 28.64%.
A number of brokerages recently commented on AAPL. Keefe, Bruyette & Woods set a $170.00 target price on Apple and gave the company a “buy” rating in a report on Monday, May 22nd. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $170.00 target price on shares of Apple in a report on Wednesday, June 21st. Nomura restated a “buy” rating and set a $165.00 target price on shares of Apple in a report on Wednesday, July 5th. Barclays PLC set a $123.00 target price on Apple and gave the company a “neutral” rating in a report on Wednesday, May 3rd. Finally, Morgan Stanley restated an “overweight” rating and set a $177.00 target price (up from $161.00) on shares of Apple in a report on Wednesday, May 17th. Twelve research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the company. Apple has a consensus rating of “Buy” and an average price target of $167.57.
In other news, insider Daniel J. Riccio sold 11,949 shares of the business’s stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $142.86, for a total value of $1,707,034.14. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Angela J. Ahrendts sold 25,377 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $154.24, for a total value of $3,914,148.48. Following the completion of the transaction, the insider now directly owns 81,936 shares in the company, valued at $12,637,808.64. The disclosure for this sale can be found here. Insiders sold a total of 230,500 shares of company stock worth $35,357,246 over the last three months. 0.08% of the stock is owned by company 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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