Apple Inc. (AAPL) Stake Maintained by Harvest Fund Management Co. Ltd
Harvest Fund Management Co. Ltd held its position in shares of Apple Inc. (NASDAQ:AAPL) during the first quarter, according to its most recent disclosure with the SEC. The fund owned 5,743 shares of the iPhone maker’s stock at the end of the first quarter. Harvest Fund Management Co. Ltd’s holdings in Apple were worth $825,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Glacier Peak Capital LLC bought a new position in Apple during the fourth quarter valued at approximately $127,000. Portfolio Solutions LLC bought a new position in Apple during the first quarter valued at approximately $169,000. Odey Holdings AG raised its position in Apple by 27.3% in the fourth quarter. Odey Holdings AG now owns 1,273 shares of the iPhone maker’s stock valued at $147,000 after buying an additional 273 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Apple during the first quarter valued at approximately $201,000. Finally, Stone House Investment Management LLC bought a new position in Apple during the first quarter valued at approximately $225,000. Hedge funds and other institutional investors own 61.13% of the company’s stock.
Apple Inc. (NASDAQ AAPL) opened at 158.81 on Tuesday. Apple Inc. has a 12 month low of $102.53 and a 12 month high of $158.92. The company has a 50-day moving average of $147.04 and a 200-day moving average of $142.60. The company has a market cap of $821.01 billion, a price-to-earnings ratio of 18.03 and a beta of 1.31.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.57 by $0.10. Apple had a return on equity of 35.40% and a net margin of 20.87%. The business had revenue of $45.41 billion during the quarter, compared to analysts’ expectations of $44.94 billion. During the same period in the previous year, the business posted $1.42 earnings per share. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. Analysts predict that Apple Inc. will post $9.00 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Monday, August 14th will be issued a $0.63 dividend. The ex-dividend date is Thursday, August 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.59%. Apple’s dividend payout ratio is 28.64%.
Apple announced that its Board of Directors has approved a share buyback program on Tuesday, May 2nd that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the iPhone maker to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
Several research firms recently commented on AAPL. Keefe, Bruyette & Woods set a $170.00 price target on Apple and gave the stock a “buy” rating in a research report on Monday, May 22nd. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $170.00 price target on shares of Apple in a research report on Wednesday, June 21st. Nomura reiterated a “buy” rating and issued a $165.00 price target on shares of Apple in a research report on Wednesday, July 5th. Barclays PLC set a $123.00 price target on Apple and gave the stock a “neutral” rating in a research report on Wednesday, May 3rd. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $177.00 price target (up previously from $161.00) on shares of Apple in a research report on Wednesday, May 17th. Thirteen research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $167.54.
In related news, insider Daniel J. Riccio sold 11,949 shares of Apple stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $142.86, for a total value of $1,707,034.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Luca Maestri sold 4,757 shares of Apple stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $154.70, for a total value of $735,907.90. Following the completion of the transaction, the insider now directly owns 3,414 shares of the company’s stock, valued at $528,145.80. The disclosure for this sale can be found here. Insiders sold 195,500 shares of company stock valued at $29,971,446 over the last ninety days. 0.08% of the stock is currently owned by company insiders.
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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