HighVista Strategies LLC Has $4.67 Million Stake in Apple Inc. (NASDAQ:AAPL)
HighVista Strategies LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 30.4% during the first quarter, Holdings Channel reports. The fund owned 32,500 shares of the iPhone maker’s stock after selling 14,200 shares during the period. Apple accounts for about 1.0% of HighVista Strategies LLC’s holdings, making the stock its 23rd largest position. HighVista Strategies LLC’s holdings in Apple were worth $4,669,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in AAPL. Stonehearth Capital Management LLC boosted its position in Apple by 0.8% in the first quarter. Stonehearth Capital Management LLC now owns 2,378 shares of the iPhone maker’s stock valued at $342,000 after buying an additional 20 shares in the last quarter. Noven Financial Group Inc. boosted its position in Apple by 0.3% in the fourth quarter. Noven Financial Group Inc. now owns 7,396 shares of the iPhone maker’s stock valued at $857,000 after buying an additional 22 shares in the last quarter. Sippican Capital Advisors boosted its position in Apple by 0.5% in the first quarter. Sippican Capital Advisors now owns 4,912 shares of the iPhone maker’s stock valued at $706,000 after buying an additional 26 shares in the last quarter. Cordasco Financial Network boosted its position in Apple by 1.0% in the first quarter. Cordasco Financial Network now owns 3,184 shares of the iPhone maker’s stock valued at $457,000 after buying an additional 31 shares in the last quarter. Finally, Wall Street Access Asset Management LLC boosted its position in 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 valued at $2,124,000 after buying an additional 50 shares in the last quarter. Institutional investors own 61.13% of the company’s stock.
Apple Inc. (AAPL) traded down 1.0003% on Thursday, hitting $158.8252. The company had a trading volume of 7,881,782 shares. The firm’s 50 day moving average price is $149.31 and its 200 day moving average price is $143.92. Apple Inc. has a 12-month low of $102.53 and a 12-month high of $161.83. The stock has a market cap of $820.37 billion, a P/E ratio of 18.0319 and a beta of 1.31. Apple also saw some unusual options trading on Tuesday. Stock investors purchased 139,415 put options on the stock. This is an increase of 119% compared to the typical daily volume of 63,733 put options.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.10. The company 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%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the business posted $1.42 earnings per share. Equities analysts predict that Apple Inc. will post $9.02 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Monday, August 14th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Thursday, August 10th. Apple’s dividend payout ratio is currently 28.64%.
Apple announced that its Board of Directors has initiated a stock buyback plan on Tuesday, May 2nd that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to purchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
Several equities analysts have issued reports on the stock. Drexel Hamilton restated a “buy” rating and set a $208.00 target price on shares of Apple in a research note on Wednesday. Royal Bank Of Canada restated an “outperform” rating and set a $160.08 target price (down previously from $176.00) on shares of Apple in a research note on Wednesday. UBS AG reiterated a “buy” rating on shares of Apple in a research note on Tuesday. Rosenblatt Securities reiterated a “neutral” rating and issued a $150.00 price objective (up previously from $120.00) on shares of Apple in a research note on Tuesday. Finally, Vetr cut shares of Apple from a “buy” rating to a “hold” rating and set a $164.42 price objective on the stock. in a research note on Monday. Thirteen analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Apple presently has a consensus rating of “Buy” and a consensus price target of $167.32.
In other news, Director Arthur D. Levinson sold 35,000 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $157.58, for a total value of $5,515,300.00. Following the sale, the director now directly owns 1,168,283 shares of the company’s stock, valued at $184,098,035.14. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Craig Federighi sold 64,500 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $153.62, for a total value of $9,908,490.00. Following the completion of the sale, the insider now directly owns 447,151 shares in the company, valued at $68,691,336.62. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 299,911 shares of company stock worth $46,557,634. 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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