Apple Inc. (AAPL) Stake Increased by TRB Advisors LP
TRB Advisors LP increased its position in Apple Inc. (NASDAQ:AAPL) by 16.7% during the first quarter, Holdings Channel reports. The firm owned 17,500 shares of the iPhone maker’s stock after buying an additional 2,500 shares during the period. Apple comprises about 3.8% of TRB Advisors LP’s investment portfolio, making the stock its 3rd largest position. TRB Advisors LP’s holdings in Apple were worth $2,514,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Norges Bank bought a new stake in Apple during the fourth quarter worth approximately $5,625,709,000. Franklin Resources Inc. boosted its stake in Apple by 4.8% in the fourth quarter. Franklin Resources Inc. now owns 25,455,705 shares of the iPhone maker’s stock worth $2,948,422,000 after buying an additional 1,156,639 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Apple by 2.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 17,637,648 shares of the iPhone maker’s stock worth $2,533,825,000 after buying an additional 471,057 shares during the period. Fisher Asset Management LLC boosted its stake in Apple by 1.2% in the first quarter. Fisher Asset Management LLC now owns 11,638,395 shares of the iPhone maker’s stock worth $1,671,972,000 after buying an additional 140,368 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in Apple by 23.2% in the first quarter. Canada Pension Plan Investment Board now owns 9,289,482 shares of the iPhone maker’s stock worth $1,334,527,000 after buying an additional 1,749,797 shares during the period. 61.13% of the stock is currently owned by institutional investors.
Apple Inc. (NASDAQ:AAPL) traded up 1.31% during mid-day trading on Friday, reaching $157.36. 11,566,478 shares of the company’s stock traded hands. Apple Inc. has a 52 week low of $102.53 and a 52 week high of $161.83. The stock’s 50 day moving average is $149.58 and its 200-day moving average is $144.00. The stock has a market capitalization of $812.80 billion, a PE ratio of 17.87 and a beta of 1.31. Apple also was the recipient of some unusual options trading activity on Tuesday. Investors acquired 139,415 put options on the stock. This is an increase of approximately 119% compared to the typical volume of 63,733 put options.
Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.10. Apple had a net margin of 20.87% and a return on equity of 35.40%. The firm had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. During the same quarter in the previous year, the company posted $1.42 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities analysts anticipate that Apple Inc. will post $9.02 EPS for the current year.
Apple declared that its board has approved a share buyback plan on Tuesday, May 2nd that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the iPhone maker to reacquire up to 6.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Monday, August 14th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.62%. The ex-dividend date is Thursday, August 10th. Apple’s payout ratio is 28.64%.
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AAPL has been the topic of a number of research reports. Drexel Hamilton reaffirmed a “buy” rating and issued a $202.00 price target on shares of Apple in a report on Thursday, July 6th. Instinet reaffirmed a “buy” rating and issued a $165.00 price target on shares of Apple in a report on Wednesday, July 5th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $168.00 price target on shares of Apple in a report on Tuesday, June 6th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $170.00 price target on shares of Apple in a report on Tuesday, July 25th. Finally, Macquarie boosted their target price on shares of Apple from $170.00 to $180.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. Twelve analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $167.35.
In related news, insider Daniel J. Riccio sold 11,949 shares of the business’s stock in a transaction dated Thursday, July 6th. The shares were 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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arthur D. Levinson sold 35,000 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $157.58, for a total transaction of $5,515,300.00. Following the completion of the transaction, the director now directly owns 1,168,283 shares of the company’s stock, valued at approximately $184,098,035.14. The disclosure for this sale can be found here. Insiders sold a total of 299,911 shares of company stock valued at $46,557,634 in the last three months. 0.08% of the stock is currently owned by corporate 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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