Apple Inc. (NASDAQ:AAPL) Stake Boosted by Marsico Capital Management LLC
Marsico Capital Management LLC boosted its position in Apple Inc. (NASDAQ:AAPL) by 232.4% during the first quarter, Holdings Channel reports. The institutional investor owned 261,430 shares of the iPhone maker’s stock after buying an additional 182,791 shares during the period. Apple comprises 1.6% of Marsico Capital Management LLC’s holdings, making the stock its 17th largest position. Marsico Capital Management LLC’s holdings in Apple were worth $37,557,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently made changes to their positions in AAPL. Saratoga Research & Investment Management boosted its position in shares of Apple by 0.6% in the first quarter. Saratoga Research & Investment Management now owns 667,132 shares of the iPhone maker’s stock worth $95,840,000 after buying an additional 4,137 shares in the last quarter. Pinnacle Bank purchased a new position in shares of Apple during the first quarter worth $1,924,000. Norges Bank purchased a new position in shares of Apple during the fourth quarter worth $5,625,709,000. Perigon Wealth Management LLC boosted its position in shares of Apple by 5.9% in the fourth quarter. Perigon Wealth Management LLC now owns 147,469 shares of the iPhone maker’s stock worth $20,613,000 after buying an additional 8,233 shares in the last quarter. Finally, IFM Investors Pty Ltd purchased a new position in shares of Apple during the fourth quarter worth $7,910,000. 61.13% of the stock is currently owned by institutional investors.
Shares of Apple Inc. (NASDAQ:AAPL) traded up 1.58% during midday trading on Friday, reaching $157.77. 10,627,524 shares of the company’s stock traded hands. Apple Inc. has a one year low of $102.53 and a one year high of $161.83. The firm has a market capitalization of $814.92 billion, a PE ratio of 17.91 and a beta of 1.31. The stock’s 50-day moving average price is $149.58 and its 200 day moving average price is $144.00. Apple also saw some unusual options trading on Tuesday. Stock traders acquired 139,415 put options on the stock. This represents an increase of approximately 119% compared to the typical daily volume of 63,733 put options.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $45.41 billion for the quarter, compared to analyst estimates of $44.94 billion. During the same quarter in the prior year, the firm posted $1.42 EPS. Apple’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts expect that Apple Inc. will post $9.02 earnings per share for the current fiscal year.
Apple announced that its board has authorized a share repurchase program on Tuesday, May 2nd that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to buy up to 6.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
The business 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 dividend of $0.63 per share. The ex-dividend date is Thursday, August 10th. This represents a $2.52 annualized dividend and a yield of 1.62%. Apple’s payout ratio is presently 28.64%.
ILLEGAL ACTIVITY WARNING: This piece was reported by Daily Political and is owned by of Daily Political. If you are viewing this piece on another website, it was illegally stolen and republished in violation of United States and international trademark & copyright laws. The legal version of this piece can be viewed at https://www.dailypolitical.com/2017/08/11/apple-inc-nasdaqaapl-stake-boosted-by-marsico-capital-management-llc.html.
A number of equities analysts have recently weighed in on AAPL shares. UBS AG reissued a “buy” rating and set a $170.00 price target on shares of Apple in a research report on Monday, July 31st. Bank of America Corporation reissued a “buy” rating and set a $180.00 price target (up from $155.00) on shares of Apple in a research report on Friday, May 12th. Wells Fargo & Company reissued a “market perform” rating and set a $140.00 price target on shares of Apple in a research report on Saturday, July 22nd. Mizuho reissued a “buy” rating and set a $150.00 price target on shares of Apple in a research report on Wednesday, May 3rd. Finally, Goldman Sachs Group, Inc. (The) set a $170.00 price target on shares of Apple and gave the stock a “buy” rating in a research report on Saturday, May 20th. Twelve research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $167.35.
In related news, insider Luca Maestri sold 4,757 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $154.70, for a total transaction of $735,907.90. Following the sale, the insider now owns 3,414 shares in the company, valued at approximately $528,145.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Arthur D. Levinson sold 35,000 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $157.58, for a total value of $5,515,300.00. Following the sale, the director now owns 1,168,283 shares in the company, valued at approximately $184,098,035.14. The disclosure for this sale can be found here. Insiders have sold a total of 299,911 shares of company stock worth $46,557,634 in the last 90 days. 0.08% of the stock is currently owned by 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.
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL).
Receive News & Ratings for Apple Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Inc. and related companies with MarketBeat.com's FREE daily email newsletter.