Marshall & Sullivan Inc. WA Continues to Hold Position in Apple Inc. (NASDAQ:AAPL)
Marshall & Sullivan Inc. WA held its stake in shares of Apple Inc. (NASDAQ:AAPL) during the first quarter, Holdings Channel reports. The fund owned 4,246 shares of the iPhone maker’s stock at the end of the first quarter. Marshall & Sullivan Inc. WA’s holdings in Apple were worth $659,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. Lumbard & Kellner LLC purchased a new position in Apple during the first quarter worth approximately $1,078,000. Flagship Harbor Advisors LLC boosted its position in Apple by 7.2% in the first quarter. Flagship Harbor Advisors LLC now owns 54,134 shares of the iPhone maker’s stock worth $7,776,000 after buying an additional 3,629 shares during the last quarter. Highbridge Capital Management LLC purchased a new position in Apple during the first quarter worth approximately $370,000. Partners Capital Investment Group Holdings LLC boosted its position in Apple by 7.5% in the first quarter. Partners Capital Investment Group Holdings LLC now owns 163,764 shares of the iPhone maker’s stock worth $23,526,000 after buying an additional 11,408 shares during the last quarter. Finally, Signaturefd LLC boosted its position in Apple by 12.9% in the first quarter. Signaturefd LLC now owns 43,853 shares of the iPhone maker’s stock worth $6,300,000 after buying an additional 5,007 shares during the last quarter. Hedge funds and other institutional investors own 61.13% of the company’s stock.
Apple Inc. (NASDAQ:AAPL) traded up 1.39% during midday trading on Friday, reaching $157.48. The company had a trading volume of 26,257,096 shares. The stock has a market capitalization of $813.42 billion, a PE ratio of 17.88 and a beta of 1.31. The firm’s 50 day moving average is $149.92 and its 200 day moving average is $144.27. Apple Inc. has a 1-year low of $102.53 and a 1-year high of $161.83.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, beating the consensus estimate of $1.57 by $0.10. The business had revenue of $45.41 billion for the quarter, compared to analyst estimates of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.42 earnings per share. On average, equities analysts anticipate that Apple Inc. will post $9.02 EPS for the current fiscal year.
Apple announced that its Board of Directors has initiated a share buyback program on Tuesday, May 2nd that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 6.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
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. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $2.52 annualized dividend and a dividend yield of 1.60%. Apple’s dividend payout ratio is presently 28.64%.
A number of research analysts have recently commented on AAPL shares. Oppenheimer Holdings, Inc. restated a “” rating on shares of Apple in a research note on Thursday. Guggenheim restated a “buy” rating and issued a $180.00 target price on shares of Apple in a research note on Wednesday, April 19th. Macquarie set a $160.00 target price on Apple and gave the company a “buy” rating in a research note on Wednesday, April 19th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $150.00 target price on shares of Apple in a research note on Tuesday, April 18th. Finally, Needham & Company LLC restated a “buy” rating and issued a $165.00 target price on shares of Apple in a research note on Tuesday, April 25th. Twelve equities research 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 stock. Apple currently has a consensus rating of “Buy” and a consensus target price of $167.35.
In related news, insider Daniel J. Riccio sold 11,949 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $155.27, for a total transaction of $1,855,321.23. Following the sale, the insider now owns 23,998 shares in the company, valued at $3,726,169.46. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Luca Maestri sold 4,757 shares of the firm’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders sold 299,911 shares of company stock worth $46,557,634 over the last quarter. Company insiders own 0.08% of the company’s stock.
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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