New Capital Management LP Has $2,421,000 Position in Apple Inc. (AAPL)
New Capital Management LP held its stake in Apple Inc. (NASDAQ:AAPL) during the second quarter, Holdings Channel reports. The fund owned 16,851 shares of the iPhone maker’s stock at the end of the second quarter. Apple makes up approximately 4.4% of New Capital Management LP’s holdings, making the stock its 5th largest position. New Capital Management LP’s holdings in Apple were worth $2,421,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the stock. Bank of Nova Scotia Trust Co. boosted its position in shares of Apple by 3.5% in the fourth quarter. Bank of Nova Scotia Trust Co. now owns 54,889 shares of the iPhone maker’s stock worth $6,357,000 after buying an additional 1,839 shares in the last quarter. Mayo Investment Advisers LLC boosted its position in shares of Apple by 4.8% in the fourth quarter. Mayo Investment Advisers LLC now owns 155,725 shares of the iPhone maker’s stock worth $18,036,000 after buying an additional 7,100 shares in the last quarter. Noven Financial Group Inc. boosted its position in shares of Apple by 0.3% in the fourth quarter. Noven Financial Group Inc. now owns 7,396 shares of the iPhone maker’s stock worth $857,000 after buying an additional 22 shares in the last quarter. Azimuth Capital Management LLC boosted its position in shares of Apple by 55.3% in the fourth quarter. Azimuth Capital Management LLC now owns 149,560 shares of the iPhone maker’s stock worth $17,322,000 after buying an additional 53,239 shares in the last quarter. Finally, Marietta Wealth Management LLC acquired a new position in shares of Apple during the fourth quarter worth about $3,826,000. 61.13% of the stock is owned by hedge funds and other institutional investors.
Shares of Apple Inc. (NASDAQ AAPL) traded up 1.39% during mid-day trading on Friday, hitting $157.48. 26,257,096 shares of the stock were exchanged. 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 $813.42 billion, a price-to-earnings ratio of 17.88 and a beta of 1.31. The company has a 50-day moving average price of $149.92 and a 200-day moving average price of $144.27.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $44.94 billion. During the same period last year, the company earned $1.42 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities analysts expect that Apple Inc. will post $9.02 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Monday, August 14th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Thursday, August 10th. Apple’s dividend payout ratio (DPR) is presently 28.64%.
Apple announced that its Board of Directors has initiated a share repurchase program on Tuesday, May 2nd that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the iPhone maker to purchase up to 6.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
Several research analysts recently weighed in on AAPL shares. Keefe, Bruyette & Woods set a $170.00 price target on shares of Apple and gave the stock a “buy” rating in a report on Monday, May 22nd. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $170.00 price target on shares of Apple in a report on Wednesday, June 21st. Nomura restated a “buy” rating and set a $165.00 price target on shares of Apple in a report on Wednesday, July 5th. Barclays PLC set a $123.00 price target on shares of Apple and gave the stock a “neutral” rating in a report on Wednesday, May 3rd. Finally, Morgan Stanley restated an “overweight” rating and set a $177.00 price target (up from $161.00) on shares of Apple in a report on Wednesday, May 17th. Twelve research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average 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 dated Tuesday, May 16th. The stock was sold at an average price of $155.27, for a total transaction of $1,855,321.23. Following the completion of the sale, the insider now directly owns 23,998 shares of the company’s stock, valued at approximately $3,726,169.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Luca Maestri sold 4,757 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $154.70, for a total value of $735,907.90. Following the sale, 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 a total of 299,911 shares of company stock valued at $46,557,634 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.
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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