Augustine Asset Management Inc. Lowers Position in Apple Inc. (AAPL)
Augustine Asset Management Inc. lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 21.5% during the second quarter, Holdings Channel reports. The firm owned 79,553 shares of the iPhone maker’s stock after selling 21,756 shares during the period. Apple comprises 7.1% of Augustine Asset Management Inc.’s holdings, making the stock its largest position. Augustine Asset Management Inc.’s holdings in Apple were worth $11,457,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in AAPL. Sandhill Capital Partners LLC increased its stake in shares of Apple by 10.9% in the fourth quarter. Sandhill Capital Partners LLC now owns 5,705 shares of the iPhone maker’s stock valued at $661,000 after buying an additional 560 shares during the period. Gratus Capital LLC increased its stake in shares of Apple by 0.6% in the fourth quarter. Gratus Capital LLC now owns 94,884 shares of the iPhone maker’s stock valued at $10,989,000 after buying an additional 535 shares during the period. Scotia Capital Inc. increased its stake in shares of Apple by 10.2% in the fourth quarter. Scotia Capital Inc. now owns 736,525 shares of the iPhone maker’s stock valued at $85,352,000 after buying an additional 68,413 shares during the period. Zurich Insurance Group Ltd FI increased its stake in shares of Apple by 1.6% in the fourth quarter. Zurich Insurance Group Ltd FI now owns 829,824 shares of the iPhone maker’s stock valued at $96,110,000 after buying an additional 12,704 shares during the period. Finally, Ullmann Financial Group Inc. purchased a new stake in shares of Apple during the fourth quarter valued at $220,000. 61.50% of the stock is owned by institutional investors.
Shares of Apple Inc. (NASDAQ:AAPL) traded down 1.25% during midday trading on Thursday, hitting $158.94. 12,478,807 shares of the company’s stock were exchanged. The firm has a market cap of $820.96 billion, a PE ratio of 18.04 and a beta of 1.31. The stock’s 50-day moving average price is $151.25 and its 200 day moving average price is $145.28. Apple Inc. has a one year low of $102.53 and a one year high of $162.51.
Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.10. The firm had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. The company’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.42 EPS. Equities research analysts forecast that Apple Inc. will post $9.02 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Monday, August 14th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.57%. The ex-dividend date is Thursday, August 10th. Apple’s dividend payout ratio (DPR) is 28.64%.
Apple announced that its board has initiated a share repurchase plan on Tuesday, May 2nd that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
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Several brokerages recently issued reports on AAPL. Barclays PLC restated a “hold” rating and issued a $146.00 target price on shares of Apple in a report on Tuesday. BidaskClub upgraded shares of Apple from a “hold” rating to a “buy” rating in a report on Wednesday. Drexel Hamilton restated a “buy” rating and issued a $208.00 target price on shares of Apple in a report on Wednesday, August 9th. Oppenheimer Holdings, Inc. restated a “” rating on shares of Apple in a report on Thursday, August 10th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $150.00 target price (up previously from $120.00) on shares of Apple in a report on Tuesday, August 8th. Twelve investment analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $167.33.
In related news, insider Luca Maestri sold 4,757 shares of the firm’s 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 transaction, the insider now directly owns 3,414 shares in the company, valued at $528,145.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Johny Srouji sold 10,000 shares of the firm’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $153.20, for a total value of $1,532,000.00. Following the transaction, the senior vice president now owns 96,738 shares in the company, valued at $14,820,261.60. The disclosure for this sale can be found here. Insiders sold 287,962 shares of company stock valued at $44,702,313 in the last ninety days. 0.08% of the stock is owned by corporate insiders.
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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