Conestoga Capital Advisors LLC Has $422,000 Position in Apple Inc. (AAPL)
Conestoga Capital Advisors LLC held its stake in shares of Apple Inc. (NASDAQ:AAPL) during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,930 shares of the iPhone maker’s stock at the end of the second quarter. Conestoga Capital Advisors LLC’s holdings in Apple were worth $422,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Pacific Center for Financial Services purchased a new stake in Apple during the 4th quarter valued at about $1,098,000. Advantage Investment Management LLC purchased a new stake in Apple during the 4th quarter valued at about $4,209,000. Comprehensive Portfolio Management LLC purchased a new stake in Apple during the 4th quarter valued at about $1,197,000. Wills Financial Group Inc. grew its stake in Apple by 2.7% during the 4th quarter. Wills Financial Group Inc. now owns 41,027 shares of the iPhone maker’s stock valued at $4,752,000 after purchasing an additional 1,093 shares during the last quarter. Finally, PagnatoKarp Partners LLC purchased a new stake in Apple during the 4th quarter valued at about $3,442,000. Hedge funds and other institutional investors own 60.45% of the company’s stock.
Shares of Apple Inc. (AAPL) traded down 1.10% during trading on Wednesday, reaching $159.09. 32,323,239 shares of the company’s stock were exchanged. The company has a 50 day moving average of $158.37 and a 200 day moving average of $149.12. Apple Inc. has a 52-week low of $104.08 and a 52-week high of $164.94. The firm has a market capitalization of $821.74 billion, a P/E ratio of 18.06 and a beta of 1.27.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the firm earned $1.42 EPS. The business’s revenue was up 7.2% on a year-over-year basis. Equities analysts anticipate that Apple Inc. will post $9.02 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date was Thursday, August 10th. Apple’s dividend payout ratio (DPR) is presently 28.64%.
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Several analysts have weighed in on AAPL shares. Canaccord Genuity reiterated a “buy” rating and set a $180.00 price target (up previously from $165.00) on shares of Apple in a research note on Tuesday, May 16th. BMO Capital Markets reiterated an “outperform” rating and set a $170.00 price target (up previously from $160.00) on shares of Apple in a research note on Wednesday, May 17th. Morgan Stanley reiterated an “overweight” rating and set a $177.00 price target (up previously from $161.00) on shares of Apple in a research note on Wednesday, May 17th. Vetr upgraded Apple from a “hold” rating to a “buy” rating and set a $159.81 price target on the stock in a research note on Wednesday, May 17th. Finally, Wells Fargo & Company reiterated a “market perform” rating and set a $140.00 price target on shares of Apple in a research note on Friday, May 19th. Eleven research analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the stock. Apple currently has an average rating of “Buy” and an average price target of $169.52.
In other news, Director Arthur D. Levinson sold 35,000 shares of the firm’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP D Bruce Sewell sold 31,625 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $158.13, for a total transaction of $5,000,861.25. Following the transaction, the senior vice president now directly owns 112,430 shares of the company’s stock, valued at $17,778,555.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 432,930 shares of company stock valued at $69,008,577. 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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