Apple Inc. (AAPL) Position Raised by Valmark Advisers Inc.
Valmark Advisers Inc. increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 5.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,587 shares of the iPhone maker’s stock after purchasing an additional 438 shares during the period. Valmark Advisers Inc.’s holdings in Apple were worth $1,237,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. Hefty Wealth Partners grew its position in Apple by 27.6% in the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after buying an additional 174 shares during the last quarter. American Beacon Advisors Inc. acquired a new position in Apple in the first quarter worth approximately $117,000. State of Alaska Department of Revenue acquired a new position in Apple in the second quarter worth approximately $149,000. D. Scott Neal Inc. grew its position in Apple by 19.8% in the second quarter. D. Scott Neal Inc. now owns 1,212 shares of the iPhone maker’s stock worth $175,000 after buying an additional 200 shares during the last quarter. Finally, Advocacy Wealth Management Services LLC grew its position in Apple by 4.0% in the second quarter. Advocacy Wealth Management Services LLC now owns 1,337 shares of the iPhone maker’s stock worth $193,000 after buying an additional 52 shares during the last quarter. 60.38% of the stock is currently owned by hedge funds and other institutional investors.
AAPL has been the topic of several recent research reports. J P Morgan Chase & Co set a $165.00 price target on shares of Apple and gave the stock a “buy” rating in a research report on Wednesday, July 19th. UBS AG restated a “buy” rating and issued a $170.00 price target on shares of Apple in a research report on Friday, July 21st. Guggenheim restated a “buy” rating and issued a $180.00 price target on shares of Apple in a research report on Friday, July 21st. Wells Fargo & Company restated a “market perform” rating and issued a $140.00 price target on shares of Apple in a research report on Saturday, July 22nd. Finally, Loop Capital initiated coverage on shares of Apple in a research report on Monday, July 24th. They issued a “buy” rating and a $172.00 price target on the stock. Seven analysts have rated the stock with a hold rating and forty-six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $200.12.
In related news, insider Philip W. Schiller sold 56,808 shares of Apple stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $154.70, for a total transaction of $8,788,197.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Angela J. Ahrendts sold 63,388 shares of the business’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $154.21, for a total transaction of $9,775,063.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 394,711 shares of company stock worth $62,660,786. 0.08% of the stock is owned by corporate insiders.
Shares of Apple Inc. (NASDAQ AAPL) opened at $169.08 on Thursday. The company has a current ratio of 1.28, a quick ratio of 1.23 and a debt-to-equity ratio of 0.73. Apple Inc. has a 1-year low of $106.60 and a 1-year high of $176.24. The stock has a market cap of $879,713.00, a P/E ratio of 18.62, a P/E/G ratio of 1.38 and a beta of 1.23.
Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, topping the consensus estimate of $1.87 by $0.20. Apple had a net margin of 21.09% and a return on equity of 36.29%. The business had revenue of $52.58 billion for the quarter, compared to the consensus estimate of $50.71 billion. During the same period last year, the company earned $1.50 EPS. The firm’s revenue was up 12.2% compared to the same quarter last year. research analysts anticipate that Apple Inc. will post 11.15 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Investors of record on Monday, November 13th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, November 10th. This represents a $2.52 annualized dividend and a yield of 1.49%. Apple’s dividend payout ratio is presently 27.39%.
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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