Brown Advisory Securities LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 133,263 shares of the iPhone maker’s stock after selling 3,259 shares during the period. Apple comprises 4.7% of Brown Advisory Securities LLC’s holdings, making the stock its largest position. Brown Advisory Securities LLC’s holdings in Apple were worth $19,128,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in AAPL. Norges Bank acquired a new position in Apple during the fourth quarter worth about $5,625,709,000. Glenview Capital Management LLC acquired a new position in Apple during the fourth quarter worth about $365,191,000. Canada Pension Plan Investment Board increased its position in Apple by 23.2% in the first quarter. Canada Pension Plan Investment Board now owns 9,289,482 shares of the iPhone maker’s stock worth $1,334,527,000 after buying an additional 1,749,797 shares in the last quarter. Flinton Capital Management LLC acquired a new position in Apple during the fourth quarter worth about $169,077,000. Finally, Tyers Asset Management LLC acquired a new position in Apple during the fourth quarter worth about $139,240,000. 61.13% of the stock is currently owned by hedge funds and other institutional investors.
Apple Inc. (NASDAQ:AAPL) traded down 1.04% on Thursday, hitting $158.76. 7,700,597 shares of the stock were exchanged. The company’s 50 day moving average price is $149.31 and its 200-day moving average price is $143.92. The company has a market cap of $820.03 billion, a P/E ratio of 18.02 and a beta of 1.31. Apple Inc. has a one year low of $102.53 and a one year high of $161.83. Apple also was the target of unusually large options trading activity on Tuesday. Investors purchased 139,415 put options on the stock. This represents an increase of approximately 119% compared to the typical daily volume of 63,733 put options.
Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.10. The business had revenue of $45.41 billion for 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%. Apple’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the company posted $1.42 earnings per share. Equities research analysts predict that Apple Inc. will post $9.02 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Monday, August 14th will be paid 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 1.56%. Apple’s payout ratio is 28.64%.
Apple declared that its Board of Directors has initiated a share buyback plan on Tuesday, May 2nd that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the iPhone maker to repurchase up to 6.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.
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A number of research analysts recently issued reports on the stock. Drexel Hamilton restated a “buy” rating and set a $208.00 target price on shares of Apple in a research report on Wednesday. Royal Bank Of Canada restated an “outperform” rating and set a $160.08 target price (down from $176.00) on shares of Apple in a research report on Wednesday. UBS AG restated a “buy” rating on shares of Apple in a research report on Tuesday. Rosenblatt Securities restated a “neutral” rating and set a $150.00 target price (up from $120.00) on shares of Apple in a research report on Tuesday. Finally, Vetr downgraded shares of Apple from a “buy” rating to a “hold” rating and set a $164.42 price objective for the company. in a research report on Monday. Thirteen investment analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Apple currently has a consensus rating of “Buy” and an average target price of $167.32.
In other Apple news, Director Arthur D. Levinson sold 35,000 shares of Apple stock in a transaction on Monday, August 7th. The stock was 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 $184,098,035.14. 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 Apple stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $154.70, for a total value of $735,907.90. Following the transaction, 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. In the last 90 days, insiders sold 299,911 shares of company stock worth $46,557,634. 0.08% of the stock is currently 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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