Iberiabank Corp Increases Holdings in Apple (AAPL)

Iberiabank Corp boosted its position in Apple (NASDAQ:AAPL) by 14.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 54,475 shares of the iPhone maker’s stock after purchasing an additional 6,913 shares during the period. Apple comprises 1.5% of Iberiabank Corp’s portfolio, making the stock its 15th biggest holding. Iberiabank Corp’s holdings in Apple were worth $9,328,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Truepoint Inc. lifted its position in shares of Apple by 15,559.4% during the 3rd quarter. Truepoint Inc. now owns 4,436,774 shares of the iPhone maker’s stock valued at $4,437,000 after buying an additional 4,408,441 shares in the last quarter. Harding Loevner LP lifted its position in shares of Apple by 784,734.3% during the 3rd quarter. Harding Loevner LP now owns 3,296,304 shares of the iPhone maker’s stock valued at $188,966,000 after buying an additional 3,295,884 shares in the last quarter. Atlantic Trust Group LLC lifted its position in shares of Apple by 36.2% during the 3rd quarter. Atlantic Trust Group LLC now owns 3,641,534 shares of the iPhone maker’s stock valued at $561,233,000 after buying an additional 968,385 shares in the last quarter. DnB Asset Management AS lifted its position in shares of Apple by 57.5% during the 4th quarter. DnB Asset Management AS now owns 1,591,868 shares of the iPhone maker’s stock valued at $269,392,000 after buying an additional 581,318 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Apple by 3.1% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 19,262,302 shares of the iPhone maker’s stock valued at $3,259,868,000 after buying an additional 570,279 shares in the last quarter. 60.93% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have recently weighed in on AAPL. Nomura reaffirmed a “neutral” rating and set a $175.00 price objective on shares of Apple in a research report on Monday, March 19th. BidaskClub downgraded Apple from a “hold” rating to a “sell” rating in a research note on Friday, January 26th. BMO Capital Markets downgraded Apple from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $162.00 to $166.00 in a research note on Wednesday, January 31st. William Blair reissued an “outperform” rating on shares of Apple in a research note on Friday, February 2nd. Finally, Bank of America reissued an “outperform” rating and set a $220.00 target price on shares of Apple in a research note on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, thirty-three have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $204.00.

Shares of AAPL stock opened at $186.99 on Friday. Apple has a twelve month low of $185.68 and a twelve month high of $188.37. The firm has a market capitalization of $954.83 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 1.40 and a beta of 1.26. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.46 and a quick ratio of 1.37.

Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, May 1st. The iPhone maker reported $2.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.69 by $0.04. Apple had a return on equity of 39.97% and a net margin of 21.55%. The business had revenue of $61.14 billion during the quarter, compared to analysts’ expectations of $60.94 billion. During the same period in the prior year, the business earned $2.10 EPS. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. equities analysts forecast that Apple will post 11.43 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, May 17th. Shareholders of record on Monday, May 14th were issued a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.56%. This is a boost from Apple’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Friday, May 11th. Apple’s dividend payout ratio is currently 31.70%.

Apple declared that its board has approved a stock buyback program on Tuesday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 11.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

In other Apple news, COO Jeffrey E. Williams sold 15,653 shares of the company’s stock in a transaction on Tuesday, May 8th. The stock was sold at an average price of $185.18, for a total value of $2,898,622.54. Following the completion of the sale, the chief operating officer now directly owns 168,181 shares in the company, valued at approximately $31,143,757.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Philip W. Schiller sold 69,491 shares of the company’s stock in a transaction on Tuesday, April 3rd. The stock was sold at an average price of $166.42, for a total value of $11,564,692.22. The disclosure for this sale can be found here. Insiders sold a total of 214,869 shares of company stock valued at $37,493,244 over the last quarter. Company insiders own 0.08% of the company’s stock.

About Apple

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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