Lindbrook Capital LLC grew its stake in Apple Inc. (NASDAQ:AAPL) by 1.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,953 shares of the iPhone maker’s stock after purchasing an additional 482 shares during the quarter. Apple makes up approximately 2.6% of Lindbrook Capital LLC’s holdings, making the stock its 6th biggest holding. Lindbrook Capital LLC’s holdings in Apple were worth $6,719,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. Monument Capital Management raised its stake in Apple by 2.2% during the second quarter. Monument Capital Management now owns 2,438 shares of the iPhone maker’s stock worth $491,000 after acquiring an additional 53 shares during the period. Rockland Trust Co. raised its stake in Apple by 4.8% during the second quarter. Rockland Trust Co. now owns 20,618 shares of the iPhone maker’s stock worth $4,081,000 after acquiring an additional 948 shares during the period. Pecaut & CO. raised its stake in Apple by 3.0% during the first quarter. Pecaut & CO. now owns 59,894 shares of the iPhone maker’s stock worth $11,377,000 after acquiring an additional 1,725 shares during the period. Founders Capital Management LLC raised its stake in Apple by 164.2% during the fourth quarter. Founders Capital Management LLC now owns 15,120 shares of the iPhone maker’s stock worth $2,385,000 after acquiring an additional 9,396 shares during the period. Finally, Verity & Verity LLC raised its stake in Apple by 1.6% during the second quarter. Verity & Verity LLC now owns 53,515 shares of the iPhone maker’s stock worth $10,592,000 after acquiring an additional 836 shares during the period. Institutional investors and hedge funds own 59.67% of the company’s stock.
In related news, insider Chris Kondo sold 4,376 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $217.47, for a total value of $951,648.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Arthur D. Levinson sold 17,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $214.02, for a total transaction of $3,745,350.00. Following the completion of the transaction, the director now directly owns 1,150,783 shares of the company’s stock, valued at approximately $246,290,577.66. The disclosure for this sale can be found here. Company insiders own 0.05% of the company’s stock.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.10 by $0.08. The firm had revenue of $53.81 billion during the quarter, compared to analysts’ expectations of $53.39 billion. Apple had a net margin of 21.50% and a return on equity of 52.13%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period last year, the firm posted $2.34 earnings per share. As a group, research analysts predict that Apple Inc. will post 11.58 earnings per share for the current fiscal year.
Apple declared that its board has approved a share repurchase program on Tuesday, April 30th that permits the company to repurchase $75.00 billion in shares. This repurchase authorization permits the iPhone maker to reacquire up to 7.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, August 12th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Friday, August 9th. Apple’s payout ratio is 25.86%.
Several research firms recently weighed in on AAPL. Loop Capital increased their price objective on shares of Apple to $200.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. HSBC set a $174.00 price objective on shares of Apple and gave the stock a “sell” rating in a research note on Monday, May 20th. Daiwa Capital Markets set a $223.00 price target on shares of Apple and gave the company a “buy” rating in a research note on Wednesday, August 7th. Barclays assumed coverage on shares of Apple in a research note on Wednesday, August 7th. They issued an “equal weight” rating and a $192.00 price target on the stock. Finally, Morgan Stanley set a $247.00 price target on shares of Apple and gave the company a “buy” rating in a research note on Wednesday, July 31st. Four investment analysts have rated the stock with a sell rating, nineteen have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $217.12.
Apple Company Profile
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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