James Investment Research Inc. lifted its stake in Apple Inc. (NASDAQ:AAPL) by 1.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 136,411 shares of the iPhone maker’s stock after purchasing an additional 1,414 shares during the quarter. Apple comprises about 2.0% of James Investment Research Inc.’s holdings, making the stock its 7th largest holding. James Investment Research Inc.’s holdings in Apple were worth $26,999,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Fisher Asset Management LLC grew its position in Apple by 3.4% in the fourth quarter. Fisher Asset Management LLC now owns 12,766,487 shares of the iPhone maker’s stock worth $2,013,786,000 after acquiring an additional 417,421 shares during the period. Amundi Pioneer Asset Management Inc. grew its position in Apple by 4.3% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 10,155,585 shares of the iPhone maker’s stock worth $1,929,054,000 after acquiring an additional 414,856 shares during the period. Thoroughbred Financial Services LLC grew its position in Apple by 19,949.3% in the second quarter. Thoroughbred Financial Services LLC now owns 10,055,128 shares of the iPhone maker’s stock worth $1,005,513,000 after acquiring an additional 10,004,976 shares during the period. Sanders Capital LLC grew its position in Apple by 3.0% in the second quarter. Sanders Capital LLC now owns 8,376,114 shares of the iPhone maker’s stock worth $1,815,725,000 after acquiring an additional 241,940 shares during the period. Finally, Clearbridge Investments LLC boosted its position in shares of Apple by 4.0% during the first quarter. Clearbridge Investments LLC now owns 7,652,260 shares of the iPhone maker’s stock worth $1,453,547,000 after buying an additional 295,102 shares during the period. 59.67% of the stock is owned by hedge funds and other institutional investors.
In other Apple news, Director Arthur D. Levinson sold 17,500 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $214.02, for a total value of $3,745,350.00. Following the sale, the director now directly owns 1,150,783 shares in the company, valued at $246,290,577.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Chris Kondo sold 4,376 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $217.47, for a total value of $951,648.72. The disclosure for this sale can be found here. 0.05% of the stock is owned by company insiders.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.10 by $0.08. Apple had a return on equity of 52.13% and a net margin of 21.50%. The company had revenue of $53.81 billion for the quarter, compared to analysts’ expectations of $53.39 billion. During the same period last year, the firm earned $2.34 earnings per share. Apple’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, analysts anticipate that Apple Inc. will post 11.58 earnings per share for the current year.
Apple announced that its board has authorized a share buyback plan on Tuesday, April 30th that allows the company to repurchase $75.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to purchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, August 12th will be paid a $0.77 dividend. 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 dividend payout ratio is presently 25.86%.
Several research analysts have recently commented on AAPL shares. DA Davidson raised their price target on Apple to $270.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Evercore ISI started coverage on Apple in a research report on Thursday, June 6th. They set an “outperform” rating and a $205.00 price target for the company. UBS Group raised their price target on Apple from $225.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Maxim Group lowered their price target on Apple to $211.00 and set a “hold” rating for the company in a research report on Wednesday, July 31st. Finally, Bank of America raised their price target on Apple from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Four analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Apple currently has a consensus rating of “Hold” and an average target price of $217.12.
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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