Texas Yale Capital Corp. cut its holdings in Apple Inc. (NASDAQ:AAPL) by 50.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 52,913 shares of the iPhone maker’s stock after selling 53,113 shares during the period. Apple makes up approximately 0.8% of Texas Yale Capital Corp.’s investment portfolio, making the stock its 18th largest position. Texas Yale Capital Corp.’s holdings in Apple were worth $10,473,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Roanoke Asset Management Corp NY boosted its stake in shares of Apple by 1.1% in the 2nd quarter. Roanoke Asset Management Corp NY now owns 4,412 shares of the iPhone maker’s stock valued at $873,000 after purchasing an additional 50 shares in the last quarter. Monument Capital Management boosted its stake in shares of Apple by 2.2% in the 2nd quarter. Monument Capital Management now owns 2,438 shares of the iPhone maker’s stock valued at $491,000 after purchasing an additional 53 shares in the last quarter. MA Private Wealth boosted its stake in shares of Apple by 0.3% in the 2nd quarter. MA Private Wealth now owns 16,134 shares of the iPhone maker’s stock valued at $3,193,000 after purchasing an additional 56 shares in the last quarter. Weather Gauge Advisory LLC boosted its stake in shares of Apple by 0.4% in the 2nd quarter. Weather Gauge Advisory LLC now owns 15,905 shares of the iPhone maker’s stock valued at $3,148,000 after purchasing an additional 60 shares in the last quarter. Finally, Insight 2811 Inc. boosted its stake in shares of Apple by 1.4% in the 2nd quarter. Insight 2811 Inc. now owns 4,695 shares of the iPhone maker’s stock valued at $960,000 after purchasing an additional 63 shares in the last quarter. Institutional investors and hedge funds own 59.67% of the company’s stock.
A number of equities research analysts have recently weighed in on the stock. Cascend Securities restated a “buy” rating and issued a $240.00 price target (up from $210.00) on shares of Apple in a research note on Thursday, June 20th. 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. Argus raised their price target on shares of Apple to $250.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Credit Suisse Group set a $209.00 price target on shares of Apple and gave the company a “neutral” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. raised their price target on shares of Apple from $239.00 to $243.00 in a research note on Wednesday, July 31st. Four research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $217.12.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.08. Apple had a net margin of 21.50% and a return on equity of 52.13%. The firm had revenue of $53.81 billion during the quarter, compared to analyst estimates of $53.39 billion. During the same quarter last year, the business earned $2.34 EPS. The company’s revenue was up 1.0% compared to the same quarter last year. Equities research analysts expect that Apple Inc. will post 11.58 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, August 12th will be issued a dividend of $0.77 per share. The ex-dividend date is Friday, August 9th. This represents a $3.08 annualized dividend and a yield of 1.47%. Apple’s payout ratio is 25.86%.
Apple announced that its board has authorized a stock repurchase plan on Tuesday, April 30th that authorizes the company to repurchase $75.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 7.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
In other news, Director Arthur D. Levinson sold 17,500 shares of Apple stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $214.02, for a total value of $3,745,350.00. Following the completion of the sale, the director now owns 1,150,783 shares in the company, valued at approximately $246,290,577.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chris Kondo sold 4,376 shares of Apple stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $217.47, for a total transaction of $951,648.72. The disclosure for this sale can be found here. Insiders own 0.05% of the company’s stock.
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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