M&R Capital Management Inc. reduced its stake in Apple Inc. (NASDAQ:AAPL) by 1.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,883 shares of the iPhone maker’s stock after selling 1,069 shares during the period. Apple makes up about 4.1% of M&R Capital Management Inc.’s investment portfolio, making the stock its 2nd biggest holding. M&R Capital Management Inc.’s holdings in Apple were worth $18,183,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Monument Capital Management increased its holdings in 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. Rockland Trust Co. boosted its position in Apple by 4.8% in the 2nd quarter. Rockland Trust Co. now owns 20,618 shares of the iPhone maker’s stock valued at $4,081,000 after buying an additional 948 shares during the last quarter. Pecaut & CO. boosted its position in Apple by 3.0% in the 1st quarter. Pecaut & CO. now owns 59,894 shares of the iPhone maker’s stock valued at $11,377,000 after buying an additional 1,725 shares during the last quarter. Founders Capital Management LLC boosted its position in Apple by 164.2% in the 4th quarter. Founders Capital Management LLC now owns 15,120 shares of the iPhone maker’s stock valued at $2,385,000 after buying an additional 9,396 shares during the last quarter. Finally, Verity & Verity LLC boosted its position in Apple by 1.6% in the 2nd quarter. Verity & Verity LLC now owns 53,515 shares of the iPhone maker’s stock valued at $10,592,000 after buying an additional 836 shares during the last quarter. Hedge funds and other institutional investors own 59.67% of the company’s stock.
In other Apple news, Director Arthur D. Levinson sold 17,500 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 1,150,783 shares in the company, valued at $246,290,577.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $951,648.72. The disclosure for this sale can be found here. 0.05% of the stock is currently owned by company insiders.
Shares of NASDAQ:AAPL opened at $208.97 on Wednesday. The company has a 50 day moving average price of $203.54. Apple Inc. has a 52 week low of $142.00 and a 52 week high of $233.47. The firm has a market capitalization of $908.31 billion, a price-to-earnings ratio of 17.55, a P/E/G ratio of 1.69 and a beta of 1.25. The company has a quick ratio of 1.47, a current ratio of 1.50 and a debt-to-equity ratio of 0.88.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 EPS for the quarter, beating 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 company had revenue of $53.81 billion for the quarter, compared to analyst estimates of $53.39 billion. During the same quarter last year, the business earned $2.34 earnings per share. Apple’s revenue was up 1.0% compared to the same quarter last year. Sell-side analysts anticipate that Apple Inc. will post 11.58 EPS for the current fiscal year.
Apple announced that its Board of Directors has approved a stock repurchase plan on Tuesday, April 30th that permits the company to repurchase $75.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to reacquire up to 7.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
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 paid a $0.77 dividend. The ex-dividend date is Friday, August 9th. This represents a $3.08 annualized dividend and a dividend yield of 1.47%. Apple’s payout ratio is currently 25.86%.
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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