Lourd Capital LLC raised its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,577 shares of the iPhone maker’s stock after purchasing an additional 1,011 shares during the period. Apple makes up approximately 0.5% of Lourd Capital LLC’s holdings, making the stock its 11th largest holding. Lourd Capital LLC’s holdings in Apple were worth $5,854,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Centaurus Financial Inc. boosted its holdings in Apple by 17.9% in the 1st quarter. Centaurus Financial Inc. now owns 8,318 shares of the iPhone maker’s stock worth $44,000 after buying an additional 1,262 shares during the period. Semmax Financial Advisors Inc. bought a new position in Apple in the 4th quarter worth $50,000. INR Advisory Services LLC bought a new position in Apple in the 4th quarter worth $124,000. CKW Financial Group boosted its holdings in Apple by 15.0% in the 4th quarter. CKW Financial Group now owns 807 shares of the iPhone maker’s stock worth $127,000 after buying an additional 105 shares during the period. Finally, Denali Advisors LLC boosted its holdings in Apple by 12.5% in the 2nd quarter. Denali Advisors LLC now owns 900 shares of the iPhone maker’s stock worth $178,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 59.67% of the company’s stock.
In other Apple news, insider Chris Kondo sold 4,376 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $217.47, for a total value of $951,648.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arthur D. Levinson sold 17,500 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $201.69, for a total value of $3,529,575.00. Following the completion of the transaction, the director now directly owns 1,150,783 shares of the company’s stock, valued at approximately $232,101,423.27. The disclosure for this sale can be found here. Insiders have sold a total of 39,376 shares of company stock valued at $8,226,574 in the last three months. 0.05% of the stock is owned by insiders.
NASDAQ:AAPL opened at $201.74 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.47 and a current ratio of 1.50. Apple Inc. has a fifty-two week low of $142.00 and a fifty-two week high of $233.47. The company has a market cap of $944.37 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 1.76 and a beta of 1.25. The stock has a fifty day moving average price of $203.69 and a 200-day moving average price of $191.64.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $53.39 billion. During the same quarter in the previous year, the firm earned $2.34 EPS. Apple’s revenue was up 1.0% on a year-over-year basis. Research analysts predict that Apple Inc. will post 11.58 EPS for the current fiscal year.
Apple declared that its Board of Directors has initiated 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 an indication that the company’s leadership believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were issued a dividend of $0.77 per share. The ex-dividend date was Friday, August 9th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.53%. Apple’s dividend payout ratio (DPR) is currently 25.86%.
AAPL has been the subject of several recent analyst reports. Daiwa Capital Markets set a $223.00 target price on shares of Apple and gave the stock a “buy” rating in a report on Wednesday, August 7th. Bank of America increased their price target on shares of Apple from $230.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Sanford C. Bernstein reaffirmed a “neutral” rating and set a $205.00 target price on shares of Apple in a research report on Wednesday, July 31st. Nomura lifted their price objective on shares of Apple from $180.00 to $185.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, Piper Jaffray Companies lifted their price objective on shares of Apple from $230.00 to $243.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $216.11.
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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