Highlander Capital Management LLC Has $2 Million Stake in Apple Inc. (NASDAQ:AAPL)
Highlander Capital Management LLC raised its stake in Apple Inc. (NASDAQ:AAPL) by 6.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,938 shares of the iPhone maker’s stock after buying an additional 825 shares during the period. Apple makes up about 1.6% of Highlander Capital Management LLC’s investment portfolio, making the stock its 5th largest position. Highlander Capital Management LLC’s holdings in Apple were worth $2,002,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in AAPL. Saratoga Research & Investment Management raised its stake in Apple by 0.6% in the first quarter. Saratoga Research & Investment Management now owns 667,132 shares of the iPhone maker’s stock worth $95,840,000 after buying an additional 4,137 shares during the last quarter. Pinnacle Bank purchased a new stake in Apple during the first quarter worth $1,924,000. Norges Bank purchased a new stake in Apple during the fourth quarter worth $5,625,709,000. Perigon Wealth Management LLC raised its stake in Apple by 5.9% in the fourth quarter. Perigon Wealth Management LLC now owns 147,469 shares of the iPhone maker’s stock worth $20,613,000 after buying an additional 8,233 shares during the last quarter. Finally, IFM Investors Pty Ltd purchased a new stake in Apple during the fourth quarter worth $7,910,000. 61.13% of the stock is owned by institutional investors and hedge funds.
Apple Inc. (AAPL) traded up 1.39% during mid-day trading on Friday, reaching $157.48. The company had a trading volume of 26,257,096 shares. Apple Inc. has a one year low of $102.53 and a one year high of $161.83. The firm’s 50-day moving average is $149.92 and its 200-day moving average is $144.27. The firm has a market capitalization of $813.42 billion, a P/E ratio of 17.88 and a beta of 1.31.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.10. Apple had a return on equity of 35.40% and a net margin of 20.87%. The company had revenue of $45.41 billion for the quarter, compared to analyst estimates of $44.94 billion. During the same period in the previous year, the firm earned $1.42 earnings per share. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. On average, equities research analysts anticipate that Apple Inc. will post $9.02 earnings per share for the current fiscal year.
Apple declared that its Board of Directors has initiated a stock buyback plan on Tuesday, May 2nd that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Monday, August 14th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Thursday, August 10th. Apple’s dividend payout ratio (DPR) is presently 28.64%.
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AAPL has been the subject of a number of recent analyst reports. UBS AG reaffirmed a “buy” rating and set a $170.00 price target on shares of Apple in a report on Monday, July 31st. Bank of America Corporation reaffirmed a “buy” rating and set a $180.00 price target (up from $155.00) on shares of Apple in a report on Friday, May 12th. Wells Fargo & Company reissued a “market perform” rating and set a $140.00 price objective on shares of Apple in a report on Saturday, July 22nd. Mizuho reissued a “buy” rating and set a $150.00 price objective on shares of Apple in a report on Wednesday, May 3rd. Finally, Goldman Sachs Group, Inc. (The) set a $170.00 price objective on shares of Apple and gave the stock a “buy” rating in a report on Saturday, May 20th. Twelve equities research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $167.35.
In other Apple news, SVP Johny Srouji sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $153.20, for a total value of $1,532,000.00. Following the transaction, the senior vice president now directly owns 96,738 shares of the company’s stock, valued at $14,820,261.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Daniel J. Riccio sold 11,949 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $155.27, for a total value of $1,855,321.23. Following the completion of the transaction, the insider now directly owns 23,998 shares in the company, valued at $3,726,169.46. The disclosure for this sale can be found here. Over the last three months, insiders sold 299,911 shares of company stock worth $46,557,634. Insiders own 0.08% of the company’s stock.
Apple Company Profile
Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.
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