Apple Inc. (AAPL) Shares Bought by Lee Financial Co
Lee Financial Co increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 9.0% in the 1st quarter, Holdings Channel reports. The firm owned 23,292 shares of the iPhone maker’s stock after purchasing an additional 1,929 shares during the period. Apple accounts for 1.0% of Lee Financial Co’s investment portfolio, making the stock its 19th largest holding. Lee Financial Co’s holdings in Apple were worth $3,908,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Marcus Capital LLC grew its stake in Apple by 6.8% during the 1st quarter. Marcus Capital LLC now owns 4,342 shares of the iPhone maker’s stock valued at $729,000 after acquiring an additional 275 shares in the last quarter. Canandaigua National Bank & Trust Co. grew its stake in Apple by 0.5% during the 1st quarter. Canandaigua National Bank & Trust Co. now owns 51,711 shares of the iPhone maker’s stock valued at $8,676,000 after acquiring an additional 280 shares in the last quarter. Chemical Bank grew its stake in Apple by 0.3% during the 4th quarter. Chemical Bank now owns 92,548 shares of the iPhone maker’s stock valued at $15,662,000 after acquiring an additional 299 shares in the last quarter. Spectrum Asset Management Inc. NB CA grew its stake in Apple by 12.3% during the 1st quarter. Spectrum Asset Management Inc. NB CA now owns 2,737 shares of the iPhone maker’s stock valued at $452,000 after acquiring an additional 300 shares in the last quarter. Finally, FTB Advisors Inc. grew its stake in Apple by 0.3% during the 1st quarter. FTB Advisors Inc. now owns 88,110 shares of the iPhone maker’s stock valued at $14,949,000 after acquiring an additional 302 shares in the last quarter. Hedge funds and other institutional investors own 60.11% of the company’s stock.
Several research firms have recently weighed in on AAPL. Macquarie set a $214.00 price target on shares of Apple and gave the company a “buy” rating in a research note on Wednesday. Robert W. Baird reissued a “buy” rating and issued a $230.00 price target on shares of Apple in a research note on Monday, August 13th. Wells Fargo & Co reissued a “neutral” rating and issued a $210.00 price target on shares of Apple in a research note on Friday, August 10th. BidaskClub raised shares of Apple from a “hold” rating to a “buy” rating in a research note on Tuesday, August 7th. Finally, Citigroup increased their price target on shares of Apple from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the company. Apple presently has an average rating of “Buy” and an average price target of $219.51.
NASDAQ:AAPL opened at $217.58 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.31 and a quick ratio of 1.24. The company has a market cap of $1,020.04 billion, a P/E ratio of 23.62, a P/E/G ratio of 1.64 and a beta of 1.16. Apple Inc. has a fifty-two week low of $149.16 and a fifty-two week high of $217.95.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.18 by $0.16. The firm had revenue of $53.27 billion during the quarter, compared to analysts’ expectations of $52.43 billion. Apple had a net margin of 21.98% and a return on equity of 43.50%. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the company posted $1.67 EPS. equities analysts forecast that Apple Inc. will post 11.68 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 16th. Shareholders of record on Monday, August 13th were issued a dividend of $0.73 per share. The ex-dividend date was Friday, August 10th. This represents a $2.92 dividend on an annualized basis and a yield of 1.34%. Apple’s dividend payout ratio (DPR) is presently 31.70%.
Apple announced that its board has initiated a share buyback program on Tuesday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to purchase up to 11.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
Apple Company Profile
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
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