Bank of The Ozarks lowered its position in Apple (NASDAQ:AAPL) by 1.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 37,956 shares of the iPhone maker’s stock after selling 586 shares during the period. Apple accounts for approximately 2.4% of Bank of The Ozarks’ portfolio, making the stock its 3rd biggest holding. Bank of The Ozarks’ holdings in Apple were worth $6,423,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Oak Point Wealth Management purchased a new position in Apple in the 4th quarter valued at $163,000. Stuart Chaussee & Associates Inc. lifted its holdings in Apple by 940.8% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 1,072 shares of the iPhone maker’s stock valued at $181,000 after purchasing an additional 969 shares in the last quarter. Interactive Financial Advisors purchased a new position in Apple in the 4th quarter valued at $188,000. Delphi Private Advisors LLC lifted its holdings in Apple by 8,292.9% in the 4th quarter. Delphi Private Advisors LLC now owns 1,175 shares of the iPhone maker’s stock valued at $199,000 after purchasing an additional 1,161 shares in the last quarter. Finally, Financial & Investment Management Group Ltd. purchased a new position in Apple in the 4th quarter valued at $204,000. Institutional investors own 58.19% of the company’s stock.
A number of brokerages have weighed in on AAPL. Maxim Group upgraded Apple from a “hold” rating to a “buy” rating in a report on Thursday. BidaskClub upgraded Apple from a “hold” rating to a “buy” rating in a report on Tuesday. Morgan Stanley restated an “overweight” rating and issued a $214.00 price objective (up previously from $200.00) on shares of Apple in a report on Thursday, May 24th. They noted that the move was a valuation call. Zacks Investment Research raised Apple from a “sell” rating to a “hold” rating in a research note on Thursday, May 3rd. Finally, ValuEngine raised Apple from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, thirty-two have given a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $204.96.
Shares of Apple opened at $186.87 on Friday, according to MarketBeat Ratings. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.46 and a quick ratio of 1.37. The stock has a market capitalization of $953.41 billion, a PE ratio of 20.29, a P/E/G ratio of 1.40 and a beta of 1.26. Apple has a 1 year low of $142.20 and a 1 year high of $190.37.
Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, May 1st. The iPhone maker reported $2.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.69 by $0.04. The business had revenue of $61.14 billion during the quarter, compared to analysts’ expectations of $60.94 billion. Apple had a return on equity of 39.97% and a net margin of 21.55%. The business’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.10 EPS. sell-side analysts expect that Apple will post 11.43 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 17th. Stockholders of record on Monday, May 14th were paid a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Friday, May 11th. This is a boost from Apple’s previous quarterly dividend of $0.63. Apple’s dividend payout ratio (DPR) is presently 31.70%.
Apple announced that its board has authorized a stock repurchase program on Tuesday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to reacquire up to 11.9% of its stock through open market purchases. Stock buyback programs are usually 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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