Gemmer Asset Management LLC raised its stake in Apple Inc. (NASDAQ:AAPL) by 75.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,654 shares of the iPhone maker’s stock after buying an additional 5,864 shares during the quarter. Apple comprises about 0.7% of Gemmer Asset Management LLC’s portfolio, making the stock its 25th biggest holding. Gemmer Asset Management LLC’s holdings in Apple were worth $2,702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently bought and sold shares of AAPL. Semmax Financial Advisors Inc. purchased a new stake in shares of Apple during the fourth quarter worth approximately $50,000. Contravisory Investment Management Inc. boosted its holdings in shares of Apple by 30.6% in the fourth quarter. Contravisory Investment Management Inc. now owns 614 shares of the iPhone maker’s stock valued at $97,000 after acquiring an additional 144 shares during the period. INR Advisory Services LLC acquired a new stake in shares of Apple in the fourth quarter valued at approximately $124,000. CKW Financial Group boosted its holdings in shares of Apple by 15.0% in the fourth quarter. CKW Financial Group now owns 807 shares of the iPhone maker’s stock valued at $127,000 after acquiring an additional 105 shares during the period. Finally, Denali Advisors LLC boosted its holdings in shares of Apple by 12.5% in the second quarter. Denali Advisors LLC now owns 900 shares of the iPhone maker’s stock valued at $178,000 after acquiring an additional 100 shares during the period. 58.66% of the stock is currently owned by institutional investors.
In other news, COO Jeffrey E. Williams sold 56,411 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $210.36, for a total value of $11,866,617.96. Following the completion of the transaction, the chief operating officer now owns 151,187 shares in the company, valued at $31,803,697.32. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Arthur D. Levinson sold 35,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $210.86, for a total value of $7,380,100.00. Following the completion of the transaction, the director now owns 1,168,283 shares of the company’s stock, valued at approximately $246,344,153.38. The disclosure for this sale can be found here. 0.05% of the stock is currently owned by company insiders.
Apple stock opened at $216.75 on Wednesday. Apple Inc. has a one year low of $142.00 and a one year high of $233.47. The company has a current ratio of 1.32, a quick ratio of 1.26 and a debt-to-equity ratio of 0.85. The firm has a fifty day simple moving average of $201.66. The firm has a market capitalization of $955.83 billion, a P/E ratio of 17.53, a P/E/G ratio of 1.76 and a beta of 1.23.
Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.08. Apple had a return on equity of 51.29% and a net margin of 22.12%. The company had revenue of $53.81 billion during the quarter, compared to the consensus estimate of $53.39 billion. During the same quarter last year, the company earned $2.34 earnings per share. Apple’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, equities analysts anticipate that Apple Inc. will post 11.47 EPS for the current fiscal year.
Apple declared that its Board of Directors has authorized a share repurchase plan 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 stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, August 12th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 1.42%. Apple’s dividend payout ratio (DPR) 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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