Raub Brock Capital Management LP increased its position in Apple Inc. (NASDAQ:AAPL) by 63.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,798 shares of the iPhone maker’s stock after buying an additional 699 shares during the quarter. Raub Brock Capital Management LP’s holdings in Apple were worth $356,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of AAPL. Kiley Juergens Wealth Management LLC boosted its holdings in Apple by 1.1% in the fourth quarter. Kiley Juergens Wealth Management LLC now owns 44,530 shares of the iPhone maker’s stock valued at $7,024,000 after acquiring an additional 494 shares in the last quarter. Rockland Trust Co. boosted its holdings in shares of Apple by 4.8% during the 2nd quarter. Rockland Trust Co. now owns 20,618 shares of the iPhone maker’s stock valued at $4,081,000 after buying an additional 948 shares in the last quarter. CKW Financial Group boosted its holdings in shares of Apple by 15.0% during the 4th quarter. CKW Financial Group now owns 807 shares of the iPhone maker’s stock valued at $127,000 after buying an additional 105 shares in the last quarter. Pecaut & CO. boosted its holdings in shares of Apple by 3.0% during the 1st quarter. Pecaut & CO. now owns 59,894 shares of the iPhone maker’s stock valued at $11,377,000 after buying an additional 1,725 shares in the last quarter. Finally, Founders Capital Management LLC boosted its holdings in shares of Apple by 164.2% during the 4th quarter. Founders Capital Management LLC now owns 15,120 shares of the iPhone maker’s stock valued at $2,385,000 after buying an additional 9,396 shares in the last quarter. 58.66% of the stock is currently owned by institutional investors.
In other Apple news, Director Arthur D. Levinson sold 35,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jeffrey E. Williams sold 56,411 shares of the business’s stock in a transaction dated 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 directly owns 151,187 shares of the company’s stock, valued at approximately $31,803,697.32. The disclosure for this sale can be found here. 0.05% of the stock is currently owned by insiders.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.10 by $0.08. Apple had a return on equity of 51.29% and a net margin of 22.12%. The business had revenue of $53.81 billion during the quarter, compared to analyst estimates 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. On average, sell-side analysts anticipate that Apple Inc. will post 11.47 EPS for the current year.
Apple declared that its Board of Directors has authorized a share buyback program on Tuesday, April 30th that allows the company to repurchase $75.00 billion in shares. This repurchase authorization allows 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 board believes its shares are 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 given 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 25.86%.
A number of analysts have recently commented on AAPL shares. BidaskClub upgraded shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, June 20th. Nomura boosted their target price on shares of Wyndham Destinations from $55.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday. Monness Crespi & Hardt restated a “buy” rating and set a $265.00 target price (up previously from $245.00) on shares of Apple in a report on Wednesday. Canaccord Genuity boosted their target price on shares of Zendesk from $100.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Jefferies Financial Group boosted their target price on shares of EXACT Sciences from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Four research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $217.32.
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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