Klingman & Associates LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 216,652 shares of the iPhone maker’s stock after selling 6,199 shares during the quarter. Apple accounts for approximately 2.5% of Klingman & Associates LLC’s holdings, making the stock its 12th biggest holding. Klingman & Associates LLC’s holdings in Apple were worth $28,150,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. MKT Advisors LLC increased its position in shares of Apple by 0.5% in the second quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock worth $1,777,000 after purchasing an additional 60 shares during the period. Silver Oak Advisory Group Inc. grew its position in Apple by 1.8% in the second quarter. Silver Oak Advisory Group Inc. now owns 3,925 shares of the iPhone maker’s stock valued at $537,000 after acquiring an additional 69 shares during the last quarter. 3D L Capital Management LLC boosted its stake in shares of Apple by 2.9% during the first quarter. 3D L Capital Management LLC now owns 2,445 shares of the iPhone maker’s stock valued at $427,000 after purchasing an additional 70 shares in the last quarter. Weik Capital Management boosted its stake in shares of Apple by 0.3% during the first quarter. Weik Capital Management now owns 25,238 shares of the iPhone maker’s stock valued at $4,407,000 after purchasing an additional 70 shares in the last quarter. Finally, Coyle Financial Counsel LLC boosted its stake in shares of Apple by 0.3% during the second quarter. Coyle Financial Counsel LLC now owns 26,125 shares of the iPhone maker’s stock valued at $3,572,000 after purchasing an additional 71 shares in the last quarter. Institutional investors own 57.60% of the company’s stock.
Insider Buying and Selling
In other Apple news, insider Chris Kondo sold 4,092 shares of the firm’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $173.26, for a total transaction of $708,979.92. Following the transaction, the insider now directly owns 33,946 shares in the company, valued at approximately $5,881,483.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Timothy D. Cook sold 56,072 shares of Apple stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $165.17, for a total value of $9,261,412.24. Following the transaction, the chief executive officer now directly owns 3,280,052 shares in the company, valued at approximately $541,766,188.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chris Kondo sold 4,092 shares of the firm’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $173.26, for a total value of $708,979.92. Following the completion of the sale, the insider now directly owns 33,946 shares of the company’s stock, valued at approximately $5,881,483.96. The disclosure for this sale can be found here. In the last three months, insiders sold 439,529 shares of company stock valued at $71,703,657. Insiders own 0.06% of the company’s stock.
Apple Price Performance
Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings results on Thursday, May 4th. The iPhone maker reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.08. The company had revenue of $94.84 billion during the quarter, compared to analyst estimates of $92.84 billion. Apple had a return on equity of 165.72% and a net margin of 24.49%. The firm’s revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.52 earnings per share. On average, research analysts expect that Apple Inc. will post 5.99 EPS for the current fiscal year.
Apple announced that its board has authorized a share buyback program on Thursday, May 4th that allows the company to repurchase $90.00 billion in shares. This repurchase authorization allows the iPhone maker to buy up to 3.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
Apple Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 18th. Investors of record on Monday, May 15th were paid a dividend of $0.24 per share. This is a positive change from Apple’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Friday, May 12th. Apple’s dividend payout ratio (DPR) is currently 16.30%.
Analyst Upgrades and Downgrades
AAPL has been the topic of a number of recent research reports. The Goldman Sachs Group assumed coverage on Apple in a research note on Sunday, March 5th. They set a “buy” rating and a $199.00 price target on the stock. Fundamental Research set a $183.86 price target on Apple and gave the stock a “buy” rating in a report on Wednesday. Cowen cut their price target on Apple from $200.00 to $195.00 and set an “outperform” rating on the stock in a report on Friday, February 3rd. Canaccord Genuity Group increased their price target on Apple from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, May 5th. Finally, Barclays upped their target price on Apple from $145.00 to $149.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 26th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.74.
Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.
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