Plimoth Trust Co. LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,552 shares of the iPhone maker’s stock after selling 397 shares during the period. Apple makes up 2.8% of Plimoth Trust Co. LLC’s holdings, making the stock its 4th biggest holding. Plimoth Trust Co. LLC’s holdings in Apple were worth $7,501,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of AAPL. Contravisory Investment Management Inc. grew its position in Apple by 30.6% in the 4th quarter. Contravisory Investment Management Inc. now owns 614 shares of the iPhone maker’s stock worth $97,000 after purchasing an additional 144 shares in the last quarter. CKW Financial Group grew its position in Apple by 15.0% in the 4th quarter. CKW Financial Group now owns 807 shares of the iPhone maker’s stock worth $127,000 after purchasing an additional 105 shares in the last quarter. Leith Wheeler Investment Counsel Ltd. bought a new stake in Apple in the 3rd quarter worth about $201,000. Moller Financial Services bought a new stake in Apple in the 3rd quarter worth about $226,000. Finally, Stratford Consulting LLC bought a new stake in Apple in the 3rd quarter worth about $226,000. 57.36% of the stock is owned by institutional investors.
In other Apple news, COO Jeffrey E. Williams sold 56,411 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $210.36, for a total value of $11,866,617.96. Following the sale, the chief operating officer now directly owns 151,187 shares in the company, valued at approximately $31,803,697.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arthur D. Levinson sold 35,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $210.86, for a total transaction of $7,380,100.00. Following the completion of the sale, the director now owns 1,168,283 shares in the company, valued at $246,344,153.38. The disclosure for this sale can be found here. Insiders have sold a total of 142,549 shares of company stock worth $29,300,960 over the last 90 days. 0.05% of the stock is currently owned by corporate insiders.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, April 30th. The iPhone maker reported $2.46 EPS for the quarter, beating the Zacks’ consensus estimate of $2.37 by $0.09. The company had revenue of $58.02 billion for the quarter, compared to analysts’ expectations of $57.40 billion. Apple had a net margin of 22.12% and a return on equity of 51.29%. Apple’s revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.73 EPS. As a group, research analysts forecast that Apple Inc. will post 11.48 EPS for the current year.
Apple announced that its board has initiated a stock buyback program on Tuesday, April 30th that permits the company to repurchase $75.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to repurchase up to 7.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were paid a dividend of $0.77 per share. This is a boost from Apple’s previous quarterly dividend of $0.73. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Friday, May 10th. Apple’s dividend payout ratio is presently 25.86%.
A number of brokerages have issued reports on AAPL. BidaskClub downgraded shares of Apple from a “buy” rating to a “hold” rating in a research report on Tuesday. Jefferies Financial Group upped their price objective on shares of Apple from $160.00 to $210.00 and gave the stock a “hold” rating in a research report on Wednesday, May 1st. ValuEngine downgraded shares of Apple from a “buy” rating to a “hold” rating in a research report on Monday. Canaccord Genuity upped their price objective on shares of Apple from $230.00 to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, Morgan Stanley set a $220.00 price objective on shares of Apple and gave the stock a “buy” rating in a research report on Tuesday, March 26th. Three analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $211.43.
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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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