Nottingham Advisors Inc. boosted its holdings in Apple Inc. (NASDAQ:AAPL) by 33.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,949 shares of the iPhone maker’s stock after acquiring an additional 1,241 shares during the quarter. Nottingham Advisors Inc.’s holdings in Apple were worth $980,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Centaurus Financial Inc. boosted its position in Apple by 17.9% in the first quarter. Centaurus Financial Inc. now owns 8,318 shares of the iPhone maker’s stock valued at $44,000 after buying an additional 1,262 shares in the last quarter. Semmax Financial Advisors Inc. acquired a new position in Apple in the fourth quarter valued at about $50,000. INR Advisory Services LLC acquired a new position in Apple in the fourth quarter valued at about $124,000. CKW Financial Group boosted its position in 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 buying an additional 105 shares in the last quarter. Finally, Denali Advisors LLC boosted its position in 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 buying an additional 100 shares in the last quarter. 58.65% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have commented on AAPL shares. Maxim Group reduced their price target on shares of Apple to $211.00 and set a “hold” rating on the stock in a research report on Wednesday, July 31st. Rosenblatt Securities restated a “sell” rating and issued a $150.00 price target on shares of Apple in a research report on Monday, July 8th. JPMorgan Chase & Co. boosted their price target on shares of Apple from $239.00 to $243.00 in a research report on Wednesday, July 31st. Argus boosted their price target on shares of Apple to $250.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, Cascend Securities restated a “buy” rating and issued a $240.00 price target (up from $210.00) on shares of Apple in a research report on Thursday, June 20th. Four analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, twenty-five have assigned 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 price target of $217.49.
Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.10 by $0.08. Apple had a net margin of 21.50% and a return on equity of 52.13%. The business had revenue of $53.81 billion for the quarter, compared to analyst estimates of $53.39 billion. During the same period in the prior year, the business posted $2.34 earnings per share. Apple’s revenue was up 1.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Apple Inc. will post 11.58 EPS for the current year.
Apple declared that its Board of Directors has authorized a stock buyback plan on Tuesday, April 30th that allows the company to repurchase $75.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to purchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, August 12th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $3.08 annualized dividend and a yield of 1.57%. Apple’s dividend payout ratio is currently 25.86%.
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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