Westside Investment Management Inc. purchased a new stake in shares of Apple Inc. (NASDAQ:AAPL) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 217,810 shares of the iPhone maker’s stock, valued at approximately $35,433,000,000. Apple comprises approximately 78.4% of Westside Investment Management Inc.’s portfolio, making the stock its largest holding.
Several other large investors also recently modified their holdings of AAPL. Thoroughbred Financial Services LLC increased its holdings in shares of Apple by 19,949.3% during the second quarter. Thoroughbred Financial Services LLC now owns 10,055,128 shares of the iPhone maker’s stock valued at $1,005,513,000 after acquiring an additional 10,004,976 shares in the last quarter. H&H International Investment LLC increased its holdings in shares of Apple by 16.5% during the second quarter. H&H International Investment LLC now owns 3,877,900 shares of the iPhone maker’s stock valued at $785,333,000 after acquiring an additional 550,300 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its holdings in shares of Apple by 57.3% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 1,235,798 shares of the iPhone maker’s stock valued at $170,524,000 after acquiring an additional 450,098 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Apple by 3.4% during the fourth quarter. Fisher Asset Management LLC now owns 12,766,487 shares of the iPhone maker’s stock valued at $2,013,786,000 after buying an additional 417,421 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. boosted its position in shares of Apple by 4.3% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 10,155,585 shares of the iPhone maker’s stock valued at $1,929,054,000 after buying an additional 414,856 shares during the last quarter. Hedge funds and other institutional investors own 59.67% of the company’s stock.
In other news, Director Arthur D. Levinson sold 17,500 shares of Apple stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $214.02, for a total transaction of $3,745,350.00. Following the transaction, the director now directly owns 1,150,783 shares of the company’s stock, valued at approximately $246,290,577.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Chris Kondo sold 4,376 shares of Apple stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $217.47, for a total value of $951,648.72. The disclosure for this sale can be found here. 0.05% of the stock is owned by insiders.
Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.08. The business had revenue of $53.81 billion for the quarter, compared to analysts’ expectations of $53.39 billion. Apple had a return on equity of 52.13% and a net margin of 21.50%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period last year, the firm posted $2.34 earnings per share. As a group, equities analysts forecast that Apple Inc. will post 11.58 earnings per share for the current year.
Apple declared that its board has authorized a share buyback plan on Tuesday, April 30th that authorizes the company to buyback $75.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to purchase up to 7.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, August 12th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.47%. Apple’s payout ratio is currently 25.86%.
AAPL has been the topic of several recent analyst reports. Bank of America increased their price objective on Apple from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Credit Suisse Group set a $209.00 price objective on Apple and gave the company a “neutral” rating in a research report on Tuesday. Wedbush reaffirmed an “outperform” rating on shares of Apple in a research report on Tuesday. Goldman Sachs Group reaffirmed a “neutral” rating and set a $189.00 price objective on shares of Apple in a research report on Friday, August 2nd. Finally, Raymond James raised Apple from a “market perform” rating to an “outperform” rating and set a $250.00 price objective on the stock in a research report on Thursday, July 18th. Four research analysts have rated the stock with a sell rating, nineteen have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $217.12.
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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