Westchester Capital Management Inc. lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,553 shares of the iPhone maker’s stock after selling 1,222 shares during the quarter. Apple makes up about 5.4% of Westchester Capital Management Inc.’s holdings, making the stock its largest holding. Westchester Capital Management Inc.’s holdings in Apple were worth $11,285,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in AAPL. Norges Bank purchased a new stake in shares of Apple in the fourth quarter valued at approximately $5,625,709,000. Canada Pension Plan Investment Board grew its position in shares of Apple by 23.2% in the first quarter. Canada Pension Plan Investment Board now owns 9,289,482 shares of the iPhone maker’s stock valued at $1,334,527,000 after purchasing an additional 1,749,797 shares in the last quarter. Numeric Investors LLC grew its position in shares of Apple by 99.0% in the fourth quarter. Numeric Investors LLC now owns 1,718,307 shares of the iPhone maker’s stock valued at $199,014,000 after purchasing an additional 854,920 shares in the last quarter. Congress Asset Management Co. MA purchased a new stake in shares of Apple in the fourth quarter valued at approximately $75,597,000. Finally, Thrivent Financial for Lutherans grew its position in shares of Apple by 17.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 3,410,059 shares of the iPhone maker’s stock valued at $394,955,000 after purchasing an additional 506,780 shares in the last quarter. 60.45% of the stock is owned by institutional investors and hedge funds.
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Shares of Apple Inc. (NASDAQ AAPL) traded up 1.01% during midday trading on Friday, hitting $159.88. 49,114,602 shares of the company traded hands. The stock has a market capitalization of $825.82 billion, a P/E ratio of 18.15 and a beta of 1.27. Apple Inc. has a 12-month low of $104.08 and a 12-month high of $164.94. The stock’s 50-day moving average is $158.97 and its 200 day moving average is $149.42.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, topping the consensus estimate of $1.57 by $0.10. The company had revenue of $45.41 billion during the quarter, compared to analysts’ expectations of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. Apple’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.42 EPS. On average, analysts expect that Apple Inc. will post $9.01 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Thursday, August 10th. Apple’s dividend payout ratio is currently 28.64%.
In related news, CEO Timothy D. Cook sold 268,623 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $160.63, for a total transaction of $43,148,912.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Johny Srouji sold 5,892 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $161.00, for a total transaction of $948,612.00. Following the transaction, the insider now owns 70,358 shares of the company’s stock, valued at approximately $11,327,638. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 432,930 shares of company stock valued at $69,008,577. Corporate insiders own 0.08% of the company’s stock.
A number of equities research analysts have recently issued reports on AAPL shares. Oppenheimer Holdings, Inc. restated a “” rating on shares of Apple in a research report on Thursday, August 10th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $170.00 price target on shares of Apple in a research report on Monday, May 29th. Longbow Research restated a “buy” rating and issued a $162.00 price target on shares of Apple in a research report on Wednesday, May 24th. Keefe, Bruyette & Woods set a $170.00 price target on Apple and gave the company a “buy” rating in a research report on Monday, May 22nd. Finally, Credit Suisse Group restated a “buy” rating and issued a $170.00 price target on shares of Apple in a research report on Tuesday, May 23rd. Eleven investment analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $187.63.
Apple Company Profile
Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.
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