NewFocus Financial Group LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,085 shares of the iPhone maker’s stock after selling 1,131 shares during the period. Apple comprises 7.2% of NewFocus Financial Group LLC’s investment portfolio, making the stock its 3rd biggest position. NewFocus Financial Group LLC’s holdings in Apple were worth $11,649,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Apple during the fourth quarter worth about $5,625,709,000. Fisher Asset Management LLC increased its stake in shares of Apple by 1.2% during the first quarter. Fisher Asset Management LLC now owns 11,638,395 shares of the iPhone maker’s stock worth $1,671,972,000 after purchasing an additional 140,368 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in Apple by 23.2% during the 1st 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 acquiring an additional 1,749,797 shares in the last quarter. AQR Capital Management LLC grew its stake in Apple by 2.5% during the 4th quarter. AQR Capital Management LLC now owns 6,605,140 shares of the iPhone maker’s stock valued at $765,008,000 after acquiring an additional 161,560 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. grew its stake in Apple by 1.3% during the 1st quarter. Chevy Chase Trust Holdings Inc. now owns 5,174,924 shares of the iPhone maker’s stock valued at $743,409,000 after acquiring an additional 66,038 shares in the last quarter. 60.45% of the stock is owned by institutional investors and hedge funds.
TRADEMARK VIOLATION NOTICE: This report was originally published by BBNS and is the sole property of of BBNS. If you are accessing this report on another publication, it was stolen and republished in violation of United States & international copyright & trademark laws. The original version of this report can be viewed at https://baseballnewssource.com/markets/newfocus-financial-group-llc-has-11-65-million-stake-in-apple-inc-aapl/1566558.html.
Apple Inc. (NASDAQ AAPL) traded up 1.01% during midday trading on Friday, hitting $159.88. The stock had a trading volume of 49,114,602 shares. Apple Inc. has a 1-year low of $104.08 and a 1-year high of $164.94. The firm has a 50-day moving average price of $158.97 and a 200-day moving average price of $149.42. The firm has a market capitalization of $825.82 billion, a price-to-earnings ratio of 18.15 and a beta of 1.27.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.10. The firm had revenue of $45.41 billion for the quarter, compared to analyst estimates of $44.94 billion. Apple had a return on equity of 35.40% and a net margin of 20.87%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.42 EPS. On average, equities research analysts anticipate that Apple Inc. will post $9.01 earnings per share for the current year.
The firm also recently announced 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 dividend yield of 1.58%. The ex-dividend date of this dividend was Thursday, August 10th. Apple’s payout ratio is presently 28.64%.
In related news, SVP Johny Srouji sold 10,469 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $162.20, for a total transaction of $1,698,071.80. Following the transaction, the senior vice president now directly owns 76,250 shares of the company’s stock, valued at approximately $12,367,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 268,623 shares of the business’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $160.63, for a total value of $43,148,912.49. The disclosure for this sale can be found here. Insiders have sold a total of 432,930 shares of company stock worth $69,008,577 over the last three months. 0.08% of the stock is owned by insiders.
Several research firms have weighed in on AAPL. UBS AG reiterated a “buy” rating and issued a $170.00 target price on shares of Apple in a report on Saturday, May 20th. Credit Suisse Group reiterated an “outperform” rating and issued a $170.00 target price on shares of Apple in a report on Tuesday, June 6th. Deutsche Bank AG reiterated a “hold” rating and issued a $130.00 target price on shares of Apple in a report on Tuesday, June 6th. BMO Capital Markets reiterated an “outperform” rating and issued a $170.00 target price on shares of Apple in a report on Tuesday, July 25th. Finally, Sanford C. Bernstein reiterated a “buy” rating and issued a $160.00 target price on shares of Apple in a report on Tuesday, May 23rd. Eleven analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company’s stock. The stock currently has an average 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.
Receive News & Ratings for Apple Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Inc. and related companies with our FREE daily email newsletter.