Washington Trust Bank decreased its position in Apple Inc. (NASDAQ:AAPL) by 14.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,231 shares of the iPhone maker’s stock after selling 8,192 shares during the period. Apple makes up about 1.6% of Washington Trust Bank’s holdings, making the stock its 6th largest position. Washington Trust Bank’s holdings in Apple were worth $7,216,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Glacier Peak Capital LLC bought a new position in Apple during the fourth quarter worth approximately $127,000. Welch Investments LLC bought a new position in Apple during the fourth quarter worth approximately $146,000. Odey Holdings AG boosted its position in Apple by 27.3% in the fourth quarter. Odey Holdings AG now owns 1,273 shares of the iPhone maker’s stock worth $147,000 after buying an additional 273 shares during the period. Portfolio Solutions LLC bought a new position in Apple during the first quarter worth approximately $169,000. Finally, Fox Run Management L.L.C. bought a new position in Apple during the first quarter worth approximately $201,000. Hedge funds and other institutional investors own 61.13% of the company’s stock.
Apple Inc. (NASDAQ AAPL) traded up 0.80% during mid-day trading on Tuesday, hitting $160.08. The stock had a trading volume of 36,205,896 shares. Apple Inc. has a one year low of $102.53 and a one year high of $161.83. The company has a 50 day moving average price of $148.46 and a 200 day moving average price of $143.51. The stock has a market cap of $827.58 billion, a P/E ratio of 18.17 and a beta of 1.31.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.10. The business had revenue of $45.41 billion for the quarter, compared to analyst estimates of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.42 EPS. On average, equities analysts anticipate that Apple Inc. will post $9.00 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Monday, August 14th will be paid a $0.63 dividend. The ex-dividend date is Thursday, August 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.57%. Apple’s dividend payout ratio (DPR) is presently 28.64%.
Apple announced that its board has authorized a stock repurchase program on Tuesday, May 2nd that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to buy up to 6.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
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A number of research firms have recently commented on AAPL. UBS AG reissued a “buy” rating on shares of Apple in a report on Tuesday. Rosenblatt Securities reissued a “neutral” rating and issued a $150.00 target price (up previously from $120.00) on shares of Apple in a report on Tuesday. Vetr cut shares of Apple from a “buy” rating to a “hold” rating and set a $164.42 target price for the company. in a report on Monday. KeyCorp reiterated an “equal weight” rating on shares of Apple in a report on Friday. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $180.00 price objective on shares of Apple in a report on Thursday, August 3rd. Thirteen investment analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $167.54.
In related news, insider Luca Maestri sold 4,757 shares of the stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $154.70, for a total transaction of $735,907.90. Following the sale, the insider now owns 3,414 shares in the company, valued at $528,145.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Angela J. Ahrendts sold 25,377 shares of the stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $154.24, for a total transaction of $3,914,148.48. Following the sale, the insider now owns 81,936 shares in the company, valued at approximately $12,637,808.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 195,500 shares of company stock worth $29,971,446. Company insiders own 0.08% of the company’s stock.
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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