Carl P. Sherr & Co. LLC lifted its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 3.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,184 shares of the iPhone maker’s stock after purchasing an additional 1,863 shares during the period. Apple accounts for about 5.4% of Carl P. Sherr & Co. LLC’s investment portfolio, making the stock its 3rd biggest holding. Carl P. Sherr & Co. LLC’s holdings in Apple were worth $7,170,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. MKT Advisors LLC boosted its holdings in shares of Apple by 0.5% in the 2nd quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock valued at $1,777,000 after buying an additional 60 shares in the last quarter. Silver Oak Advisory Group Inc. boosted its stake in Apple by 1.8% in the 2nd quarter. Silver Oak Advisory Group Inc. now owns 3,925 shares of the iPhone maker’s stock worth $537,000 after purchasing an additional 69 shares in the last quarter. 3D L Capital Management LLC boosted its stake in Apple by 2.9% in the 1st quarter. 3D L Capital Management LLC now owns 2,445 shares of the iPhone maker’s stock worth $427,000 after purchasing an additional 70 shares in the last quarter. Weik Capital Management boosted its stake in Apple by 0.3% in the 1st quarter. Weik Capital Management now owns 25,238 shares of the iPhone maker’s stock worth $4,407,000 after purchasing an additional 70 shares in the last quarter. Finally, Coyle Financial Counsel LLC boosted its stake in Apple by 0.3% in the 2nd quarter. Coyle Financial Counsel LLC now owns 26,125 shares of the iPhone maker’s stock worth $3,572,000 after purchasing an additional 71 shares in the last quarter. 57.60% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, COO Jeffrey E. Williams sold 187,730 shares of the company’s stock in a transaction on Wednesday, March 22nd. The stock was sold at an average price of $159.76, for a total transaction of $29,991,744.80. Following the completion of the sale, the chief operating officer now directly owns 489,816 shares of the company’s stock, valued at $78,253,004.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, COO Jeffrey E. Williams sold 187,730 shares of the stock in a transaction dated Wednesday, March 22nd. The stock was sold at an average price of $159.76, for a total value of $29,991,744.80. Following the completion of the sale, the chief operating officer now directly owns 489,816 shares of the company’s stock, valued at approximately $78,253,004.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 77,817 shares of the stock in a transaction dated Tuesday, April 4th. The stock was sold at an average price of $166.11, for a total value of $12,926,181.87. Following the completion of the sale, the chief operating officer now directly owns 489,816 shares of the company’s stock, valued at $81,363,335.76. The disclosure for this sale can be found here. Insiders sold a total of 439,529 shares of company stock valued at $71,703,657 over the last three months. Insiders own 0.06% of the company’s stock.
Apple Stock Performance
Apple (NASDAQ:AAPL – Get Rating) last announced its earnings results on Thursday, May 4th. The iPhone maker reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.08. Apple had a return on equity of 165.72% and a net margin of 24.49%. The business had revenue of $94.84 billion during the quarter, compared to analysts’ expectations of $92.84 billion. During the same quarter last year, the business posted $1.52 earnings per share. The company’s quarterly revenue was down 2.5% on a year-over-year basis. Equities analysts predict that Apple Inc. will post 6 earnings per share for the current year.
Apple announced that its board has authorized a share buyback program on Thursday, May 4th that permits the company to buyback $90.00 billion in shares. This buyback authorization permits the iPhone maker to repurchase up to 3.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
Apple Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 18th. Stockholders of record on Monday, May 15th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.56%. This is an increase from Apple’s previous quarterly dividend of $0.23. The ex-dividend date is Friday, May 12th. Apple’s dividend payout ratio is currently 16.30%.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on AAPL shares. The Goldman Sachs Group started coverage on shares of Apple in a research note on Sunday, March 5th. They issued a “buy” rating and a $199.00 target price for the company. Credit Suisse Group raised their price target on shares of Apple from $184.00 to $188.00 and gave the stock an “outperform” rating in a research report on Thursday, April 13th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Apple from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, May 5th. Cowen reduced their price target on shares of Apple from $200.00 to $195.00 and set an “outperform” rating for the company in a research report on Friday, February 3rd. Finally, Sanford C. Bernstein set a $125.00 target price on shares of Apple in a report on Tuesday, January 24th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.29.
About Apple
Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.
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