Stelac Advisory Services LLC raised its holdings in Apple Inc. (NASDAQ:AAPL) by 150.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 109,419 shares of the iPhone maker’s stock after buying an additional 65,734 shares during the quarter. Apple accounts for about 2.7% of Stelac Advisory Services LLC’s investment portfolio, making the stock its 5th largest position. Stelac Advisory Services LLC’s holdings in Apple were worth $14,993,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. H&H International Investment LLC boosted its holdings in Apple by 25.6% in the 1st quarter. H&H International Investment LLC now owns 35,288,200 shares of the iPhone maker’s stock valued at $4,310,454,000 after purchasing an additional 7,186,900 shares during the period. Altshuler Shaham Ltd increased its holdings in shares of Apple by 358,827.0% during the 1st quarter. Altshuler Shaham Ltd now owns 6,044,331 shares of the iPhone maker’s stock worth $738,315,000 after purchasing an additional 6,042,647 shares during the period. Oak Ridge Investments LLC raised its position in shares of Apple by 1,041.0% during the first quarter. Oak Ridge Investments LLC now owns 6,118,670 shares of the iPhone maker’s stock valued at $747,396,000 after buying an additional 5,582,423 shares during the last quarter. Flossbach Von Storch AG lifted its stake in shares of Apple by 265.5% in the second quarter. Flossbach Von Storch AG now owns 6,935,205 shares of the iPhone maker’s stock valued at $949,846,000 after buying an additional 5,037,609 shares during the period. Finally, Factorial Partners LLC grew its position in Apple by 12,115.0% during the first quarter. Factorial Partners LLC now owns 3,610,754 shares of the iPhone maker’s stock worth $29,560,000 after buying an additional 3,581,194 shares in the last quarter. 56.38% of the stock is currently owned by institutional investors.
AAPL has been the subject of a number of research reports. Jefferies Financial Group started coverage on Apple in a research report on Monday, September 13th. They issued a “buy” rating and a $175.00 price objective for the company. Cowen reiterated an “outperform” rating and set a $180.00 price target on shares of Apple in a research note on Wednesday. Morgan Stanley boosted their price target on shares of Apple from $166.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, July 28th. Credit Suisse Group set a $150.00 price objective on shares of Apple in a report on Monday, September 13th. Finally, Robert W. Baird raised shares of Apple to an “outperform” rating and upped their target price for the company from $160.00 to $170.00 in a research note on Wednesday, September 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat.com, Apple presently has a consensus rating of “Buy” and an average price target of $161.68.
Apple (NASDAQ:AAPL) last released its earnings results on Monday, July 26th. The iPhone maker reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.29. The company had revenue of $81.40 billion during the quarter, compared to the consensus estimate of $73.48 billion. Apple had a return on equity of 131.01% and a net margin of 25.00%. The firm’s quarterly revenue was up 36.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.64 earnings per share. As a group, equities analysts expect that Apple Inc. will post 5.59 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 12th. Shareholders of record on Monday, August 9th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, August 6th. This represents a $0.88 dividend on an annualized basis and a yield of 0.60%. Apple’s payout ratio is presently 26.83%.
In related news, SVP Deirdre O’brien sold 14,877 shares of the company’s stock in a transaction dated Friday, August 6th. The stock was sold at an average price of $145.99, for a total value of $2,171,893.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy D. Cook sold 2,386,440 shares of the firm’s stock in a transaction dated Wednesday, August 25th. The stock was sold at an average price of $148.58, for a total value of $354,577,255.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,418,317 shares of company stock worth $359,229,278. Corporate insiders own 0.06% of the company’s stock.
Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other variety 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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