Hudson Valley Investment Advisors Inc. ADV reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 42,825 shares of the iPhone maker’s stock after selling 589 shares during the period. Apple accounts for approximately 2.0% of Hudson Valley Investment Advisors Inc. ADV’s investment portfolio, making the stock its 9th biggest position. Hudson Valley Investment Advisors Inc. ADV’s holdings in Apple were worth $8,476,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Rockland Trust Co. boosted its holdings in Apple by 4.8% in the second quarter. Rockland Trust Co. now owns 20,618 shares of the iPhone maker’s stock worth $4,081,000 after purchasing an additional 948 shares during the last quarter. CKW Financial Group boosted its holdings in Apple by 15.0% in the 4th quarter. CKW Financial Group now owns 807 shares of the iPhone maker’s stock worth $127,000 after acquiring an additional 105 shares during the period. Pecaut & CO. boosted its stake in shares of Apple by 3.0% during the 1st quarter. Pecaut & CO. now owns 59,894 shares of the iPhone maker’s stock valued at $11,377,000 after buying an additional 1,725 shares during the last quarter. Founders Capital Management LLC boosted its stake in shares of Apple by 164.2% during the 4th quarter. Founders Capital Management LLC now owns 15,120 shares of the iPhone maker’s stock valued at $2,385,000 after buying an additional 9,396 shares during the last quarter. Finally, Farmers Trust Co. boosted its stake in shares of Apple by 13.1% during the 4th quarter. Farmers Trust Co. now owns 56,127 shares of the iPhone maker’s stock valued at $8,854,000 after buying an additional 6,492 shares during the last quarter. 59.21% of the stock is owned by institutional investors and hedge funds.
In other Apple news, Director Arthur D. Levinson sold 17,500 shares of Apple stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $214.02, for a total transaction of $3,745,350.00. Following the completion of the transaction, the director now owns 1,150,783 shares in the company, valued at approximately $246,290,577.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 4,376 shares of Apple stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $217.47, for a total value of $951,648.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,376 shares of company stock valued at $8,226,574. 0.05% of the stock is currently owned by company insiders.
Several research firms recently issued reports on AAPL. Daiwa Capital Markets set a $223.00 price target on Apple and gave the company a “buy” rating in a research report on Wednesday, August 7th. Nomura raised their price target on Apple from $180.00 to $185.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Morgan Stanley set a $247.00 target price on Apple and gave the company a “buy” rating in a research note on Wednesday, July 31st. Piper Jaffray Companies raised their target price on Apple from $230.00 to $243.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Deutsche Bank increased their price objective on Apple from $205.00 to $210.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Four equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $211.12.
Shares of AAPL opened at $202.64 on Friday. The stock has a fifty day moving average of $205.00 and a 200-day moving average of $192.84. Apple Inc. has a 52 week low of $142.00 and a 52 week high of $233.47. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.47 and a current ratio of 1.50. The stock has a market capitalization of $960.14 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 1.78 and a beta of 1.25.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.10 by $0.08. The firm had revenue of $53.81 billion during the quarter, compared to analyst estimates of $53.39 billion. Apple had a return on equity of 52.13% and a net margin of 21.50%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the company posted $2.34 EPS. As a group, equities analysts forecast that Apple Inc. will post 11.63 EPS for the current year.
Apple declared that its Board of Directors has authorized a share repurchase program on Tuesday, April 30th that allows the company to repurchase $75.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to reacquire up to 7.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were paid a $0.77 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.08 annualized dividend and a dividend yield of 1.52%. Apple’s dividend payout ratio is presently 25.86%.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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