Ifrah Financial Services Inc. lowered its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,783 shares of the iPhone maker’s stock after selling 338 shares during the period. Apple makes up about 3.2% of Ifrah Financial Services Inc.’s investment portfolio, making the stock its 5th largest position. Ifrah Financial Services Inc.’s holdings in Apple were worth $9,846,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of AAPL. Robinson Value Management Ltd. acquired a new stake in Apple during the third quarter worth about $28,000. Hanseatic Management Services Inc. increased its stake in Apple by 75.4% during the 3rd quarter. Hanseatic Management Services Inc. now owns 249 shares of the iPhone maker’s stock valued at $34,000 after buying an additional 107 shares during the period. HBC Financial Services PLLC boosted its stake in Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after purchasing an additional 80 shares in the last quarter. Align Wealth Management LLC acquired a new stake in Apple in the 4th quarter valued at about $55,000. Finally, PayPay Securities Corp acquired a new stake in Apple in the 4th quarter valued at about $60,000. 57.60% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
AAPL has been the topic of a number of analyst reports. Needham & Company LLC lifted their price target on Apple from $170.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, May 5th. StockNews.com initiated coverage on shares of Apple in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Cowen cut their price objective on Apple from $200.00 to $195.00 and set an “outperform” rating on the stock in a research note on Friday, February 3rd. Credit Suisse Group lifted their target price on shares of Apple from $184.00 to $188.00 and gave the stock an “outperform” rating in a report on Thursday, April 13th. Finally, KeyCorp increased their price objective on Apple from $177.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, May 5th. Two analysts have rated the stock with a sell rating, six have given a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $174.74.
Apple Stock Down 0.5 %
Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings results on Thursday, May 4th. The iPhone maker reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.08. The firm had revenue of $94.84 billion for the quarter, compared to analyst estimates of $92.84 billion. Apple had a net margin of 24.49% and a return on equity of 165.72%. The business’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.52 earnings per share. Analysts forecast that Apple Inc. will post 5.99 earnings per share for the current year.
Apple Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Monday, May 15th were issued a $0.24 dividend. The ex-dividend date was Friday, May 12th. This is an increase from Apple’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.55%. Apple’s dividend payout ratio (DPR) is 16.30%.
Apple declared that its Board of Directors has authorized a stock buyback plan on Thursday, May 4th that authorizes the company to repurchase $90.00 billion in shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Insiders Place Their Bets
In other news, insider Chris Kondo sold 4,092 shares of the stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $173.26, for a total value of $708,979.92. Following the completion of the sale, the insider now owns 33,946 shares of the company’s stock, valued at approximately $5,881,483.96. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Apple news, COO Jeffrey E. Williams sold 187,730 shares of the company’s stock in a transaction on Wednesday, March 22nd. The shares were sold at an average price of $159.76, for a total value of $29,991,744.80. Following the transaction, the chief operating officer now directly owns 489,816 shares in the company, valued at $78,253,004.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Chris Kondo sold 4,092 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $173.26, for a total transaction of $708,979.92. Following the sale, the insider now owns 33,946 shares of the company’s stock, valued at $5,881,483.96. The disclosure for this sale can be found here. Insiders have sold 439,529 shares of company stock valued at $71,703,657 in the last three months. 0.06% of the stock is currently owned by corporate insiders.
Apple Company Profile
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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