McGuire Investment Group LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,592 shares of the iPhone maker’s stock after selling 226 shares during the period. Apple makes up about 3.4% of McGuire Investment Group LLC’s portfolio, making the stock its 7th biggest holding. McGuire Investment Group LLC’s holdings in Apple were worth $10,805,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Centaurus Financial Inc. grew its position in Apple by 17.9% during the 1st quarter. Centaurus Financial Inc. now owns 8,318 shares of the iPhone maker’s stock worth $44,000 after purchasing an additional 1,262 shares during the period. Semmax Financial Advisors Inc. acquired a new stake in Apple during the 4th quarter worth about $50,000. NuWave Investment Management LLC grew its position in Apple by 2,245.0% during the 2nd quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone maker’s stock worth $93,000 after purchasing an additional 449 shares during the period. Horan Securities Inc. grew its position in Apple by 64.2% during the 2nd quarter. Horan Securities Inc. now owns 565 shares of the iPhone maker’s stock worth $112,000 after purchasing an additional 221 shares during the period. Finally, INR Advisory Services LLC acquired a new stake in Apple during the 4th quarter worth about $124,000. Hedge funds and other institutional investors own 59.21% of the company’s stock.
In related news, CEO Timothy D. Cook sold 265,160 shares of Apple stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $206.17, for a total value of $54,668,037.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arthur D. Levinson sold 17,500 shares of Apple stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $214.02, for a total transaction of $3,745,350.00. Following the completion of the sale, the director now owns 1,150,783 shares of the company’s stock, valued at approximately $246,290,577.66. The disclosure for this sale can be found here. Insiders sold a total of 304,536 shares of company stock valued at $62,894,611 in the last quarter. 0.05% of the stock is owned by insiders.
Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.10 by $0.08. Apple had a net margin of 21.50% and a return on equity of 52.13%. The firm had revenue of $53.81 billion during the quarter, compared to the consensus estimate of $53.39 billion. During the same quarter last year, the firm earned $2.34 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, equities research analysts expect that Apple Inc. will post 11.67 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were issued a $0.77 dividend. The ex-dividend date was Friday, August 9th. This represents a $3.08 annualized dividend and a yield of 1.44%. Apple’s dividend payout ratio (DPR) is presently 25.86%.
Several equities research analysts have weighed in on AAPL shares. Piper Jaffray Companies increased their price target on Apple from $230.00 to $243.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Bank of America increased their price target on Apple from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Citigroup increased their price target on Apple from $205.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Nomura increased their price target on Apple from $180.00 to $185.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $240.00 price target (up from $202.00) on shares of Apple in a research report on Wednesday, July 31st. Four research analysts have rated the stock with a sell rating, nineteen have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $217.25.
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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