Hanson McClain Inc. raised its position in shares of Apple (NASDAQ:AAPL) by 3.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 40,069 shares of the iPhone maker’s stock after purchasing an additional 1,521 shares during the quarter. Apple accounts for 0.5% of Hanson McClain Inc.’s portfolio, making the stock its 13th largest position. Hanson McClain Inc.’s holdings in Apple were worth $6,781,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. Oak Point Wealth Management purchased a new stake in shares of Apple in the fourth quarter worth about $163,000. Stuart Chaussee & Associates Inc. boosted its stake in shares of Apple by 940.8% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 1,072 shares of the iPhone maker’s stock worth $181,000 after buying an additional 969 shares during the last quarter. Interactive Financial Advisors purchased a new stake in shares of Apple in the fourth quarter worth about $188,000. Delphi Private Advisors LLC boosted its stake in shares of Apple by 8,292.9% in the fourth quarter. Delphi Private Advisors LLC now owns 1,175 shares of the iPhone maker’s stock worth $199,000 after buying an additional 1,161 shares during the last quarter. Finally, Financial & Investment Management Group Ltd. purchased a new stake in shares of Apple in the fourth quarter worth about $204,000. Institutional investors and hedge funds own 58.04% of the company’s stock.
Shares of Apple stock opened at $188.84 on Monday. Apple has a 12 month low of $142.20 and a 12 month high of $194.20. The company has a market cap of $958.18 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 1.55 and a beta of 1.29. The company has a quick ratio of 1.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.80.
Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, May 1st. The iPhone maker reported $2.73 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.04. Apple had a return on equity of 39.97% and a net margin of 21.55%. The business had revenue of $61.14 billion during the quarter, compared to analysts’ expectations of $60.94 billion. During the same quarter in the prior year, the firm earned $2.10 earnings per share. The business’s revenue was up 15.6% compared to the same quarter last year. equities research analysts anticipate that Apple will post 11.42 EPS for the current fiscal year.
Apple announced that its board has initiated a share repurchase plan on Tuesday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to purchase up to 11.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
A number of analysts have recently commented on AAPL shares. Maxim Group upgraded Apple from a “hold” rating to a “buy” rating in a research note on Thursday, May 31st. Morgan Stanley lowered their target price on Apple from $203.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday, April 20th. Monness Crespi & Hardt started coverage on Apple in a research note on Wednesday, April 11th. They issued a “buy” rating and a $235.00 target price on the stock. Royal Bank of Canada set a $203.00 target price on Apple and gave the stock a “buy” rating in a research note on Wednesday, April 11th. Finally, Goldman Sachs Group set a $159.00 price target on Apple and gave the stock a “neutral” rating in a report on Tuesday, April 3rd. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $206.89.
In other news, insider Luca Maestri sold 39,122 shares of the company’s stock in a transaction that occurred on Friday, April 13th. The stock was sold at an average price of $174.66, for a total value of $6,833,048.52. Following the completion of the sale, the insider now directly owns 64,475 shares in the company, valued at $11,261,203.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Philip W. Schiller sold 69,491 shares of the company’s stock in a transaction that occurred on Tuesday, April 3rd. The shares were sold at an average price of $166.42, for a total value of $11,564,692.22. The disclosure for this sale can be found here. Insiders sold 272,506 shares of company stock valued at $48,367,350 over the last 90 days. Company insiders own 0.06% of the company’s stock.
Apple Company Profile
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
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