BB&T Corp lessened its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 436,562 shares of the iPhone maker’s stock after selling 812 shares during the quarter. Apple makes up about 1.4% of BB&T Corp’s investment portfolio, making the stock its 10th largest position. BB&T Corp’s holdings in Apple were worth $68,864,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Kiley Juergens Wealth Management LLC raised its position in shares of Apple by 1.1% during the fourth quarter. Kiley Juergens Wealth Management LLC now owns 44,530 shares of the iPhone maker’s stock worth $7,024,000 after acquiring an additional 494 shares during the last quarter. Rothschild & Co. Asset Management US Inc. grew its stake in shares of Apple by 9.0% during the third quarter. Rothschild & Co. Asset Management US Inc. now owns 304,348 shares of the iPhone maker’s stock worth $68,704,000 after purchasing an additional 25,092 shares during the period. Newman Dignan & Sheerar Inc. grew its stake in shares of Apple by 5.2% during the third quarter. Newman Dignan & Sheerar Inc. now owns 23,123 shares of the iPhone maker’s stock worth $5,186,000 after purchasing an additional 1,142 shares during the period. CKW Financial Group grew its stake in shares of Apple by 15.0% during the fourth quarter. CKW Financial Group now owns 807 shares of the iPhone maker’s stock worth $127,000 after purchasing an additional 105 shares during the period. Finally, Dundas Partners LLP grew its stake in shares of Apple by 28.0% during the third quarter. Dundas Partners LLP now owns 43,775 shares of the iPhone maker’s stock worth $12,083,000 after purchasing an additional 9,585 shares during the period. Institutional investors and hedge funds own 57.36% of the company’s stock.
In other news, insider Luca Maestri sold 51,138 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $196.61, for a total value of $10,054,242.18. Following the transaction, the insider now owns 27,448 shares of the company’s stock, valued at $5,396,551.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey E. Williams sold 56,411 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $210.36, for a total value of $11,866,617.96. Following the completion of the transaction, the chief operating officer now directly owns 151,187 shares in the company, valued at approximately $31,803,697.32. The disclosure for this sale can be found here. Insiders sold 142,549 shares of company stock worth $29,300,960 in the last 90 days. Corporate insiders own 0.05% of the company’s stock.
AAPL traded down $3.82 on Wednesday, hitting $182.78. 27,219,410 shares of the company were exchanged, compared to its average volume of 30,940,857. Apple Inc. has a 12 month low of $142.00 and a 12 month high of $233.47. The firm has a market capitalization of $928.96 billion, a PE ratio of 15.35, a PEG ratio of 1.60 and a beta of 1.14. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.32.
Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, April 30th. The iPhone maker reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.09. The business had revenue of $58.02 billion for the quarter, compared to analyst estimates of $57.40 billion. Apple had a return on equity of 51.29% and a net margin of 22.12%. Apple’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.73 earnings per share. On average, research analysts forecast that Apple Inc. will post 11.48 earnings per share for the current year.
Apple declared that its board has approved a stock repurchase plan on Tuesday, April 30th that permits the company to repurchase $75.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to buy up to 7.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were paid a $0.77 dividend. This is a positive change from Apple’s previous quarterly dividend of $0.73. The ex-dividend date was Friday, May 10th. This represents a $3.08 annualized dividend and a yield of 1.69%. Apple’s dividend payout ratio is currently 25.86%.
A number of equities research analysts recently commented on the company. BidaskClub cut Apple from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. Credit Suisse Group reaffirmed a “neutral” rating and set a $209.00 price objective on shares of Apple in a research note on Tuesday. Morgan Stanley set a $220.00 price objective on Apple and gave the stock a “buy” rating in a research note on Tuesday, March 26th. Jefferies Financial Group lifted their price objective on Apple from $160.00 to $210.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. Finally, ValuEngine cut Apple from a “buy” rating to a “hold” rating in a research note on Monday, May 13th. Three research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Apple has a consensus rating of “Hold” and a consensus target price of $211.25.
Apple Company Profile
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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