McKinley Carter Wealth Services Inc. lessened its position in shares of Apple (NASDAQ:AAPL) by 1.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,301 shares of the iPhone maker’s stock after selling 406 shares during the period. Apple accounts for 1.6% of McKinley Carter Wealth Services Inc.’s investment portfolio, making the stock its 13th largest position. McKinley Carter Wealth Services Inc.’s holdings in Apple were worth $4,620,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Oak Point Wealth Management bought a new stake in shares of Apple during the 4th quarter valued at $163,000. Interactive Financial Advisors bought a new stake in shares of Apple during the 4th quarter valued at $188,000. Financial & Investment Management Group Ltd. bought a new stake in shares of Apple during the 4th quarter valued at $204,000. Hikari Power Ltd bought a new stake in shares of Apple during the 3rd quarter valued at $208,000. Finally, Eliot Finkel Investment Counsel LLC bought a new stake in shares of Apple during the 3rd quarter valued at $209,000. 61.12% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Angela J. Ahrendts sold 38,228 shares of the stock in a transaction that occurred on Friday, May 4th. The stock was sold at an average price of $176.54, for a total value of $6,748,771.12. Following the completion of the transaction, the insider now owns 90,967 shares of the company’s stock, valued at approximately $16,059,314.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Philip W. Schiller sold 69,491 shares of the stock in a transaction that occurred on Tuesday, April 3rd. The stock was 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 a total of 214,869 shares of company stock valued at $37,493,244 in the last three months. Corporate insiders own 0.08% of the company’s stock.
AAPL has been the topic of a number of analyst reports. Atlantic Securities reiterated a “neutral” rating and set a $185.00 price objective on shares of Apple in a research note on Wednesday, May 2nd. Sanford C. Bernstein reiterated a “neutral” rating and set a $170.00 price objective on shares of Apple in a research note on Thursday, April 26th. Morgan Stanley reiterated a “buy” rating and set a $205.00 price objective (up from $200.00) on shares of Apple in a research note on Tuesday, January 23rd. HSBC set a $204.00 price objective on Apple and gave the company a “buy” rating in a research note on Tuesday, January 30th. Finally, Vetr upgraded Apple from a “hold” rating to a “buy” rating and set a $184.49 price objective on the stock in a research note on Monday, March 5th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $204.00.
Shares of Apple opened at $188.59 on Friday, Marketbeat Ratings reports. Apple has a 52-week low of $142.20 and a 52-week high of $190.37. The company has a market capitalization of $950.67 billion, a PE ratio of 20.48, a PEG ratio of 1.39 and a beta of 1.26. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.46 and a quick ratio of 1.37.
Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, May 1st. The iPhone maker reported $2.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.69 by $0.04. Apple had a return on equity of 39.97% and a net margin of 21.55%. The firm had revenue of $61.14 billion during the quarter, compared to analyst estimates of $60.94 billion. During the same quarter in the prior year, the company earned $2.10 EPS. The business’s revenue was up 15.6% compared to the same quarter last year. equities research analysts forecast that Apple will post 11.43 EPS for the current year.
Apple declared that its Board of Directors has initiated a stock repurchase program on Tuesday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to buy up to 11.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 17th. Stockholders of record on Monday, May 14th will be given a $0.73 dividend. The ex-dividend date of this dividend is Friday, May 11th. This represents a $2.92 annualized dividend and a dividend yield of 1.55%. This is a positive change from Apple’s previous quarterly dividend of $0.63. Apple’s dividend payout ratio is currently 27.36%.
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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