Apple (AAPL) Position Boosted by Boston Partners

Boston Partners boosted its position in shares of Apple (NASDAQ:AAPL) by 11.5% in the 4th quarter, HoldingsChannel reports. The fund owned 4,105,569 shares of the iPhone maker’s stock after purchasing an additional 424,057 shares during the period. Apple makes up 0.8% of Boston Partners’ holdings, making the stock its 29th largest holding. Boston Partners’ holdings in Apple were worth $694,786,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Capital Insight Partners LLC grew its stake in Apple by 4.9% in the 4th quarter. Capital Insight Partners LLC now owns 6,292 shares of the iPhone maker’s stock worth $1,065,000 after buying an additional 293 shares in the last quarter. Corundum Group Inc. grew its stake in Apple by 15.4% in the 3rd quarter. Corundum Group Inc. now owns 2,242 shares of the iPhone maker’s stock worth $346,000 after buying an additional 299 shares in the last quarter. Crossvault Capital Management LLC grew its stake in Apple by 0.5% in the 3rd quarter. Crossvault Capital Management LLC now owns 65,678 shares of the iPhone maker’s stock worth $10,122,000 after buying an additional 300 shares in the last quarter. Welch Investments LLC grew its stake in Apple by 18.7% in the 3rd quarter. Welch Investments LLC now owns 1,907 shares of the iPhone maker’s stock worth $294,000 after buying an additional 300 shares in the last quarter. Finally, Schaper Benz & Wise Investment Counsel Inc. WI grew its stake in Apple by 0.4% in the 4th quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 76,786 shares of the iPhone maker’s stock worth $12,994,000 after buying an additional 303 shares in the last quarter. 60.93% of the stock is owned by institutional investors.

AAPL has been the subject of a number of research reports. Atlantic Securities cut shares of Apple from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $177.35 to $190.00 in a research note on Monday, January 22nd. They noted that the move was a valuation call. Morgan Stanley reissued a “buy” rating and issued a $205.00 price target (up previously from $200.00) on shares of Apple in a research note on Tuesday, January 23rd. Canaccord Genuity reissued a “buy” rating and issued a $200.00 price target (up previously from $195.00) on shares of Apple in a research note on Wednesday, January 24th. Sanford C. Bernstein set a $195.00 price target on shares of Apple and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Finally, Macquarie set a $188.00 price target on shares of Apple and gave the stock a “buy” rating in a research note on Friday, January 26th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, thirty-three have issued a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $204.00.

NASDAQ:AAPL opened at $186.31 on Monday. The stock has a market capitalization of $945.34 billion, a PE ratio of 20.23, a price-to-earnings-growth ratio of 1.38 and a beta of 1.26. The company has a current ratio of 1.46, a quick ratio of 1.37 and a debt-to-equity ratio of 0.80. Apple has a 1-year low of $142.20 and a 1-year high of $190.37.

Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, May 1st. The iPhone maker reported $2.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.69 by $0.04. The firm had revenue of $61.14 billion for the quarter, compared to the consensus estimate of $60.94 billion. Apple had a net margin of 21.55% and a return on equity of 39.97%. The company’s revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.10 EPS. analysts forecast that Apple will post 11.43 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 17th. Stockholders of record on Monday, May 14th were given a $0.73 dividend. The ex-dividend date of this dividend was Friday, May 11th. This is an increase from Apple’s previous quarterly dividend of $0.63. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.57%. Apple’s dividend payout ratio is currently 31.70%.

Apple announced that its board has authorized a share buyback program on Tuesday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to repurchase up to 11.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

In other news, insider Philip W. Schiller sold 69,491 shares of the company’s stock in a transaction dated Tuesday, April 3rd. The shares were sold at an average price of $166.42, for a total value of $11,564,692.22. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Chris Kondo sold 4,867 shares of the company’s stock in a transaction dated Wednesday, May 16th. The stock was sold at an average price of $187.00, for a total transaction of $910,129.00. Following the completion of the sale, the insider now directly owns 8,433 shares in the company, valued at $1,576,971. The disclosure for this sale can be found here. Insiders sold a total of 219,736 shares of company stock worth $38,403,373 over the last ninety days. Insiders own 0.08% 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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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