Foresters Investment Management Company Inc. decreased its stake in Apple Inc. (NASDAQ:AAPL) by 19.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 319,580 shares of the iPhone maker’s stock after selling 75,167 shares during the period. Apple accounts for approximately 1.0% of Foresters Investment Management Company Inc.’s holdings, making the stock its 14th largest position. Foresters Investment Management Company Inc.’s holdings in Apple were worth $50,411,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kiley Juergens Wealth Management LLC lifted its position in 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. lifted its position in 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 acquiring an additional 25,092 shares during the last quarter. CKW Financial Group lifted its position in 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 acquiring an additional 105 shares during the last quarter. Dundas Partners LLP lifted its position in 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 acquiring an additional 9,585 shares during the last quarter. Finally, Founders Capital Management LLC lifted its position in Apple by 164.2% during the fourth quarter. Founders Capital Management LLC now owns 15,120 shares of the iPhone maker’s stock worth $2,385,000 after acquiring an additional 9,396 shares during the last quarter. Institutional investors own 58.61% of the company’s stock.
Several equities research analysts have issued reports on AAPL shares. Jefferies Financial Group set a $160.00 price objective on shares of Apple and gave the stock a “hold” rating in a research report on Friday, February 15th. JPMorgan Chase & Co. set a $228.00 price objective on shares of Apple and gave the stock a “buy” rating in a research report on Wednesday, February 20th. Wedbush restated an “outperform” rating on shares of Apple in a research report on Thursday, February 21st. ValuEngine downgraded shares of Apple from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Finally, Bank of America upgraded shares of Apple from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $180.00 to $210.00 in a research report on Monday, March 11th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $207.57.
In other Apple news, COO Jeffrey E. Williams sold 56,411 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $210.36, for a total transaction of $11,866,617.96. Following the sale, the chief operating officer now owns 151,187 shares of the company’s stock, valued at $31,803,697.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Arthur D. Levinson sold 35,000 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $210.86, for a total transaction of $7,380,100.00. Following the sale, the director now directly owns 1,168,283 shares in the company, valued at approximately $246,344,153.38. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 142,549 shares of company stock worth $29,300,960. Insiders own 0.05% of the company’s stock.
Shares of NASDAQ:AAPL opened at $194.19 on Thursday. The company has a market capitalization of $896.34 billion, a P/E ratio of 16.38, a PEG ratio of 1.65 and a beta of 1.20. The company has a current ratio of 1.32, a quick ratio of 1.26 and a debt-to-equity ratio of 0.85. Apple Inc. has a 1 year low of $142.00 and a 1 year high of $233.47.
Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, April 30th. The iPhone maker reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.09. The business had revenue of $58.02 billion for the quarter, compared to analysts’ expectations of $57.40 billion. Apple had a net margin of 22.12% and a return on equity of 51.29%. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period last year, the firm posted $2.73 earnings per share. As a group, equities analysts predict that Apple Inc. will post 11.48 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend was Friday, May 10th. This is a boost from Apple’s previous quarterly dividend of $0.73. Apple’s payout ratio is presently 25.86%.
Apple announced that its board has authorized a share repurchase program on Tuesday, April 30th that authorizes the company to buyback $75.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to buy up to 7.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
COPYRIGHT VIOLATION WARNING: “Foresters Investment Management Company Inc. Has $50.41 Million Stake in Apple Inc. (NASDAQ:AAPL)” was published by American Banking News and is the property of of American Banking News. If you are reading this piece on another site, it was illegally stolen and republished in violation of U.S. and international trademark & copyright laws. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2019/06/13/foresters-investment-management-company-inc-has-50-41-million-stake-in-apple-inc-nasdaqaapl.html.
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.
Featured Story: Insider Trading
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL).
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.