GSB Wealth Management LLC raised its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 0.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,733 shares of the iPhone maker’s stock after buying an additional 302 shares during the quarter. Apple makes up approximately 2.2% of GSB Wealth Management LLC’s investment portfolio, making the stock its 4th largest position. GSB Wealth Management LLC’s holdings in Apple were worth $7,842,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Christopher J. Hasenberg Inc acquired a new position in shares of Apple in the 1st quarter valued at $35,000. Gilfoyle & Co LLC raised its stake in shares of Apple by 118.0% in the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after acquiring an additional 118 shares during the period. A.P. Gilfoyle & Co. L.P. acquired a new position in shares of Apple in the 4th quarter worth approximately $39,000. University of Texas Texas AM Investment Managment Co. boosted its position in shares of Apple by 657.1% during the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after purchasing an additional 368 shares during the period. Finally, Clarity Asset Management Inc. acquired a new stake in Apple in the 4th quarter valued at approximately $85,000. 60.41% of the stock is owned by institutional investors and hedge funds.
Apple Price Performance
Shares of NASDAQ:AAPL opened at $217.96 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. The company has a 50-day moving average price of $210.84 and a 200 day moving average price of $190.10. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.23. The company has a market cap of $3.34 trillion, a P/E ratio of 33.90, a PEG ratio of 2.64 and a beta of 1.24.
Apple (NASDAQ:AAPL – Get Free Report) last released its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. Apple had a return on equity of 148.33% and a net margin of 26.31%. The company had revenue of $90.75 billion during the quarter, compared to the consensus estimate of $90.37 billion. During the same quarter last year, the company earned $1.52 earnings per share. Apple’s quarterly revenue was down 4.3% compared to the same quarter last year. Research analysts predict that Apple Inc. will post 6.59 earnings per share for the current year.
Apple declared that its Board of Directors has authorized a stock buyback program on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to repurchase up to 3.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.
Apple Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.46%. This is a boost from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio (DPR) is currently 15.55%.
Insider Transactions at Apple
In other news, Director Arthur D. Levinson sold 75,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the sale, the director now directly owns 4,359,576 shares in the company, valued at $835,207,570.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Apple news, insider Chris Kondo sold 4,999 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total value of $951,809.60. Following the transaction, the insider now directly owns 29,278 shares in the company, valued at approximately $5,574,531.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Arthur D. Levinson sold 75,000 shares of the firm’s…
Read More: Apple Inc. (NASDAQ:AAPL) Holdings Boosted by GSB Wealth Management LLC