Israel Discount Bank of New York Has $4.24 Million Stock Position in Apple Inc. (NASDAQ:AAPL)
Israel Discount Bank of New York boosted its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,293 shares of the iPhone maker’s stock after purchasing an additional 402 shares during the quarter. Apple makes up approximately 2.8% of Israel Discount Bank of New York’s holdings, making the stock its 8th biggest position. Israel Discount Bank of New York’s holdings in Apple were worth $4,241,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Dark Forest Capital Management LP bought a new position in shares of Apple during the 3rd quarter valued at approximately $29,000. Joseph Group Capital Management bought a new position in shares of Apple during the 4th quarter valued at approximately $1,631,000. Shore Point Advisors LLC bought a new position in shares of Apple during the 4th quarter valued at approximately $41,000. St. James Investment Advisors LLC bought a new position in shares of Apple during the 4th quarter valued at approximately $57,000. Finally, Econ Financial Services Corp bought a new position in shares of Apple during the 4th quarter valued at approximately $58,000. Institutional investors and hedge funds own 57.98% of the company’s stock.
Shares of AAPL stock opened at $141.66 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.93 and a quick ratio of 0.88. The company has a market cap of $2.29 trillion, a P/E ratio of 23.00, a PEG ratio of 1.77 and a beta of 1.20. The stock’s 50-day moving average is $148.09 and its 200 day moving average is $162.35. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94.
Apple (NASDAQ:AAPL – Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.09. The business had revenue of $97.28 billion during the quarter, compared to the consensus estimate of $93.99 billion. Apple had a return on equity of 152.88% and a net margin of 26.41%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company earned $1.40 earnings per share. On average, analysts anticipate that Apple Inc. will post 6.11 EPS for the current year.
Apple announced that its board has approved a share buyback program on Thursday, April 28th that permits the company to buyback $90.00 billion in shares. This buyback authorization permits the iPhone maker to buy up to 3.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 12th. Shareholders of record on Monday, May 9th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.65%. The ex-dividend date was Friday, May 6th. This is an increase from Apple’s previous quarterly dividend of $0.22. Apple’s dividend payout ratio (DPR) is currently 14.94%.
In related news, SVP Deirdre O’brien sold 29,198 shares of Apple stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $177.77, for a total transaction of $5,190,528.46. Following the completion of the sale, the senior vice president now owns 136,290 shares of the company’s stock, valued at $24,228,273.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey E. Williams sold 105,901 shares of Apple stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $177.75, for a total value of $18,823,902.75. Following the sale, the chief operating officer now directly owns 489,662 shares of the company’s stock, valued at approximately $87,037,420.50. The disclosure for this sale can be found here. In the last three months, insiders sold 168,099 shares of company stock valued at $29,376,711. Corporate insiders own 0.06% of the company’s stock.
A number of research firms have recently commented on AAPL. Credit Suisse Group set a $169.00 target price on Apple in a research report on Friday, April 29th. Sanford C. Bernstein set a $170.00 price target on Apple in a report on Monday, May 2nd. StockNews.com began coverage on Apple in a report on Thursday, March 31st. They set a “hold” rating on the stock. Deutsche Bank Rese… set a $210.00 price target on Apple in a report on Friday, April 8th. Finally, Morgan Stanley decreased their price target on Apple from $195.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, June 14th. Nine investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average target price of $186.55.
About Apple (Get Rating)
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.
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