Osher Van de Voorde Investment Management sold 924 shares of Apple Inc. (NASDAQ:AAPL)


Osher Van de Voorde Investment Management reduced its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating ) by 0.8% during the first quarter, Holdings Channel.com reports. The firm owned 110,560 shares of the iPhone maker’s stock after selling 924 shares during the period. Apple accounts for 4.3% of Osher Van de Voorde Investment Management’s investment portfolio, making the stock its 7th largest holding. Osher Van de Voorde Investment Management’s holdings in Apple were worth $19,305,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AAPL. Joseph Group Capital Management purchased a new position in shares of Apple during the 4th quarter valued at approximately $1,631,000. Cardinal Capital Management Inc. raised its position in shares of Apple by 5,525.0% in the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock valued at $39,000 after purchasing an additional 221 shares during the last quarter. Shore Point Advisors LLC purchased a new position in shares of Apple during the 4th quarter valued at approximately $41,000.St. James Investment Advisors LLC purchased a new position in shares of Apple in the 4th quarter valued at approximately $57,000. Finally, Econ Financial Services Corp purchased a new position in shares of Apple in the 4th quarter valued at approximately $58,000. 57, 98% of the shares are currently owned by institutional investors and hedge funds.

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. set a $200.00 target price on Apple in a research report on Friday. Barclays set a $167.00 target price on Apple in a report on Tuesday, June 7th. Sanford C. Bernstein set a $170.00 target price on Apple in a report on Monday, May 2nd. Credit Suisse Group set a $169.00 target price on Apple in a report on Friday, April 29th. Finally, Deutsche Bank Rese… set a $210.00 target price on Apple in a report on Friday, April 8th. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Moderate Buy” and an average target price of $185.64, based on data from MarketBeat.

In other news, SVP Catherine L. Adams sold 25,000 shares of Apple stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $161.72, for a total value of $4,043,000.00. Following the completion of the transaction, the senior vice president now owns 452,334 shares in the company, valued at approximately $73,151,454.48. The sale was disclosed in a filing with the Securities and Exchange Commission, which is available at this link. Also, SVP Deirdre O’Brien sold 8,000 shares of Apple stock in a transaction dated Monday, April 18th. The shares were sold at an average price of $164.91, for a total value of $1,319,280.00. Following the completion of the transaction, the senior vice president now owns 136,290 shares of the company’s stock, valued at approximately $22,475,583.90. Disclosure of this sale can be found here. Insiders own 0.06% of the company’s stock.

NASDAQ AAPL opened at $138.93 on Tuesday. The company has a market cap of $2.25 trillion, a P/E ratio of 22.55, a P/E/G ratio of 1.82 and a beta of 1.19. 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 stock has a 50-day moving average of $144.93 and a 200-day moving average of $160.63. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94.

Apple (NASDAQ:AAPL – Get Rating) last posted its 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 company had revenue of $97.28 billion during the quarter, compared to the consensus estimate of $93.99 billion. Apple has a return on equity of 152.88% and a net margin of 26.41%. Apple’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company reported $1.40 EPS. On average, analysts expect Apple Inc. to post 6.1 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, May 12th. Shareholders of record on Monday, May 9th were given a $0.23 dividend. This is an increase from Apple’s previous quarterly dividend of $0.22. This represents a $0.92 annual dividend and a yield of 0.66%. The ex-dividend date was Friday, May 6th. Apple’s payout ratio is currently 14.94%.

Apple announced that its Board of Directors has initiated a stock repurchase plan on Thursday, April 28th that authorizes the company to repurchase $90.00 billion in shares. This buyback authorization allows the iPhone maker to buy up to 3.5% of its stock through open market purchases. Share buyback plans are often a sign that a company’s board believes its stock is undervalued.

About Apple (Get Rating)

Apple Inc designs, manufactures and sells smartphones, personal computers, tablets, wearable devices and accessories worldwide. It also sells various related services. In addition, the company offers the iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multifunction tablets; AirPods Max, wireless over-ear headphones; and wearables, home and accessories, including AirPods, Apple TV, Apple Watch, Beats products, HomePod and iPod touch.

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Want to see what other hedge funds hold AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider deals for Apple Inc. (NASDAQ:AAPL – Get Rating ).

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)



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