In related news, insider Angela J. Ahrendts sold 25,377 shares of the business's stock in a transaction on Wednesday, May 10th. Apple comprises about 1.9% of Foothills Asset Management Ltd.'s portfolio, making the stock its 20th largest position. Skylands Capital LLC's holdings in Apple were worth $48,387,000 at the end of the most recent quarter. FC Advisory LLC now owns 2,576 shares of the iPhone maker's stock valued at $371,000 after buying an additional 10 shares in the last quarter. Burney Co. raised its position in Apple by 0.5% in the fourth quarter. FC Advisory LLC boosted its stake in Apple by 0.4% in the second quarter.
ILLEGAL ACTIVITY NOTICE: "Henderson Group PLC Boosts Position in Apple Inc".
Apple (NASDAQ:AAPL) declined 0.52% on early Monday, reaching $148.72.
The shares gained about 3 per cent in extended trading after closing at $US150.05 in NY.
Apple's services unit had sales of almost $7.3bn during the three months to the end of June, a rise of 22% higher on the same period previous year. The firm's 50-day moving average price is $146.91 and its 200-day moving average price is $142.37.
Apple (NASDAQ:AAPL) previously issued its earnings report on early Tue, May 2nd. On average, equities research analysts forecast that Apple will post $8.87 earnings per share for the current year. Apple's gross margins declined by 140bps when the company introduced its iPhone 6 (meaningful form factor changes).
New iPhones typically go on sale in mid- to late September, which produces a few weeks of revenue that are included in the company's fiscal fourth-quarter results.
Putting Apple's financial performance over the past three months into perspective, analysts on Wall St. were expecting Apple to post revenue in the $44 billion to $46 billion range with EPS projections falling in the $1.57 range. The company has a market capitalization of $778.37 billion, a P/E ratio of 17.51 and a beta of 1.31. This buyback authorization permits the iPhone maker to reacquire up to 6.5% 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.
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Several research firms have commented on AAPL. Nomura reiterated a buy rating and issued a $135.00 price objective on shares of Apple in a report on Thursday, March 23rd. Hilliard Lyons raised their price objective on shares of Apple from $147.00 to $170.00 and gave the stock a "buy" rating in a research note on Monday, May 15th. Apple presently has a consensus rating of "Buy" and a consensus target price of $161.67. Also, insider Luca Maestri sold 4,757 shares of Apple stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $155.32, for a total value of $1,855,918.68.
Consider, since hitting a record high of $156.65 per share in May, the shares have fallen as much as 10% to a low of around $142, driven by rumors that the company's highly-anticipated iPhone 8 could be delayed.
For the first time in 14 quarters iPad shipments increased, rising by 15% to 11.42 million units behind strong sales to schools and businesses. Following the completion of the transaction, the insider now directly owns 3,414 shares of the company's stock, valued at $528,145.80. The disclosure for this sale can be found here. Insiders sold a total of 373,000 shares of company stock valued at $56,497,046 over the last 90 days.