Peregrine Asset Advisers Inc. Increases Position in Apple (AAPL)

Peregrine Asset Advisers Inc. lifted its position in shares of Apple (NASDAQ:AAPL) by 3.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,236 shares of the iPhone maker’s stock after buying an additional 535 shares during the period. Apple comprises 1.3% of Peregrine Asset Advisers Inc.’s investment portfolio, making the stock its 29th largest position. Peregrine Asset Advisers Inc.’s holdings in Apple were worth $2,579,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Truepoint Inc. increased its stake in Apple by 15,559.4% in the 3rd quarter. Truepoint Inc. now owns 4,436,774 shares of the iPhone maker’s stock worth $4,437,000 after purchasing an additional 4,408,441 shares during the period. Harding Loevner LP increased its stake in Apple by 784,734.3% in the 3rd quarter. Harding Loevner LP now owns 3,296,304 shares of the iPhone maker’s stock worth $188,966,000 after purchasing an additional 3,295,884 shares during the period. Atlantic Trust Group LLC increased its stake in Apple by 36.2% in the 3rd quarter. Atlantic Trust Group LLC now owns 3,641,534 shares of the iPhone maker’s stock worth $561,233,000 after purchasing an additional 968,385 shares during the period. DnB Asset Management AS increased its stake in Apple by 57.5% in the 4th quarter. DnB Asset Management AS now owns 1,591,868 shares of the iPhone maker’s stock worth $269,392,000 after purchasing an additional 581,318 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in Apple by 3.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 19,262,302 shares of the iPhone maker’s stock worth $3,259,868,000 after purchasing an additional 570,279 shares during the period. 58.19% of the stock is currently owned by institutional investors.

Several equities analysts have recently issued reports on the company. Atlantic Securities reissued a “neutral” rating and set a $185.00 target price on shares of Apple in a research note on Wednesday, May 2nd. Sanford C. Bernstein reissued a “neutral” rating and set a $170.00 target price on shares of Apple in a research note on Thursday, April 26th. Morgan Stanley reissued a “buy” rating and set a $205.00 target price (up from $200.00) on shares of Apple in a research note on Tuesday, January 23rd. HSBC set a $204.00 target price on Apple and gave the company a “buy” rating in a research note on Tuesday, January 30th. Finally, Vetr raised Apple from a “hold” rating to a “buy” rating and set a $184.49 target price on the stock in a research note on Monday, March 5th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the company. Apple presently has a consensus rating of “Buy” and a consensus target price of $204.00.

Shares of Apple opened at $186.31 on Monday, MarketBeat Ratings reports. The firm has a market cap of $945.34 billion, a PE ratio of 20.23, a price-to-earnings-growth ratio of 1.38 and a beta of 1.26. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.37 and a current ratio of 1.46. Apple has a 1 year low of $142.20 and a 1 year high of $190.37.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, May 1st. The iPhone maker reported $2.73 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.04. The company had revenue of $61.14 billion during the quarter, compared to analysts’ expectations of $60.94 billion. Apple had a return on equity of 39.97% and a net margin of 21.55%. Apple’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.10 earnings per share. research analysts predict that Apple will post 11.43 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 17th. Investors of record on Monday, May 14th were given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date was Friday, May 11th. This is a boost from Apple’s previous quarterly dividend of $0.63. Apple’s dividend payout ratio is 31.70%.

Apple announced that its board has approved a share repurchase plan on Tuesday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to reacquire up to 11.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.

In related news, insider Philip W. Schiller sold 69,491 shares of the company’s stock in a transaction on Tuesday, April 3rd. The stock was sold at an average price of $166.42, for a total transaction of $11,564,692.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,867 shares of the company’s stock in a transaction on Wednesday, May 16th. The shares were sold at an average price of $187.00, for a total value of $910,129.00. Following the sale, the insider now owns 8,433 shares of the company’s stock, valued at approximately $1,576,971. The disclosure for this sale can be found here. In the last quarter, insiders have sold 219,736 shares of company stock valued at $38,403,373. 0.06% of the stock is owned by company insiders.

Apple Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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