B & T Capital Management DBA Alpha Capital Management Has $4.71 Million Position in Apple Inc. (AAPL)

B & T Capital Management DBA Alpha Capital Management lowered its stake in Apple Inc. (NASDAQ:AAPL) by 0.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,669 shares of the iPhone maker’s stock after selling 137 shares during the period. Apple comprises approximately 2.3% of B & T Capital Management DBA Alpha Capital Management’s portfolio, making the stock its 4th largest position. B & T Capital Management DBA Alpha Capital Management’s holdings in Apple were worth $4,705,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of AAPL. Concentric Wealth Management LLC purchased a new stake in Apple during the fourth quarter valued at approximately $312,000. JT Stratford LLC purchased a new stake in Apple during the fourth quarter valued at approximately $3,591,000. Coldstream Capital Management Inc. raised its stake in Apple by 17.2% in the fourth quarter. Coldstream Capital Management Inc. now owns 66,577 shares of the iPhone maker’s stock valued at $7,711,000 after buying an additional 9,753 shares during the last quarter. New Capital Management LP purchased a new stake in Apple during the fourth quarter valued at approximately $2,502,000. Finally, Private Advisor Group LLC raised its stake in Apple by 0.7% in the fourth quarter. Private Advisor Group LLC now owns 567,617 shares of the iPhone maker’s stock valued at $67,825,000 after buying an additional 4,013 shares during the last quarter. Institutional investors and hedge funds own 61.13% of the company’s stock.

Apple Inc. (AAPL) opened at 157.48 on Friday. The firm has a 50-day moving average price of $149.92 and a 200-day moving average price of $144.27. The company has a market cap of $813.42 billion, a PE ratio of 17.88 and a beta of 1.31. Apple Inc. has a 52-week low of $102.53 and a 52-week high of $161.83.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.10. Apple had a return on equity of 35.40% and a net margin of 20.87%. The firm had revenue of $45.41 billion for the quarter, compared to analysts’ expectations of $44.94 billion. During the same quarter last year, the firm posted $1.42 EPS. The company’s revenue was up 7.2% compared to the same quarter last year. On average, analysts forecast that Apple Inc. will post $9.02 EPS for the current year.

Apple declared that its board has initiated a stock repurchase program on Tuesday, May 2nd that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to purchase up to 6.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Monday, August 14th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.60%. Apple’s dividend payout ratio is 28.64%.

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AAPL has been the subject of several research reports. Keefe, Bruyette & Woods set a $170.00 price target on shares of Apple and gave the stock a “buy” rating in a research note on Monday, May 22nd. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $170.00 price target on shares of Apple in a research note on Wednesday, June 21st. Nomura restated a “buy” rating and issued a $165.00 price target on shares of Apple in a research note on Wednesday, July 5th. Barclays PLC set a $123.00 target price on shares of Apple and gave the stock a “neutral” rating in a research note on Wednesday, May 3rd. Finally, Morgan Stanley reiterated an “overweight” rating and set a $177.00 target price (up previously from $161.00) on shares of Apple in a research note on Wednesday, May 17th. Twelve research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $167.35.

In related news, insider Craig Federighi sold 64,500 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $153.62, for a total transaction of $9,908,490.00. Following the transaction, the insider now directly owns 447,151 shares of the company’s stock, valued at approximately $68,691,336.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Arthur D. Levinson sold 35,000 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $157.58, for a total value of $5,515,300.00. Following the transaction, the director now directly owns 1,168,283 shares in the company, valued at $184,098,035.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 299,911 shares of company stock worth $46,557,634. 0.08% of the stock is currently owned by insiders.

About Apple

Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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