OSLO: Norway Savings Bank acquired a new stake in Apple Inc. during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission.
The institutional investor acquired 27,925 shares of the iPhone maker’s stock, valued at approximately $3,235,000. Apple accounts for about 3.0% of Norway Savings Bank’s holdings, making the stock its 5th largest position.
Several other hedge funds have also modified their holdings of the company. Armbruster Capital Management Inc. boosted its stake in shares of Apple by 35.1% in the third quarter. Armbruster Capital Management Inc. now owns 1,024 shares of the iPhone maker’s stock valued at $116,000 after buying an additional 266 shares in the last quarter. Weaver C. Barksdale & Associates Inc. acquired a new stake in shares of Apple during the third quarter valued at $122,000. D. Scott Neal Inc. boosted its stake in shares of Apple by 701.3% in the third quarter.
D. Scott Neal Inc. now owns 1,202 shares of the iPhone maker’s stock valued at $136,000 after buying an additional 1,052 shares in the last quarter. Isthmus Partners LLC boosted its stake in shares of Apple by 80.5% in the third quarter. Isthmus Partners LLC now owns 1,343 shares of the iPhone maker’s stock valued at $158,000 after buying an additional 599 shares in the last quarter. Finally, Parametrica Management Ltd acquired a new stake in shares of Apple during the third quarter valued at $203,000. 58.76% of the stock is currently owned by institutional investors.
Apple Inc. opened at 136.53 on Friday. The stock has a market capitalization of $716.31 billion, a PE ratio of 16.39 and a beta of 1.26. Apple Inc. has a 12-month low of $89.47 and a 12-month high of $137.48. The stock’s 50 day moving average is $126.15 and its 200 day moving average is $115.51.
Apple last posted its quarterly earnings results on Tuesday, January 31st. The iPhone maker reported $3.36 EPS for the quarter, topping the Zacks’ consensus estimate of $3.22 by $0.14. The firm had revenue of $78.35 billion for the quarter, compared to analysts’ expectations of $77.37 billion. Apple had a net margin of 20.73% and a return on equity of 34.94%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis.
During the same period in the prior year, the business posted $3.28 earnings per share. Equities analysts anticipate that Apple Inc. will post $8.93 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 16th. Shareholders of record on Monday, February 13th were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend was Thursday, February 9th. Apple’s payout ratio is 27.31%.
