Apple Inc. (NASDAQ:AAPL)'s Revenue Grows 16%

Apple logo. Reuters

Apple logo. Reuters

Other institutional investors also recently added to or reduced their stakes in the company. Financial analysts had estimated that there would be a "slowdown" for Apple.

Apple has announced its second quarter earnings for 2018, and it's looking pretty strong. Cutler Investment Counsel LLC now owns 3,968 shares of the iPhone maker's stock worth $571,000 after buying an additional 38 shares in the last quarter. The fund owned 19,629 shares of the iPhone maker's stock after buying an additional 458 shares during the period. Apple accounts for about 4.4% of Campbell Newman Asset Management Inc.'s investment portfolio, making the stock its 2nd biggest holding. Corundum Group Inc. now owns 2,242 shares of the iPhone maker's stock worth $346,000 after acquiring an additional 299 shares in the last quarter. Finally, Carret Asset Management LLC boosted its position in Apple by 4.5% during the second quarter.

NASDAQ:AAPL opened at $176.57 on Thursday. Apple's programme dwarfs others even as stock repurchase efforts kick into high gear. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.24.

At present, Apple holds only 2.5% share in the Indian smartphone market at the end of December 2017 period and is continuously losing its share to Samsung and OnePlus in the country, as per a CounterPoint report.

Apple's planned capital return - the money it's giving to shareholders - will be larger than all but 20 S&P 500 companies.

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Even though the results were low from the preceding five years, CFO Luca Maestri said during the earnings call that the revenue growth in the March quarter was a "very strong 20% for year on year basis in emerging markets such as India, and is nearly at par with the 21% year-on-year growth in the Greater China region, the highest in the last 10 quarters". During the same period previous year, the business earned $2.10 earnings per share.

It also coincided with a bout of volatility on Wall Street in recent months, which has many investors anxious that a nine-year bull market may be ending. The Cupertino based company also announced new $100 Billion share repurchase authorization announced, and dividend raised by 16%. "Apple plans to wind that number down to nothing - mainly on share buybacks and dividends". This represents a $2.92 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Friday, May 11th.

Two possibilities that he could be referring to is a push for Apple to become the "Netflix of magazines" as was reported by Bloomberg, or the long-rumored TV show subscription service Apple is now buying content for. The shares were sold at an average price of $169.12, for a total transaction of $2,938,460.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Luca Maestri sold 39,122 shares of the firm's stock in a transaction on Friday, April 13th. The shares were sold at an average price of $166.42, for a total transaction of $11,564,692.22. The disclosure for this sale can be found here. Last year, the company had managed to sell 50.8 million units of iPhone. Company insiders own 0.06% of the company's stock. Citigroup reiterated a "focus list" rating and issued a $142.20 price target (up from $100.00) on shares of Apple in a research report on Wednesday. Atlantic Securities set a $185.00 price target on Apple and gave the company a "neutral" rating in a research report on Wednesday. Apple now has a consensus rating of "Buy" and a consensus target price of $203.58. Canaccord Genuity upped their price target on shares of Apple from $200.00 to $208.00 and gave the stock a "buy" rating in a research report on Wednesday. Apple presently has an average rating of "Buy" and an average price target of $203.58.

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.

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