Investor Carl Icahn buys another $1.65B in Apple stock as shares head toward 7-for-1 split
Billionaire investor Carl Icahn, who is known to use his substantial clout to steer public companies' financial policies, recently boosted his stake in Apple by 2.8 million shares worth nearly $1.65 billion.
Icahn's latest position was revealed in a Securities and Exchange Commission filing on Thursday and shows the activist investor now has more than 7.5 million AAPL shares, reports The Wall Street Journal.
At the end of trading today Apple's stock dipped to $588.82, meaning Icahn's stake in the company is worth over $4.4 billion.
The bullish buy was recorded for the March period, which came just before Apple announced a 7-to-1 stock split and share repurchase program. The board increased buyback authorization to $90 billion from a previous $60 billion, while the stock split will take place on June 2 with split-adjusted trading to commence on June 9.
In addition to the split and share buyback initiatives, Apple's board also approved an 8 percent bump to its quarterly cash dividend, bringing the figure up to $3.29 per share. That's up from the previous $3.05 per share, per quarter.
Icahn's move can be seen as a stamp of approval for the decisions made by Apple's board. The investor first revealed his "large position" in Apple last August in a tweet saying he met with CEO Tim Cook to push for a larger stock buyback to boost earnings. It was later reported that Icahn owned about $1.5 billion worth of AAPL stock at the time.
In the months following, Icahn turned up the heat on a prospective stock buyback, going so far as to file a shareholder proxy vote regarding the matter.
Following a series of additional share purchases -- and an increase in Apple's repurchase program -- Icahn dropped his aggressive effort, saying at the time that further actions were unnecessary given the company was "so close" to reaching his proposed target.
Icahn's latest position was revealed in a Securities and Exchange Commission filing on Thursday and shows the activist investor now has more than 7.5 million AAPL shares, reports The Wall Street Journal.
At the end of trading today Apple's stock dipped to $588.82, meaning Icahn's stake in the company is worth over $4.4 billion.
The bullish buy was recorded for the March period, which came just before Apple announced a 7-to-1 stock split and share repurchase program. The board increased buyback authorization to $90 billion from a previous $60 billion, while the stock split will take place on June 2 with split-adjusted trading to commence on June 9.
In addition to the split and share buyback initiatives, Apple's board also approved an 8 percent bump to its quarterly cash dividend, bringing the figure up to $3.29 per share. That's up from the previous $3.05 per share, per quarter.
Icahn's move can be seen as a stamp of approval for the decisions made by Apple's board. The investor first revealed his "large position" in Apple last August in a tweet saying he met with CEO Tim Cook to push for a larger stock buyback to boost earnings. It was later reported that Icahn owned about $1.5 billion worth of AAPL stock at the time.
In the months following, Icahn turned up the heat on a prospective stock buyback, going so far as to file a shareholder proxy vote regarding the matter.
Following a series of additional share purchases -- and an increase in Apple's repurchase program -- Icahn dropped his aggressive effort, saying at the time that further actions were unnecessary given the company was "so close" to reaching his proposed target.
Comments
I was thinking he is dead. Here comes again.
Imagine that guy with his 7.5 million shares and the daily swings that he sees.
Small time investors or traders like me don't like to hold any stock and see that they're hundreds or thousands of dollars down on any given day, but if there's a typical day where AAPL is down $10, then Icahn's account would have 75 million dollars less in it than it did at the beginning of the day.
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It must be nice to have that much money.
And after the split, the guy is going to own more than 50 million shares of AAPL.
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Today that is 7.5 MM x ($5.05) = ($37,875,000.00). That's a pretty big loss for most people.
You're like the herpes Karl.. The Icahn Strain.... Last warning.
Today that is 7.5 MM x ($5.05) = ($37,875,000.00). That's a pretty big loss for most people.
What loss? He didn't sell any of it.
What loss? He didn't sell any of it.
True. He still owns as many shares as he did before the day started.
The main way to lose money in the stock market is to sell something for a cheaper price than what they bought it for. A simple concept, but because of panic sellers and other kinds of people, many people do lose money it seems.
Why?
Because iCahn
He may be a jerk, but he's not an idiot.
Exactly. He's a total asshole- ruins companies and Fs over the employees and other shareholders just to make himself more rich. He'll burn- thats for sure.
That said- I agree with him completely. Apple made 33% on their share buybacks from this time last year- almost $15 billion. No purchase or headphones or any outside investment is better than that.
My gut tells me that going down the road, this guy is bad news.
I don't really have any problems with Icahn, because he seems to put his money where his mouth is, and he has continuously said that Apple is undervalued and that Apple shares are cheap. Even when AAPL has dropped when they've missed earnings, he's just bought up more. He's definitely better than all of the people who spread FUD about Apple and those ignorant fools who claim that AAPL is overvalued.
So what if his main goal is to make money? That's mine too, and that's also most people's goal, unless they are complete liars.
I wouldn't want him to be in charge of Apple, but I don't mind if he's putting billions of dollars into AAPL.
Wouldn't it be amazing if Carl Icahn actually did something important & positive for the world, instead of simply trying to make more money?
Wouldn't it be amazing if you actually did something important and positive for the world, instead of simply telling other people what to do with their money?
[B][I][SIZE=4][COLOR=#09c]However Much Carl Icahn Makes Another Buys in Apple stock, As Long As Market is Manipulated by VILLAIN, It's OF NO USE ![/COLOR][/SIZE][/I][/B]
[B][I][SIZE=5][COLOR=blue]We Call It " ENGINEERED AAPL[B][I][SIZE=5][COLOR=#f06] NIAGARA-FALL PLUNGE [/COLOR][/SIZE][/I][/B]SCHEME " by VILLAIN !!!!!![/COLOR][/SIZE][/I][/B]
[IMG ALT=""]http://forums.appleinsider.com/content/type/61/id/43279/width/500/height/1000[/IMG]
[IMG ALT=""]http://forums.appleinsider.com/content/type/61/id/43283/width/500/height/1000[/IMG]
[B][I][SIZE=5][COLOR=blue]Ugly Latest " ENGINEERED AAPL[B][I][SIZE=5][COLOR=#f06] DECCAN PLATEAU SUPPRESSION [/COLOR][/SIZE][/I][/B]SCHEME " by VILLAIN !!![/COLOR][/SIZE][/I][/B]
[IMG ALT=""]http://forums.appleinsider.com/content/type/61/id/43282/width/500/height/1000[/IMG]
[IMG ALT=""]http://forums.appleinsider.com/content/type/61/id/43281/width/500/height/1000[/IMG]
[B][I][SIZE=5][COLOR=#f06]Let's FILE A CLASS ACTION SUIT Against NASD, NASD Regulation, Nasdaq Stock Market and Against ALL Those Concerned with " Manipulating Market ", " Fraud Transactions " and " Runaway EXPLOITATION " Relating to AAPL out of Market ![/COLOR][/SIZE][/I][/B]
[B][I][SIZE=4]What We've Learnt out of Latest Apple-Shamesung Court Procedure is We Can HAVE The ENEMY to BE FORCED to SUBMIT Their MOST CONFIDENTIAL TOP SECRET DOCS. [/SIZE][/I][/B]
[B][I][SIZE=4][COLOR=blue]If We, ETHICAL & Healthy LONG-Term( NEVER Short-SELL Oriented SPECULATORS ) AAPL Investers ALL OVER THE WORLD, Unite for The SAKE of DEFENCE of OUR OWN ASSETS, That Will HELP to REVEAL What The Ugly ENTITY of Current Stock Market and Transactions !
[/COLOR][/SIZE][/I][/B]
<randomly copied and pasted internet half sentences and unrelated photos>
Just say no to drugs
Are You An AMATEUR to Stock Market, OR " Henchman " of VILLAIN ?
Haven't You EVER Heard Such Terms As " Front Running ", " Spoofing " & " Layering " etc. etc. To Name A Few ?
NO ONE Believes NOW that Current Stock Market is FAIR, HEALTHY & APPROPRIATE to Any Invester ANY MORE !!!!!!
" Shenanigans in The Market EXIST. "
" Market is RIGGED. "
That's AN OPEN SECRET to Us.
Are You An AMATEUR to Stock Market, OR " Henchman " of VILLAIN ?
Is this some kind of sophisticated spam?