filings.toolsItem 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
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Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
The Company’s common stock is traded on the Nasdaq Stock Market LLC (“Nasdaq”) under the symbol AAPL.
Price Range of Common Stock
The price range per share of common stock presented below represents the highest and lowest intraday sales prices for the Company’s common stock on the Nasdaq during each quarter of the two most recent years.
| Fourth Quarter | Third Quarter | Second Quarter | First Quarter | ||||
| 2017 price range per share | $164.94 – $142.41 | $156.65 – $140.06 | $144.50 – $114.76 | $118.69 – $104.08 | |||
| 2016 price range per share | $116.18 – $91.50 | $112.39 – $89.47 | $109.43 – $92.39 | $123.82 – $105.57 |
Holders
As of October 20, 2017, there were 25,333 shareholders of record.
Dividends
The Company paid a total of $12.6 billion and $12.0 billion in dividends during 2017 and 2016, respectively, and expects to pay quarterly dividends of $0.63 per common share each quarter, subject to declaration by the Board of Directors. The Company also plans to increase its dividend on an annual basis, subject to declaration by the Board of Directors.
Apple Inc. | 2017 Form 10-K | 18
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
Share repurchase activity during the three months ended September 30, 2017 was as follows (in millions, except number of shares, which are reflected in thousands, and per share amounts):
| Periods | Total Number of Shares Purchased | Average Price Paid Per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | Approximate Dollar Value of Shares That May Yet Be Purchased Under the Plans or Programs (1) | ||||||||||
| July 2, 2017 to August 5, 2017: | ||||||||||||||
| Open market and privately negotiated purchases | 10,076 | $ | 148.87 | 10,076 | ||||||||||
| August 6, 2017 to September 2, 2017: | ||||||||||||||
| May 2017 ASR | 4,510 | (2) | 4,510 | |||||||||||
| August 2017 ASR | 15,069 | (3) | (3) | 15,069 | (3) | |||||||||
| Open market and privately negotiated purchases | 9,684 | $ | 160.06 | 9,684 | ||||||||||
| September 3, 2017 to September 30, 2017: | ||||||||||||||
| Open market and privately negotiated purchases | 9,313 | $ | 155.69 | 9,313 | ||||||||||
| Total | 48,652 | $ | 44,023 |
| (1) | In May 2017, the Company’s Board of Directors increased the Company’s share repurchase authorization from $175 billion to $210 billion of the Company’s common stock, of which $166 billion had been utilized as of September 30, 2017. The remaining $44 billion in the table represents the amount available to repurchase shares under the authorized repurchase program as of September 30, 2017. The Company’s share repurchase program does not obligate it to acquire any specific number of shares. Under the program, shares may be repurchased in privately negotiated and/or open market transactions, including under plans complying with Rule 10b5-1 under the Exchange Act. |
| (2) | In May 2017, the Company entered into an accelerated share repurchase arrangement (“ASR”) to purchase up to $3.0 billion of the Company’s common stock. In August 2017, the purchase period for this ASR ended and an additional 4.5 million shares were delivered and retired. In total, 20.1 million shares were delivered under this ASR at an average repurchase price of $149.20. |
| (3) | In August 2017, the Company entered into a new ASR to purchase up to $3.0 billion of the Company’s common stock. In exchange for an up-front payment of $3.0 billion, the financial institution party to the arrangement committed to deliver shares to the Company during the ASR’s purchase period, which will end in November 2017. The total number of shares ultimately delivered, and therefore the average price paid per share, will be determined at the end of the applicable purchase period based on the volume-weighted average price of the Company’s common stock during that period. |
Apple Inc. | 2017 Form 10-K | 19
Company Stock Performance
The following graph shows a comparison of cumulative total shareholder return, calculated on a dividend reinvested basis, for the Company, the S&P 500 Index, the S&P Information Technology Index and the Dow Jones U.S. Technology Supersector Index for the five years ended September 30, 2017. The graph assumes $100 was invested in each of the Company’s common stock, the S&P 500 Index, the S&P Information Technology Index and the Dow Jones U.S. Technology Supersector Index as of the market close on September 28, 2012. Note that historic stock price performance is not necessarily indicative of future stock price performance.
| * | $100 invested on 9/28/12 in stock or index, including reinvestment of dividends. Data points are the last day of each fiscal year for the Company’s common stock and September 30th for indexes. |
Copyright© 2017 S&P, a division of McGraw Hill Financial. All rights reserved.
Copyright© 2017 Dow Jones & Co. All rights reserved.
| September 2012 | September 2013 | September 2014 | September 2015 | September 2016 | September 2017 | |||||||||||||||||||
| Apple Inc. | $ | 100 | $ | 74 | $ | 111 | $ | 128 | $ | 129 | $ | 179 | ||||||||||||
| S&P 500 Index | $ | 100 | $ | 119 | $ | 143 | $ | 142 | $ | 164 | $ | 194 | ||||||||||||
| S&P Information Technology Index | $ | 100 | $ | 107 | $ | 138 | $ | 141 | $ | 173 | $ | 223 | ||||||||||||
| Dow Jones U.S. Technology Supersector Index | $ | 100 | $ | 105 | $ | 137 | $ | 137 | $ | 167 | $ | 214 |
Apple Inc. | 2017 Form 10-K | 20
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