Apple’s long standing investor Carl Icahn has just bought 2.8 million shares at Apple worth close to $1.7 billion, bringing his total value in the company to $4.5 billion. He now owns a total of 7.5 million shares in Apple, making him one of the largest share holders in the company.
Apple only recently announced its plans to bring a 7:1 stock split in June which will give back shareholders $130 billion as part of its capital returns program. The company also announced the increase of its share repurchase authorization costs to $90 billion from $60 billion.
Apple repurchased $14 billion worth of its stock in January, which is something Icahn has been urging Apple to do following several meetings with the company’s top brass.
Icahn was clearly pleased with this news which has now led to him buying more stock in the company. He claimed that the stock remains “meaningfully undervalued” and that “many analysts fail to understand the company”.
In addition to increasing his stock in Apple, Icahn also disclosed his stock with eBay while decreasing his stake in Netflix. You can find the complete list of Icahn’s stock purchases in the SEC link below.
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