Bigger Apple buybacks? What Icahn may be cooking -

What could today's meeting with activist investor Carl Icahn and Apple's CEO Tim Cook mean for your portfolio? Timothy Lesko, Granite Investment Advisors, provides insight.

Some Apple shareholders are hoping Icahn will get his way.

"I can't say there is a dollar figure we want him to press for," said Timothy Lesko of Granite Investment Advisors, which has owned Apple shares for over a decade. "We would like to see them increase the payout ratio. Right now, it's at about a 27 percent payout to shareholders, and perhaps they can move up to a maybe 30 to 40 percent payout to shareholders."

While Lesko said he is happy to see Apple, under Cook's leadership, dramatically increase its payout to shareholders, there is still room for even more value to be returned.

"As we continue to see Apple deliver on its promise furthering out the iOS infrastructure and developing new products, we would just like to see it consistently increase the amount back to shareholders," Lesko said on CNBC's "Squawk on the Street."

"If they are going to generate $30 billion in free cash flow, it would just be nice to see, on a sequential basis, them to continue to give that back to shareholders."

By CNBC's Cadie Thompson. Follow her on Twitter @CadieThompson .

via apple - Google News


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