Bell & Brown Wealth Advisors LLC cut its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 5.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 67,738 shares of the iPhone maker’s stock after selling 4,277 shares during the quarter. Apple comprises 5.4% of Bell & Brown Wealth Advisors LLC’s holdings, making the stock its 2nd biggest position. Bell & Brown Wealth Advisors LLC’s holdings in Apple were worth $11,828,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in AAPL. Elk River Wealth Management LLC lifted its position in Apple by 49.0% during the 1st quarter. Elk River Wealth Management LLC now owns 167,122 shares of the iPhone maker’s stock worth $29,181,000 after buying an additional 54,989 shares in the last quarter. Piscataqua Savings Bank raised its holdings in Apple by 1.5% during the first quarter. Piscataqua Savings Bank now owns 47,546 shares of the iPhone maker’s stock worth $8,302,000 after acquiring an additional 684 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in Apple during the first quarter valued at approximately $171,000. Fountainhead AM LLC grew its stake in Apple by 11.6% in the fourth quarter. Fountainhead AM LLC now owns 45,544 shares of the iPhone maker’s stock valued at $7,732,000 after purchasing an additional 4,738 shares in the last quarter. Finally, Primoris Wealth Advisors LLC acquired a new position in shares of Apple during the 4th quarter worth approximately $4,282,000. Institutional investors and hedge funds own 57.98% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on AAPL shares. Oppenheimer reissued an “outperform” rating and issued a $190.00 price objective on shares of Apple in a report on Wednesday, June 8th. UBS Group set a $185.00 price objective on shares of Apple in a research note on Thursday, July 21st. Deutsche Bank Aktiengesellschaft set a $175.00 target price on shares of Apple in a research note on Monday, August 1st. Evercore ISI boosted their price target on Apple from $180.00 to $185.00 in a research report on Friday, July 29th. Finally, Loop Capital cut their price objective on Apple from $210.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, May 25th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus price target of $179.27.
Apple Stock Performance
Shares of NASDAQ:AAPL opened at $172.10 on Friday. The company’s 50 day simple moving average is $147.72 and its 200 day simple moving average is $157.21. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The stock has a market capitalization of $2.77 trillion, a price-to-earnings ratio of 28.40, a price-to-earnings-growth ratio of 2.19 and a beta of 1.23.
Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. The company had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. Apple’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.30 EPS. As a group, research analysts predict that Apple Inc. will post 6.1 EPS for the current fiscal year.
Apple Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s dividend payout ratio (DPR) is presently 15.18%.
Apple declared that its Board of Directors has initiated a stock buyback program on Thursday, April 28th that authorizes the company to buyback $90.00 billion in shares. This buyback authorization authorizes the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
Insider Buying and Selling
In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the sale, the senior vice president now owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.06% of the stock is owned by corporate insiders.
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.
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