Apple Inc. (NASDAQ:AAPL) Shares Sold by Brightworth

Brightworth trimmed its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 4.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 178,082 shares of the iPhone maker’s stock after selling 8,974 shares during the period. Apple accounts for about 3.2% of Brightworth’s portfolio, making the stock its 5th biggest holding. Brightworth’s holdings in Apple were worth $31,095,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Cardinal Capital Management Inc. lifted its holdings in Apple by 5,525.0% during the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after purchasing an additional 221 shares during the last quarter. Shore Point Advisors LLC acquired a new stake in Apple during the 4th quarter worth approximately $41,000. St. James Investment Advisors LLC acquired a new stake in Apple during the 4th quarter worth approximately $57,000. Emerson Wealth LLC lifted its holdings in Apple by 363.6% during the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after purchasing an additional 320 shares during the last quarter. Finally, Econ Financial Services Corp lifted its holdings in Apple by 29.1% during the 1st quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock worth $74,000 after purchasing an additional 95 shares during the last quarter. 57.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total value of $4,119,250.00. Following the transaction, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on AAPL. Piper Sandler lowered their price objective on Apple from $200.00 to $195.00 in a research note on Friday, April 29th. Evercore ISI raised their price objective on Apple from $180.00 to $185.00 in a research note on Friday, July 29th. Morgan Stanley lowered their price objective on Apple from $185.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 20th. Barclays lowered their price objective on Apple from $167.00 to $166.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 13th. Finally, Credit Suisse Group set a $166.00 price objective on Apple in a research note on Friday, July 29th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus price target of $179.27.

Apple Stock Up 0.0 %

Shares of AAPL opened at $164.92 on Wednesday. The company has a market capitalization of $2.65 trillion, a PE ratio of 27.21, a PEG ratio of 2.14 and a beta of 1.23. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63. The stock’s 50-day moving average price is $146.97 and its two-hundred day moving average price is $157.08. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. The company had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.30 EPS. On average, analysts anticipate that Apple Inc. will post 6.1 EPS for the current year.

Apple announced that its Board of Directors has approved a share repurchase plan on Thursday, April 28th that permits the company to repurchase $90.00 billion in shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Monday, August 8th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend is Friday, August 5th. Apple’s dividend payout ratio is 15.18%.

Apple Company Profile

(Get Rating)

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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