Private Capital Advisors Inc. boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 361,669 shares of the iPhone maker’s stock after acquiring an additional 1,081 shares during the quarter. Apple accounts for 9.2% of Private Capital Advisors Inc.’s portfolio, making the stock its 2nd biggest holding. Private Capital Advisors Inc.’s holdings in Apple were worth $63,151,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the business. Daniels&Tansey LLP grew its holdings in Apple by 1.6% during the fourth quarter. Daniels&Tansey LLP now owns 3,858 shares of the iPhone maker’s stock worth $685,000 after acquiring an additional 60 shares during the period. Donald L. Hagan LLC grew its holdings in Apple by 0.3% during the first quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock worth $3,181,000 after acquiring an additional 61 shares during the period. Goodwin Daniel L grew its holdings in Apple by 0.5% during the first quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock worth $2,230,000 after acquiring an additional 62 shares during the period. Hanlon Investment Management Inc. grew its holdings in Apple by 0.7% during the fourth quarter. Hanlon Investment Management Inc. now owns 10,124 shares of the iPhone maker’s stock worth $1,798,000 after acquiring an additional 66 shares during the period. Finally, Investors Research Corp grew its holdings in Apple by 0.4% during the first quarter. Investors Research Corp now owns 16,117 shares of the iPhone maker’s stock worth $2,814,000 after acquiring an additional 66 shares during the period. Hedge funds and other institutional investors own 57.98% of the company’s stock.
In other news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $161.72, for a total value of $4,043,000.00. Following the completion of the sale, the senior vice president now directly owns 452,334 shares of the company’s stock, valued at $73,151,454.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.06% of the company’s stock.
Apple Price Performance
AAPL stock opened at $155.35 on Friday. The business has a fifty day moving average of $142.76 and a two-hundred day moving average of $158.20. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 1.53. The stock has a market cap of $2.51 trillion, a price-to-earnings ratio of 25.22, a price-to-earnings-growth ratio of 1.96 and a beta of 1.19. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94.
Apple (NASDAQ:AAPL – Get Rating) last posted its earnings results on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.09. Apple had a return on equity of 152.88% and a net margin of 26.41%. The company had revenue of $97.28 billion during the quarter, compared to analysts’ expectations of $93.99 billion. During the same quarter last year, the firm earned $1.40 earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, research analysts anticipate that Apple Inc. will post 6.09 earnings per share for the current year.
Apple announced that its Board of Directors has authorized a share buyback plan on Thursday, April 28th that permits the company to repurchase $90.00 billion in shares. This repurchase authorization permits the iPhone maker to purchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
Apple Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 12th. Stockholders of record on Monday, May 9th were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, May 6th. This is a boost from Apple’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.59%. Apple’s payout ratio is presently 14.94%.
Wall Street Analysts Forecast Growth
Several analysts recently commented on AAPL shares. KeyCorp dropped their target price on Apple from $191.00 to $173.00 and set an “overweight” rating on the stock in a report on Tuesday, July 12th. Evercore ISI lowered their price target on Apple from $210.00 to $180.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 28th. The Goldman Sachs Group set a $130.00 price target on Apple in a research report on Tuesday. Wells Fargo & Company lowered their price target on Apple from $205.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Fundamental Research lowered their price target on Apple from $179.32 to $175.24 and set an “average” rating on the stock in a research report on Friday, May 6th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $182.73.
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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