Wealth Advisors of Tampa Bay LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 105,602 shares of the iPhone maker’s stock after selling 650 shares during the quarter. Apple accounts for about 5.0% of Wealth Advisors of Tampa Bay LLC’s portfolio, making the stock its largest position. Wealth Advisors of Tampa Bay LLC’s holdings in Apple were worth $18,437,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also modified their holdings of the stock. Private Ocean LLC increased its position in shares of Apple by 0.3% during the first quarter. Private Ocean LLC now owns 135,107 shares of the iPhone maker’s stock worth $23,591,000 after acquiring an additional 391 shares during the period. Grace & White Inc. NY grew its stake in shares of Apple by 4.7% during the first quarter. Grace & White Inc. NY now owns 11,219 shares of the iPhone maker’s stock worth $1,959,000 after purchasing an additional 500 shares in the last quarter. Kovitz Investment Group Partners LLC grew its stake in shares of Apple by 2.8% during the first quarter. Kovitz Investment Group Partners LLC now owns 1,289,496 shares of the iPhone maker’s stock worth $225,159,000 after purchasing an additional 35,171 shares in the last quarter. Econ Financial Services Corp grew its stake in shares of Apple by 29.1% during the first quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock worth $74,000 after purchasing an additional 95 shares in the last quarter. Finally, First National Bank of Hutchinson grew its stake in shares of Apple by 2.7% during the first quarter. First National Bank of Hutchinson now owns 33,893 shares of the iPhone maker’s stock worth $5,918,000 after purchasing an additional 877 shares in the last quarter. Hedge funds and other institutional investors own 57.98% of the company’s stock.
Insider Transactions at Apple
In related news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the sale, the senior vice president now owns 452,334 shares in the company, valued at $73,151,454.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages recently commented on AAPL. Wells Fargo & Company lowered their target price on shares of Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday. Deutsche Bank Rese… set a $210.00 target price on shares of Apple in a research note on Friday, April 8th. Piper Sandler lowered their target price on shares of Apple from $200.00 to $195.00 in a research note on Friday, April 29th. StockNews.com started coverage on shares of Apple in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Fundamental Research decreased their price objective on shares of Apple from $179.32 to $175.24 and set an “average” rating for the company in a research note on Friday, May 6th. Nine research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $182.73.
Apple Trading Down 0.8 %
Shares of AAPL opened at $154.09 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.93 and a quick ratio of 0.88. The firm has a 50 day simple moving average of $142.90 and a 200-day simple moving average of $158.03. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The stock has a market cap of $2.49 trillion, a price-to-earnings ratio of 25.01, a price-to-earnings-growth ratio of 1.98 and a beta of 1.19.
Apple (NASDAQ:AAPL – Get Rating) last issued its quarterly earnings data on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.09. Apple had a net margin of 26.41% and a return on equity of 152.88%. The business had revenue of $97.28 billion during the quarter, compared to analysts’ expectations of $93.99 billion. During the same period last year, the company posted $1.40 EPS. The company’s revenue was up 8.6% on a year-over-year basis. Equities analysts forecast that Apple Inc. will post 6.09 EPS for the current fiscal year.
Apple announced that its Board of Directors has initiated a share buyback program on Thursday, April 28th that permits the company to buyback $90.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
Apple Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 12th. Stockholders of record on Monday, May 9th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.60%. This is a boost from Apple’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, May 6th. Apple’s dividend payout ratio (DPR) is 14.94%.
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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