Aries Wealth Management lessened its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 97.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,612 shares of the iPhone maker’s stock after selling 273,425 shares during the quarter. Aries Wealth Management’s holdings in Apple were worth $1,329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently bought and sold shares of AAPL. Daniels&Tansey LLP raised its holdings in shares of Apple by 1.6% during the 4th quarter. Daniels&Tansey LLP now owns 3,858 shares of the iPhone maker’s stock valued at $685,000 after buying an additional 60 shares in the last quarter. Donald L. Hagan LLC raised its holdings in shares of Apple by 0.3% during the 1st quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock valued at $3,181,000 after buying an additional 61 shares in the last quarter. Goodwin Daniel L raised its holdings in shares of Apple by 0.5% during the 1st quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock valued at $2,230,000 after buying an additional 62 shares in the last quarter. Hanlon Investment Management Inc. increased its stake in Apple by 0.7% in the 4th quarter. Hanlon Investment Management Inc. now owns 10,124 shares of the iPhone maker’s stock worth $1,798,000 after purchasing an additional 66 shares during the period. Finally, Investors Research Corp increased its stake in Apple by 0.4% in the 1st quarter. Investors Research Corp now owns 16,117 shares of the iPhone maker’s stock worth $2,814,000 after purchasing an additional 66 shares during the period. Institutional investors own 57.98% of the company’s stock.
Analysts Set New Price Targets
AAPL has been the topic of a number of analyst reports. StockNews.com initiated coverage on Apple in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Rosenblatt Securities decreased their price target on Apple from $184.00 to $168.00 and set a “neutral” rating on the stock in a research note on Monday, May 2nd. The Goldman Sachs Group set a $130.00 price target on Apple in a research note on Tuesday. Barclays decreased their price target 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, Oppenheimer reiterated an “outperform” rating and issued a $190.00 price objective on shares of Apple in a research report on Wednesday, June 8th. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $182.73.
Apple Stock Down 0.8 %
AAPL stock opened at $154.09 on Friday. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The business has a fifty day moving average price of $142.90 and a 200-day moving average price of $158.03. 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 stock has a market capitalization of $2.49 trillion, a P/E ratio of 25.01, a P/E/G ratio of 1.98 and a beta of 1.19.
Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings results on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share 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 firm had revenue of $97.28 billion during the quarter, compared to analysts’ expectations of $93.99 billion. During the same quarter in the previous year, the business earned $1.40 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. Equities analysts forecast that Apple Inc. will post 6.09 earnings per share for the current fiscal year.
Apple Increases Dividend
The firm also recently declared 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 represents a $0.92 annualized dividend and a dividend yield of 0.60%. This is a boost from Apple’s previous quarterly dividend of $0.22. Apple’s payout ratio is currently 14.94%.
Apple announced that its board has approved a share repurchase plan on Thursday, April 28th that permits the company to buyback $90.00 billion in shares. This buyback authorization permits the iPhone maker to reacquire up to 3.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.
Insider Activity at Apple
In related news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the completion of the sale, the senior vice president now owns 452,334 shares in the company, valued at $73,151,454.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is owned by company 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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