Apple Inc. (NASDAQ:AAPL) is Livingston Group Asset Management CO operating as Southport Capital Management’s Largest Position

Livingston Group Asset Management CO operating as Southport Capital Management decreased its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 42.2% in the 1st quarter, Holdings Channel.com reports. The firm owned 57,659 shares of the iPhone maker’s stock after selling 42,078 shares during the period. Apple makes up 3.7% of Livingston Group Asset Management CO operating as Southport Capital Management’s investment portfolio, making the stock its largest position. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Apple were worth $10,068,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Agate Pass Investment Management LLC purchased a new position in shares of Apple during the 4th quarter valued at $7,707,000. PrairieView Partners LLC boosted its stake in Apple by 8.9% during the fourth quarter. PrairieView Partners LLC now owns 35,870 shares of the iPhone maker’s stock valued at $6,369,000 after buying an additional 2,943 shares during the period. Avantax Advisory Services Inc. grew its position in Apple by 2.3% during the fourth quarter. Avantax Advisory Services Inc. now owns 822,317 shares of the iPhone maker’s stock worth $146,022,000 after buying an additional 18,256 shares in the last quarter. MorganRosel Wealth Management LLC increased its stake in Apple by 1.1% in the 4th quarter. MorganRosel Wealth Management LLC now owns 6,394 shares of the iPhone maker’s stock worth $1,135,000 after acquiring an additional 70 shares during the last quarter. Finally, Omega Financial Group LLC increased its stake in Apple by 3.9% in the 4th quarter. Omega Financial Group LLC now owns 9,310 shares of the iPhone maker’s stock worth $1,653,000 after acquiring an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 57.98% of the company’s stock.

Apple Trading Down 0.8 %

AAPL opened at $154.09 on Friday. The business has a 50 day simple moving average of $142.90 and a two-hundred day simple moving average of $157.91. The firm has a market capitalization of $2.49 trillion, a price-to-earnings ratio of 25.01, a PEG ratio of 2.01 and a beta of 1.19. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.93 and a quick ratio of 0.88. Apple Inc. has a one year low of $129.04 and a one year high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings results on Thursday, April 28th. The iPhone maker reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.09. The business had revenue of $97.28 billion during the quarter, compared to analyst estimates of $93.99 billion. Apple had a return on equity of 152.88% and a net margin of 26.41%. Apple’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.40 EPS. Analysts predict that Apple Inc. will post 6.09 EPS for the current year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 12th. Shareholders of record on Monday, May 9th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.60%. This is a boost from Apple’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, May 6th. Apple’s payout ratio is presently 14.94%.

Apple announced that its board has authorized a stock buyback plan on Thursday, April 28th that permits the company to buyback $90.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

AAPL has been the subject of several recent analyst reports. The Goldman Sachs Group set a $130.00 price objective on Apple in a report on Tuesday, July 19th. Deutsche Bank Rese… set a $210.00 price objective on shares of Apple in a research report on Friday, April 8th. Fundamental Research decreased their price objective on shares of Apple from $179.32 to $175.24 and set an “average” rating on the stock in a research report on Friday, May 6th. UBS Group set a $185.00 price objective on shares of Apple in a research report on Thursday. Finally, Rosenblatt Securities decreased their price objective on shares of Apple from $184.00 to $168.00 and set a “neutral” rating on the stock in a research report on Monday, May 2nd. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average price target of $182.73.

Insider Buying and Selling at Apple

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction that occurred 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 sale, the senior vice president now directly owns 452,334 shares of the company’s stock, valued at approximately $73,151,454.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.06% of the company’s stock.

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.

See Also

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPLGet Rating).



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