Clean Yield Group reduced its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 6.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 84,317 shares of the iPhone maker’s stock after selling 5,499 shares during the quarter. Apple accounts for 5.2% of Clean Yield Group’s holdings, making the stock its largest position. Clean Yield Group’s holdings in Apple were worth $14,723,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. S.E.E.D. Planning Group LLC increased its position in shares of Apple by 1.1% in the fourth quarter. S.E.E.D. Planning Group LLC now owns 67,401 shares of the iPhone maker’s stock valued at $11,968,000 after buying an additional 708 shares in the last quarter. JTC Employer Solutions Trustee Ltd increased its position in shares of Apple by 0.7% in the fourth quarter. JTC Employer Solutions Trustee Ltd now owns 101,849 shares of the iPhone maker’s stock valued at $18,088,000 after buying an additional 683 shares in the last quarter. Financial Council Asset Management Inc increased its position in shares of Apple by 0.5% in the fourth quarter. Financial Council Asset Management Inc now owns 38,065 shares of the iPhone maker’s stock valued at $6,759,000 after buying an additional 200 shares in the last quarter. Pennsylvania Capital Management Inc. ADV increased its position in shares of Apple by 47.5% in the fourth quarter. Pennsylvania Capital Management Inc. ADV now owns 332,109 shares of the iPhone maker’s stock valued at $58,972,000 after buying an additional 106,971 shares in the last quarter. Finally, Baskin Financial Services Inc. increased its position in shares of Apple by 0.5% in the fourth quarter. Baskin Financial Services Inc. now owns 488,436 shares of the iPhone maker’s stock valued at $86,732,000 after buying an additional 2,337 shares in the last quarter. 57.98% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have recently commented on AAPL shares. Loop Capital cut their price objective on Apple from $210.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, May 25th. Piper Sandler cut their price objective on Apple from $200.00 to $195.00 in a research report on Friday, April 29th. StockNews.com started coverage on Apple in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Sanford C. Bernstein set a $170.00 price target on Apple in a research note on Monday, May 2nd. Finally, 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 note on Wednesday, July 20th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $182.73.
Apple Price Performance
AAPL stock opened at $154.09 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 1.53. The company has a market capitalization of $2.49 trillion, a PE ratio of 25.01, a P/E/G ratio of 2.00 and a beta of 1.19. Apple Inc. has a 12-month low of $129.04 and a 12-month high of $182.94. The business’s fifty day moving average price is $142.90 and its 200 day moving average price is $157.81.
Apple (NASDAQ:AAPL – Get Rating) last issued 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 company had revenue of $97.28 billion for the quarter, compared to the consensus estimate of $93.99 billion. During the same quarter in the prior year, the business earned $1.40 EPS. Apple’s revenue was up 8.6% on a year-over-year basis. On average, sell-side analysts anticipate that Apple Inc. will post 6.09 EPS for the current year.
Apple Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, May 12th. Shareholders of record on Monday, May 9th were issued a dividend of $0.23 per share. This is an increase from Apple’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, May 6th. This represents a $0.92 annualized dividend and a yield of 0.60%. Apple’s dividend payout ratio is 14.94%.
Apple announced that its Board of Directors has initiated 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 generally an indication that the company’s leadership believes its shares are undervalued.
Insiders Place Their Bets
In other news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction dated 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 transaction, 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 available at 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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