Intelligence Driven Advisers LLC decreased its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 5.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,319 shares of the iPhone maker’s stock after selling 4,349 shares during the period. Apple comprises 2.3% of Intelligence Driven Advisers LLC’s portfolio, making the stock its 13th largest holding. Intelligence Driven Advisers LLC’s holdings in Apple were worth $12,449,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in AAPL. S.E.E.D. Planning Group LLC boosted its holdings 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 acquiring an additional 708 shares in the last quarter. JTC Employer Solutions Trustee Ltd boosted its holdings 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 acquiring an additional 683 shares in the last quarter. Financial Council Asset Management Inc boosted its holdings 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 acquiring an additional 200 shares in the last quarter. Pennsylvania Capital Management Inc. ADV boosted its holdings 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 acquiring an additional 106,971 shares in the last quarter. Finally, Baskin Financial Services Inc. boosted its holdings 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 acquiring an additional 2,337 shares in the last quarter. Hedge funds and other institutional investors own 57.98% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms recently commented on AAPL. Morgan Stanley decreased their price objective on shares of Apple from $185.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, July 20th. Deutsche Bank Rese… set a $210.00 price objective on shares of Apple in a report on Friday, April 8th. The Goldman Sachs Group set a $130.00 price objective on shares of Apple in a report on Tuesday, July 19th. Loop Capital reduced their price target on shares of Apple from $210.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, May 25th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Apple from $200.00 to $175.00 in a report on Tuesday, June 14th. Nine research 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $182.73.
Apple Price Performance
Apple stock opened at $154.09 on Monday. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94. The firm has a fifty day moving average of $142.90 and a 200-day moving average of $157.81. The firm has a market capitalization of $2.49 trillion, a P/E ratio of 25.01, a PEG ratio of 2.00 and a beta of 1.19. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 1.53.
Apple (NASDAQ:AAPL – Get Rating) last released its quarterly earnings data 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 net margin of 26.41% and a return on equity of 152.88%. The company had revenue of $97.28 billion during the quarter, compared to analyst estimates of $93.99 billion. During the same quarter in the prior year, the business earned $1.40 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, analysts predict that Apple Inc. will post 6.09 EPS for the current year.
Apple Increases Dividend
The company also recently announced 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 an increase from Apple’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 0.60%. Apple’s dividend payout ratio is 14.94%.
Apple declared that its Board of Directors has authorized a stock 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 stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
In other news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $161.72, for a total value of $4,043,000.00. Following the completion of the transaction, the senior vice president now directly owns 452,334 shares in the company, valued at $73,151,454.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.06% of the company’s stock.
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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