Bell Bank lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,883 shares of the iPhone maker’s stock after selling 214 shares during the period. Bell Bank’s holdings in Apple were worth $4,869,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of AAPL. Grant GrossMendelsohn LLC grew its holdings in Apple by 190.6% in the first quarter. Grant GrossMendelsohn LLC now owns 36,242 shares of the iPhone maker’s stock valued at $6,065,000 after purchasing an additional 23,770 shares during the last quarter. FNY Investment Advisers LLC grew its holdings in Apple by 13,396.0% in the first quarter. FNY Investment Advisers LLC now owns 19,944 shares of the iPhone maker’s stock valued at $3,482,000 after purchasing an additional 20,094 shares during the last quarter. Radnor Capital Management LLC grew its holdings in Apple by 2.8% in the first quarter. Radnor Capital Management LLC now owns 53,486 shares of the iPhone maker’s stock valued at $9,339,000 after purchasing an additional 1,458 shares during the last quarter. Investment Research & Advisory Group Inc. grew its holdings in Apple by 0.7% in the first quarter. Investment Research & Advisory Group Inc. now owns 84,209 shares of the iPhone maker’s stock valued at $14,729,000 after purchasing an additional 585 shares during the last quarter. Finally, Tobam grew its holdings in Apple by 191.3% in the first quarter. Tobam now owns 15,595 shares of the iPhone maker’s stock valued at $2,723,000 after purchasing an additional 10,242 shares during the last quarter. Institutional investors and hedge funds own 57.98% of the company’s stock.
Insider Buying and Selling at Apple
In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the firm’s 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 completion of the sale, the senior vice president now owns 452,334 shares in the company, valued at approximately $73,151,454.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.06% of the stock is owned by insiders.
Apple Price Performance
AAPL stock opened at $152.95 on Tuesday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.88 and a current ratio of 0.93. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The firm has a market cap of $2.48 trillion, a P/E ratio of 24.83, a price-to-earnings-growth ratio of 2.00 and a beta of 1.19. The stock has a 50-day simple moving average of $143.05 and a 200-day simple moving average of $157.67.
Apple (NASDAQ:AAPL – Get Rating) last posted its earnings results on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.09. Apple had a return on equity of 152.88% and a net margin of 26.41%. The business had revenue of $97.28 billion during the quarter, compared to analyst estimates of $93.99 billion. During the same quarter last year, the firm earned $1.40 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities analysts predict that Apple Inc. will post 6.09 earnings per share for the current fiscal year.
Apple announced that its Board of Directors has authorized a share repurchase plan on Thursday, April 28th that allows the company to buyback $90.00 billion in shares. This buyback authorization allows the iPhone maker to reacquire up to 3.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
Apple Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 12th. Shareholders 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 yield of 0.60%. The ex-dividend date of this dividend was Friday, May 6th. This is a positive change from Apple’s previous quarterly dividend of $0.22. Apple’s dividend payout ratio (DPR) is 14.94%.
Wall Street Analyst Weigh In
Several research firms have weighed in on AAPL. Credit Suisse Group set a $169.00 target price on Apple in a report on Friday, April 29th. Barclays reduced their price objective on Apple from $167.00 to $166.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 13th. StockNews.com assumed coverage on Apple in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Bank of America reduced their price objective on Apple from $215.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, May 19th. Finally, Sanford C. Bernstein set a $170.00 price objective on Apple 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $182.73.
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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