McGuire Investment Group LLC lessened its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 9.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 119,660 shares of the iPhone maker’s stock after selling 11,965 shares during the quarter. Apple makes up approximately 3.8% of McGuire Investment Group LLC’s investment portfolio, making the stock its 3rd largest position. McGuire Investment Group LLC’s holdings in Apple were worth $20,894,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the stock. TMD Wealth Management LLC raised its stake in Apple by 0.4% in the 4th quarter. TMD Wealth Management LLC now owns 21,494 shares of the iPhone maker’s stock valued at $3,817,000 after acquiring an additional 77 shares during the period. MKD Wealth Coaches LLC raised its stake in Apple by 22.3% in the 4th quarter. MKD Wealth Coaches LLC now owns 8,948 shares of the iPhone maker’s stock valued at $1,589,000 after acquiring an additional 1,632 shares during the period. EFG Asset Management Americas Corp. raised its stake in Apple by 10.8% in the 4th quarter. EFG Asset Management Americas Corp. now owns 127,608 shares of the iPhone maker’s stock valued at $22,720,000 after acquiring an additional 12,420 shares during the period. Amarillo National Bank raised its stake in Apple by 12.3% in the 4th quarter. Amarillo National Bank now owns 52,213 shares of the iPhone maker’s stock valued at $9,272,000 after acquiring an additional 5,729 shares during the period. Finally, Advanced Asset Management Advisors Inc raised its stake in Apple by 0.4% in the 4th quarter. Advanced Asset Management Advisors Inc now owns 52,930 shares of the iPhone maker’s stock valued at $9,399,000 after acquiring an additional 201 shares during the period. Institutional investors and hedge funds own 57.98% of the company’s stock.
In other news, SVP Katherine L. Adams sold 25,000 shares of Apple 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 sale, the senior vice president now directly owns 452,334 shares of the company’s stock, valued at $73,151,454.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.06% of the company’s stock.
Apple Stock Performance
Shares of AAPL stock opened at $152.95 on Tuesday. The business’s 50-day moving average price is $143.05 and its 200-day moving average price is $157.67. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94. The firm has a market capitalization of $2.48 trillion, a price-to-earnings ratio of 24.83, a PEG ratio of 2.00 and a beta of 1.19. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 1.53.
Apple (NASDAQ:AAPL – Get Rating) last announced 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. Apple had a return on equity of 152.88% and a net margin of 26.41%. The firm had revenue of $97.28 billion for the quarter, compared to analyst estimates of $93.99 billion. During the same period last year, the firm posted $1.40 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. Equities research analysts forecast that Apple Inc. will post 6.09 EPS for the current year.
Apple declared that its Board of Directors has initiated a share buyback program on Thursday, April 28th that authorizes the company to buyback $90.00 billion in shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Apple Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, May 12th. Stockholders 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 dividend yield of 0.60%. This is a positive change from Apple’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, May 6th. Apple’s dividend payout ratio (DPR) is presently 14.94%.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the company. Deutsche Bank Rese… set a $210.00 price target on Apple in a research note on Friday, April 8th. Evercore ISI dropped their price target on Apple from $210.00 to $180.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 28th. JPMorgan Chase & Co. set a $200.00 price objective on Apple in a research report on Monday. Sanford C. Bernstein set a $170.00 price objective on Apple in a research report on Monday, May 2nd. Finally, Piper Sandler lowered their price objective on Apple from $200.00 to $195.00 in a research report on Friday, April 29th. Nine 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. According to MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price 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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