United Capital Management of KS Inc. lifted its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,287 shares of the iPhone maker’s stock after buying an additional 2,221 shares during the period. Apple makes up 6.0% of United Capital Management of KS Inc.’s portfolio, making the stock its biggest position. United Capital Management of KS Inc.’s holdings in Apple were worth $15,590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of AAPL. Nvest Financial LLC purchased a new position in Apple in the first quarter valued at about $4,492,000. Robeco Institutional Asset Management B.V. boosted its holdings in Apple by 2.2% in the first quarter. Robeco Institutional Asset Management B.V. now owns 10,995,559 shares of the iPhone maker’s stock valued at $1,919,937,000 after purchasing an additional 233,652 shares during the last quarter. Viridian Ria LLC boosted its holdings in Apple by 2.0% in the first quarter. Viridian Ria LLC now owns 30,260 shares of the iPhone maker’s stock valued at $5,284,000 after purchasing an additional 597 shares during the last quarter. Wiley BROS. Aintree Capital LLC boosted its holdings in Apple by 1.2% in the first quarter. Wiley BROS. Aintree Capital LLC now owns 60,919 shares of the iPhone maker’s stock valued at $10,637,000 after purchasing an additional 734 shares during the last quarter. Finally, Optas LLC boosted its holdings in Apple by 2.2% in the first quarter. Optas LLC now owns 59,726 shares of the iPhone maker’s stock valued at $10,429,000 after purchasing an additional 1,285 shares during the last quarter. Hedge funds and other institutional investors own 57.98% of the company’s stock.
Apple Stock Performance
Shares of NASDAQ AAPL opened at $151.60 on Wednesday. The stock has a fifty day moving average price of $143.09 and a two-hundred day moving average price of $157.63. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.88 and a current ratio of 0.93. The firm has a market cap of $2.45 trillion, a P/E ratio of 24.61, a PEG ratio of 2.00 and a beta of 1.19. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94.
Apple (NASDAQ:AAPL – Get Rating) last issued its quarterly 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. The firm 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%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the company posted $1.40 EPS. Research analysts forecast that Apple Inc. will post 6.09 EPS for the current fiscal year.
Apple Increases Dividend
The business also recently disclosed 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. 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. This represents a $0.92 annualized dividend and a dividend yield of 0.61%. Apple’s dividend payout ratio (DPR) is currently 14.94%.
Apple declared that its Board of Directors has initiated a share buyback program on Thursday, April 28th that authorizes the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on AAPL shares. Deutsche Bank Rese… set a $210.00 price target on Apple in a report on Friday, April 8th. Loop Capital reduced their target price on Apple from $210.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, May 25th. StockNews.com began coverage on Apple in a report on Thursday, March 31st. They set a “hold” rating on the stock. Bank of America reduced their target price on Apple from $200.00 to $185.00 in a report on Tuesday. Finally, Morgan Stanley reduced their target price on Apple from $185.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, July 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average target price of $179.64.
Insider Buying and Selling
In related news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $161.72, for a total value of $4,043,000.00. Following the transaction, the senior vice president now directly owns 452,334 shares in the company, valued at approximately $73,151,454.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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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