Diligent Investors LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 4.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 90,557 shares of the iPhone maker’s stock after selling 4,101 shares during the period. Apple comprises approximately 4.6% of Diligent Investors LLC’s holdings, making the stock its 4th largest holding. Diligent Investors LLC’s holdings in Apple were worth $15,812,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in AAPL. Signaturefd LLC raised its position in shares of Apple by 3.5% in the 4th quarter. Signaturefd LLC now owns 380,450 shares of the iPhone maker’s stock valued at $67,556,000 after purchasing an additional 12,710 shares in the last quarter. Heirloom Wealth Management acquired a new stake in shares of Apple during the 4th quarter valued at approximately $266,000. Reuter James Wealth Management LLC acquired a new stake in shares of Apple during the 4th quarter valued at approximately $3,340,000. Moseley Investment Management Inc. raised its position in shares of Apple by 11.9% during the 4th quarter. Moseley Investment Management Inc. now owns 87,420 shares of the iPhone maker’s stock valued at $15,523,000 after acquiring an additional 9,275 shares in the last quarter. Finally, Alley Co LLC raised its position in shares of Apple by 0.7% during the 4th quarter. Alley Co LLC now owns 134,443 shares of the iPhone maker’s stock valued at $23,873,000 after acquiring an additional 883 shares in the last quarter. 57.98% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the company. Barclays upped their price target on Apple from $166.00 to $169.00 and gave the company a “maintains” rating in a research report on Friday. Raymond James dropped their price target on Apple from $190.00 to $185.00 and set a “maintains” rating on the stock in a research report on Friday. Deutsche Bank Rese… set a $175.00 price target on Apple in a research report on Friday. Oppenheimer reaffirmed an “outperform” rating and issued a $190.00 target price on shares of Apple in a research report on Wednesday, June 8th. Finally, Piper Sandler dropped their target price on Apple from $200.00 to $195.00 in a research report on Friday, April 29th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Apple has an average rating of “Moderate Buy” and an average price target of $179.04.
Apple Trading Up 3.3 %
Shares of NASDAQ AAPL opened at $162.51 on Friday. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94. The company has a market cap of $2.63 trillion, a price-to-earnings ratio of 26.38, a P/E/G ratio of 1.97 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. The business has a fifty day simple moving average of $144.31 and a 200-day simple moving average of $157.43.
Apple (NASDAQ:AAPL – Get Rating) last announced its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.14 by $0.06. Apple had a return on equity of 152.88% and a net margin of 26.41%. The business had revenue of $82.96 billion during the quarter, compared to the consensus estimate of $82.97 billion. During the same period in the prior year, the business posted $1.30 earnings per share. Apple’s revenue was up 1.9% compared to the same quarter last year. Sell-side analysts predict that Apple Inc. will post 6.09 EPS for the current year.
Apple Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Monday, August 8th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.57%. Apple’s dividend payout ratio is currently 14.94%.
Apple announced that its Board of Directors has initiated a stock repurchase program on Thursday, April 28th that allows the company to repurchase $90.00 billion in shares. This repurchase authorization allows the iPhone maker to purchase up to 3.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
Insider Buying and Selling
In related news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 452,334 shares of the company’s stock, valued at approximately $73,151,454.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company 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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