Kestra Advisory Services LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.5% in the first quarter, HoldingsChannel reports. The firm owned 2,194,536 shares of the iPhone maker’s stock after selling 11,448 shares during the period. Apple makes up 4.0% of Kestra Advisory Services LLC’s investment portfolio, making the stock its largest position. Kestra Advisory Services LLC’s holdings in Apple were worth $383,188,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Daniels&Tansey LLP lifted its position in shares of Apple by 1.6% in the fourth quarter. Daniels&Tansey LLP now owns 3,858 shares of the iPhone maker’s stock worth $685,000 after purchasing an additional 60 shares in the last quarter. Donald L. Hagan LLC lifted its position in Apple by 0.3% in the 1st quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock worth $3,181,000 after buying an additional 61 shares in the last quarter. Goodwin Daniel L boosted its stake in shares of Apple by 0.5% during the 1st quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock valued at $2,230,000 after buying an additional 62 shares during the period. Opus Capital Group LLC grew its holdings in shares of Apple by 0.3% during the 1st quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock valued at $3,332,000 after acquiring an additional 63 shares in the last quarter. Finally, Norwood Financial Corp increased its stake in shares of Apple by 0.9% in the first quarter. Norwood Financial Corp now owns 7,025 shares of the iPhone maker’s stock worth $1,227,000 after acquiring an additional 65 shares during the last quarter. Institutional investors own 57.98% of the company’s stock.
Apple Trading Up 0.4 %
AAPL stock opened at $157.35 on Friday. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 1.53. The business’s 50 day moving average is $143.81 and its 200-day moving average is $157.52. The firm has a market cap of $2.55 trillion, a P/E ratio of 25.54, a P/E/G ratio of 1.97 and a beta of 1.19.
Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings results on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.09. The firm had revenue of $97.28 billion for the quarter, compared to analysts’ expectations of $93.99 billion. Apple had a return on equity of 152.88% and a net margin of 26.41%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.40 earnings per share. Equities analysts anticipate that Apple Inc. will post 6.09 earnings per share for the current fiscal year.
Apple Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Monday, August 8th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.58%. Apple’s dividend payout ratio is currently 14.94%.
Apple declared that its board has approved a share repurchase program on Thursday, April 28th that allows the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to buy up to 3.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
Analysts Set New Price Targets
A number of research analysts have commented on AAPL shares. Citigroup lowered their target price on Apple from $200.00 to $175.00 and set a “buy” rating on the stock in a research note on Wednesday, July 13th. Credit Suisse Group set a $169.00 price objective on shares of Apple in a research report on Friday, April 29th. Bank of America decreased their target price on shares of Apple from $200.00 to $185.00 in a research report on Tuesday. Barclays cut their price target on shares of Apple from $167.00 to $166.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 13th. Finally, KeyCorp decreased their price target on Apple from $191.00 to $173.00 and set an “overweight” rating for the company in a research note on Tuesday, July 12th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $178.82.
Insider Buying and Selling at Apple
In other news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction that occurred 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 owns 452,334 shares in the company, valued at $73,151,454.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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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