Apple Inc. (NASDAQ:AAPL) Shares Sold by Deroy & Devereaux Private Investment Counsel Inc.

Deroy & Devereaux Private Investment Counsel Inc. trimmed its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 6.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 150,097 shares of the iPhone maker’s stock after selling 9,684 shares during the quarter. Apple comprises 1.9% of Deroy & Devereaux Private Investment Counsel Inc.’s holdings, making the stock its 12th largest position. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Apple were worth $26,208,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Joseph Group Capital Management purchased a new position in shares of Apple in the fourth quarter worth about $1,631,000. Cardinal Capital Management Inc. raised its stake in shares of Apple by 5,525.0% in the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after purchasing an additional 221 shares during the last quarter. Shore Point Advisors LLC purchased a new position in Apple during the fourth quarter valued at approximately $41,000. St. James Investment Advisors LLC purchased a new position in Apple during the fourth quarter valued at approximately $57,000. Finally, Econ Financial Services Corp purchased a new position in Apple during the fourth quarter valued at approximately $58,000. 57.98% of the stock is currently owned by hedge funds and other institutional investors.

Apple Price Performance

NASDAQ:AAPL opened at $162.51 on Friday. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94. 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 company has a market capitalization of $2.63 trillion, a P/E ratio of 26.38, a P/E/G ratio of 1.97 and a beta of 1.19. The stock’s fifty day moving average is $144.31 and its two-hundred day moving average is $157.31.

Apple (NASDAQ:AAPLGet Rating) last posted its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. The company had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. Apple had a return on equity of 152.88% and a net margin of 26.41%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.30 earnings per share. Equities analysts expect that Apple Inc. will post 6.09 EPS for the current year.

Apple announced that its Board of Directors has authorized a stock buyback program on Thursday, April 28th that authorizes the company to buyback $90.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to buy up to 3.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Monday, August 8th will be issued a $0.23 dividend. The ex-dividend date is Friday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 0.57%. Apple’s dividend payout ratio is presently 14.94%.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 25,000 shares of the business’s 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 sale, the senior vice president now owns 452,334 shares in the company, valued at approximately $73,151,454.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

AAPL has been the subject of several recent research reports. Credit Suisse Group set a $166.00 price target on Apple in a research report on Friday. JPMorgan Chase & Co. set a $200.00 price target on Apple in a research report on Monday, July 25th. Wells Fargo & Company reduced their price target on Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, July 20th. UBS Group set a $185.00 price target on Apple in a research report on Thursday, July 21st. Finally, KeyCorp reduced their price target on Apple from $191.00 to $173.00 and set an “overweight” rating for the company in a research report on Tuesday, July 12th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $179.04.

About Apple

(Get Rating)

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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