Safir Wealth Advisors LLC acquired a new position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,200 shares of the iPhone maker’s stock, valued at approximately $210,000. Apple accounts for about 0.2% of Safir Wealth Advisors LLC’s investment portfolio, making the stock its 16th largest holding.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AAPL. Cardinal Capital Management Inc. grew its stake in Apple by 5,525.0% in the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock valued at $39,000 after acquiring an additional 221 shares during the period. Shore Point Advisors LLC acquired a new position in Apple in the fourth quarter valued at about $41,000. St. James Investment Advisors LLC acquired a new position in Apple in the fourth quarter valued at about $57,000. Econ Financial Services Corp acquired a new position in Apple in the fourth quarter valued at about $58,000. Finally, Emerson Wealth LLC grew its stake in Apple by 363.6% in the first quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock valued at $71,000 after acquiring an additional 320 shares during the period. 57.98% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the company. Itau BBA Securities assumed coverage on Apple in a research note on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 target price for the company. Wells Fargo & Company cut their price target on Apple from $205.00 to $185.00 and set an “overweight” rating on the stock in a report on Wednesday, July 20th. UBS Group set a $185.00 price target on Apple in a report on Thursday, July 21st. Barclays boosted their price target on Apple from $166.00 to $169.00 and gave the company a “maintains” rating in a report on Friday. Finally, Loop Capital cut their price target on Apple from $210.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, May 25th. Two investment analysts have rated the stock with a sell rating, eight have assigned 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, the company has an average rating of “Moderate Buy” and an average price target of $179.04.
Insider Buying and Selling
In related news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction that occurred on 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 owns 452,334 shares of the company’s stock, valued at $73,151,454.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is currently owned by company insiders.
Apple Price Performance
Apple stock opened at $162.51 on Monday. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94. The stock’s 50 day moving average is $144.31 and its 200-day moving average is $157.20. 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 company has a market capitalization of $2.63 trillion, a price-to-earnings ratio of 26.38, a PEG ratio of 1.97 and a beta of 1.19.
Apple (NASDAQ:AAPL – Get Rating) last posted 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 company had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. During the same quarter in the prior year, the business earned $1.30 earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities research analysts expect that Apple Inc. will post 6.09 EPS for the current year.
Apple Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Monday, August 8th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Friday, August 5th. Apple’s dividend payout ratio is currently 14.94%.
Apple announced 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 outstanding shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
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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