1900 Wealth Management LLC grew its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 12.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,629 shares of the iPhone maker’s stock after buying an additional 3,783 shares during the quarter. 1900 Wealth Management LLC’s holdings in Apple were worth $6,047,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Daniels&Tansey LLP increased 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 valued at $685,000 after buying an additional 60 shares in the last quarter. Donald L. Hagan LLC grew its stake in Apple by 0.3% in the 1st quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock valued at $3,181,000 after acquiring an additional 61 shares during the last quarter. Goodwin Daniel L increased its holdings in 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 acquiring an additional 62 shares in the last quarter. Opus Capital Group LLC raised its position in Apple by 0.3% during the first quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock worth $3,332,000 after acquiring an additional 63 shares during the last quarter. Finally, Norwood Financial Corp grew its position 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 valued at $1,227,000 after purchasing an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 57.98% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms recently commented on AAPL. Itau BBA Securities started coverage on Apple in a research report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price objective for the company. UBS Group set a $185.00 target price on shares of Apple in a research note on Thursday, July 21st. Wells Fargo & Company reduced their price target on Apple from $205.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 20th. Evercore ISI lifted their price objective on Apple from $180.00 to $185.00 in a research report on Friday, July 29th. Finally, The Goldman Sachs Group set a $139.00 price target on Apple in a research note on Friday, July 29th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $179.16.
Apple Stock Performance
Shares of Apple stock opened at $160.01 on Wednesday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The firm’s 50-day simple moving average is $145.07 and its 200-day simple moving average is $157.14. The firm has a market cap of $2.59 trillion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 2.11 and a beta of 1.23.
Apple (NASDAQ:AAPL – Get Rating) last released its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The company had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. During the same quarter last year, the business posted $1.30 EPS. Apple’s quarterly revenue was up 1.9% compared to the same quarter last year. Equities analysts forecast that Apple Inc. will post 6.08 earnings per share for the current fiscal year.
Apple Dividend Announcement
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 dividend of $0.23 per share. The ex-dividend date is Friday, August 5th. This represents a $0.92 annualized dividend and a yield of 0.57%. Apple’s dividend payout ratio (DPR) is 15.18%.
Apple announced that its Board of Directors has authorized a stock 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 shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are 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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