Foster & Motley Inc. raised its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.9% in the 1st quarter, Holdings Channel reports. The firm owned 228,977 shares of the iPhone maker’s stock after purchasing an additional 4,332 shares during the quarter. Apple accounts for 3.1% of Foster & Motley Inc.’s holdings, making the stock its 5th biggest holding. Foster & Motley Inc.’s holdings in Apple were worth $39,982,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in AAPL. Regentatlantic Capital LLC raised its holdings in shares of Apple by 1.3% in the fourth quarter. Regentatlantic Capital LLC now owns 917,766 shares of the iPhone maker’s stock valued at $162,968,000 after acquiring an additional 11,718 shares in the last quarter. Uncommon Cents Investing LLC raised its holdings in shares of Apple by 0.6% in the fourth quarter. Uncommon Cents Investing LLC now owns 13,460 shares of the iPhone maker’s stock valued at $2,390,000 after acquiring an additional 86 shares in the last quarter. Brown Financial Advisory bought a new stake in shares of Apple in the fourth quarter valued at about $273,000. Vishria Bird Financial Group LLC raised its holdings in shares of Apple by 1.5% in the fourth quarter. Vishria Bird Financial Group LLC now owns 105,838 shares of the iPhone maker’s stock valued at $18,794,000 after acquiring an additional 1,558 shares in the last quarter. Finally, Seascape Capital Management raised its holdings in shares of Apple by 1.1% in the fourth quarter. Seascape Capital Management now owns 37,052 shares of the iPhone maker’s stock valued at $6,579,000 after acquiring an additional 411 shares in the last quarter. 57.98% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several analysts recently weighed in on AAPL shares. Loop Capital decreased their price objective on Apple from $210.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, May 25th. JPMorgan Chase & Co. set a $200.00 price objective on Apple in a report on Monday, July 25th. Rosenblatt Securities cut their target price on Apple from $168.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, July 29th. The Goldman Sachs Group set a $139.00 target price on Apple in a research note on Friday, July 29th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $190.00 target price on shares of Apple in a research note on Wednesday, June 8th. Two analysts have rated the stock with a sell rating, eight have issued 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 currently has a consensus rating of “Moderate Buy” and an average price target of $179.21.
Apple Price Performance
Shares of NASDAQ AAPL opened at $166.13 on Thursday. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The business has a 50-day moving average of $145.58 and a 200-day moving average of $157.20. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. The company has a market capitalization of $2.69 trillion, a price-to-earnings ratio of 27.41, a PEG ratio of 2.09 and a beta of 1.23.
Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.06. The firm had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. Apple’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.30 earnings per share. On average, equities analysts anticipate that Apple Inc. will post 6.11 EPS for the current fiscal year.
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 dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 0.55%. Apple’s dividend payout ratio is 15.18%.
Apple announced that its board has authorized a share repurchase program on Thursday, April 28th that permits the company to buyback $90.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
Apple Company Profile
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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