Apple Inc. (NASDAQ:AAPL) Stock Holdings Lessened by Aquire Wealth Advisors LLC

Aquire Wealth Advisors LLC reduced its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 1.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 4,559 shares of the iPhone maker’s stock after selling 68 shares during the period. Apple comprises approximately 0.4% of Aquire Wealth Advisors LLC’s portfolio, making the stock its 27th largest holding. Aquire Wealth Advisors LLC’s holdings in Apple were worth $796,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Joseph Group Capital Management bought a new position in shares of Apple in the 4th quarter worth about $1,631,000. Cardinal Capital Management Inc. lifted its position in Apple by 5,525.0% in the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock valued at $39,000 after purchasing an additional 221 shares during the last quarter. Shore Point Advisors LLC bought a new stake in Apple in the 4th quarter valued at about $41,000. St. James Investment Advisors LLC bought a new stake in Apple in the 4th quarter valued at about $57,000. Finally, Emerson Wealth LLC lifted its position in Apple by 363.6% in the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock valued at $71,000 after purchasing an additional 320 shares during the last quarter. 57.98% of the stock is currently owned by institutional investors.

Apple Stock Performance

AAPL stock opened at $166.13 on Thursday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86. The stock has a market cap of $2.69 trillion, a P/E ratio of 27.41, a P/E/G ratio of 2.09 and a beta of 1.23. The firm has a 50 day simple moving average of $145.58 and a 200 day simple moving average of $157.20. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping the consensus estimate of $1.14 by $0.06. The business had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the company posted $1.30 earnings per share. Research analysts anticipate that Apple Inc. will post 6.11 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 11th. Shareholders of record on Monday, August 8th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Friday, August 5th. Apple’s dividend payout ratio (DPR) is presently 15.18%.

Apple announced that its board has initiated a share buyback plan on Thursday, April 28th that allows the company to repurchase $90.00 billion in shares. This repurchase authorization allows the iPhone maker to purchase up to 3.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Apple from $205.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. Credit Suisse Group set a $166.00 price objective on shares of Apple in a research report on Friday, July 29th. Morgan Stanley cut their price objective on shares of Apple from $185.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. KeyCorp boosted their price target on shares of Apple from $173.00 to $177.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, set a $175.00 price target on shares of Apple in a research report on Friday, July 29th. 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’s stock. Based on data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average price target of $179.21.

Apple Company Profile

(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.

See Also

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