Aquire Wealth Advisors LLC reduced its holdings in Apple Inc. (NASDAQ:AAPL – Get 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:AAPL – Get 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
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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