MADDEN SECURITIES Corp grew its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 15.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,448 shares of the iPhone maker’s stock after purchasing an additional 6,793 shares during the quarter. Apple makes up approximately 4.1% of MADDEN SECURITIES Corp’s investment portfolio, making the stock its 3rd largest position. MADDEN SECURITIES Corp’s holdings in Apple were worth $8,983,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in the stock. Spectrum Asset Management Inc. NB CA boosted its stake in shares of Apple by 27.0% during the first quarter. Spectrum Asset Management Inc. NB CA now owns 22,971 shares of the iPhone maker’s stock valued at $4,011,000 after purchasing an additional 4,884 shares during the period. Fusion Family Wealth LLC raised its holdings in shares of Apple by 162.2% in the first quarter. Fusion Family Wealth LLC now owns 3,568 shares of the iPhone maker’s stock valued at $623,000 after acquiring an additional 2,207 shares in the last quarter. Colony Family Offices LLC raised its holdings in shares of Apple by 3.3% in the first quarter. Colony Family Offices LLC now owns 18,908 shares of the iPhone maker’s stock valued at $3,302,000 after acquiring an additional 600 shares in the last quarter. Santori & Peters Inc. raised its holdings in shares of Apple by 27.3% in the first quarter. Santori & Peters Inc. now owns 9,877 shares of the iPhone maker’s stock valued at $1,724,000 after acquiring an additional 2,117 shares in the last quarter. Finally, Merriman Wealth Management LLC raised its holdings in shares of Apple by 7.0% in the first quarter. Merriman Wealth Management LLC now owns 90,284 shares of the iPhone maker’s stock valued at $15,764,000 after acquiring an additional 5,878 shares in the last quarter. 57.98% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the company. Itaú Unibanco initiated coverage on Apple in a report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price objective for the company. Piper Sandler reduced their target price on shares of Apple from $200.00 to $195.00 in a report on Friday, April 29th. Itau BBA Securities initiated coverage on shares of Apple in a report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 target price for the company. Credit Suisse Group set a $166.00 target price on shares of Apple in a report on Friday, July 29th. Finally, Evercore ISI boosted their target price on shares of Apple from $180.00 to $185.00 in a report on Friday, July 29th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $179.27.
Apple Trading Down 0.2 %
Shares of AAPL stock opened at $165.81 on Friday. 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 cap of $2.66 trillion, a price-to-earnings ratio of 27.36, a PEG ratio of 2.07 and a beta of 1.23. The stock has a 50 day simple moving average of $146.03 and a 200-day simple moving average of $157.15. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94.
Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings data 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 152.97% and a net margin of 25.71%. The firm had revenue of $82.96 billion during the quarter, compared to the consensus estimate of $82.97 billion. During the same period in the prior year, the company earned $1.30 EPS. The firm’s revenue was up 1.9% compared to the same quarter last year. On average, equities research analysts expect that Apple Inc. will post 6.1 EPS for the current fiscal year.
Apple Dividend Announcement
The business 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 dividend yield of 0.55%. The ex-dividend date is Friday, August 5th. Apple’s dividend payout ratio (DPR) is presently 15.18%.
Apple declared that its board has authorized a share repurchase program on Thursday, April 28th that allows the company to buyback $90.00 billion in shares. This buyback authorization allows the iPhone maker to purchase up to 3.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management 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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