Nauset Wealth Management. LLC trimmed its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.6% in the 1st quarter, HoldingsChannel reports. The firm owned 36,050 shares of the iPhone maker’s stock after selling 224 shares during the quarter. Apple accounts for 5.0% of Nauset Wealth Management. LLC’s portfolio, making the stock its 6th biggest position. Nauset Wealth Management. LLC’s holdings in Apple were worth $6,295,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp increased its stake in shares of Apple by 1.8% in the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after acquiring an additional 10,951,705 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Apple by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker’s stock worth $46,812,958,000 after acquiring an additional 4,456,954 shares in the last quarter. Norges Bank bought a new position in shares of Apple in the 4th quarter worth about $25,228,507,000. Charles Schwab Investment Management Inc. increased its stake in shares of Apple by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 79,583,859 shares of the iPhone maker’s stock worth $14,131,710,000 after acquiring an additional 1,273,148 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of Apple by 5.1% in the 4th quarter. Fisher Asset Management LLC now owns 63,982,104 shares of the iPhone maker’s stock worth $11,361,302,000 after acquiring an additional 3,096,696 shares in the last quarter. 57.98% of the stock is owned by hedge funds and other institutional investors.
Apple Stock Performance
AAPL opened at $165.81 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63. Apple Inc. has a 12-month low of $129.04 and a 12-month high of $182.94. 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 company’s 50 day moving average is $146.03 and its 200 day moving average is $157.15.
Apple (NASDAQ:AAPL – Get Rating) last issued its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.06. Apple had a net margin of 25.71% and a return on equity of 152.97%. The business had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. During the same quarter in the previous year, the firm earned $1.30 earnings per share. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities research analysts predict that Apple Inc. will post 6.1 EPS for the current year.
Apple declared that its Board of Directors has authorized a stock repurchase plan on Thursday, April 28th that permits the company to buyback $90.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
Apple Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Shareholders of record on Monday, August 8th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.55%. The ex-dividend date is Friday, August 5th. Apple’s dividend payout ratio is currently 15.18%.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on AAPL. Itaú Unibanco began coverage on shares of Apple in a research note on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price target for the company. KeyCorp increased their price target on shares of Apple from $173.00 to $177.00 and gave the stock an “overweight” rating in a research note on Tuesday. UBS Group set a $185.00 price objective on shares of Apple in a research note on Thursday, July 21st. Citigroup raised their price objective on shares of Apple from $175.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, July 29th. Finally, Loop Capital reduced their price objective on shares of Apple from $210.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, May 25th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average price target of $179.27.
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.
Receive News & Ratings for Apple Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Apple and related companies with MarketBeat.com’s FREE daily email newsletter.