B & T Capital Management DBA Alpha Capital Management trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 3.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 79,182 shares of the iPhone maker’s stock after selling 2,794 shares during the period. Apple accounts for about 3.0% of B & T Capital Management DBA Alpha Capital Management’s holdings, making the stock its 5th largest holding. B & T Capital Management DBA Alpha Capital Management’s holdings in Apple were worth $13,826,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of AAPL. Crew Capital Management Ltd. lifted its holdings in shares of Apple by 1.7% in the 1st quarter. Crew Capital Management Ltd. now owns 46,341 shares of the iPhone maker’s stock valued at $8,092,000 after purchasing an additional 775 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in Apple by 16.8% during the 1st quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 108,329 shares of the iPhone maker’s stock valued at $18,915,000 after acquiring an additional 15,603 shares during the last quarter. Belpointe Asset Management LLC increased its position in Apple by 5.0% during the 1st quarter. Belpointe Asset Management LLC now owns 515,326 shares of the iPhone maker’s stock worth $89,963,000 after purchasing an additional 24,478 shares during the period. MADDEN SECURITIES Corp increased its position in Apple by 15.2% during the 1st quarter. MADDEN SECURITIES Corp now owns 51,448 shares of the iPhone maker’s stock worth $8,983,000 after purchasing an additional 6,793 shares during the period. Finally, Spectrum Asset Management Inc. NB CA increased its position in Apple by 27.0% during the 1st quarter. Spectrum Asset Management Inc. NB CA now owns 22,971 shares of the iPhone maker’s stock worth $4,011,000 after purchasing an additional 4,884 shares during the period. 57.98% of the stock is owned by hedge funds and other institutional investors.
Apple Stock Down 0.1 %
Shares of NASDAQ AAPL opened at $165.35 on Friday. 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 P/E ratio of 27.29, a P/E/G ratio of 2.15 and a beta of 1.23. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63. The stock has a fifty day moving average price of $146.34 and a 200 day moving average price of $157.12.
Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings results 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. 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 firm earned $1.30 EPS. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. Research analysts anticipate that Apple Inc. will post 6.1 EPS for the current fiscal year.
Apple Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Monday, August 8th will be issued a $0.23 dividend. The ex-dividend date is Friday, August 5th. This represents a $0.92 annualized dividend and a yield of 0.56%. Apple’s dividend payout ratio is currently 15.18%.
Apple announced that its Board of Directors has authorized a stock repurchase plan 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 plans are typically a sign that the company’s board of directors believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on AAPL. Itaú Unibanco began coverage on Apple in a report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price target on the stock. KeyCorp upped their price target on Apple from $173.00 to $177.00 and gave the stock an “overweight” rating in a report on Tuesday. Fundamental Research set a $177.07 target price on Apple and gave the company a “buy” rating in a research note on Thursday. Barclays reduced their target price on Apple from $167.00 to $166.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 13th. Finally, Credit Suisse Group set a $166.00 target price on Apple in a research note on Friday, July 29th. Two investment 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.27.
Insider Activity at Apple
In related news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of the sale, the senior vice president now directly owns 427,334 shares in the company, valued at approximately $70,411,823.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.06% of the stock is owned by insiders.
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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