WBH Advisory Inc. decreased its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 78,232 shares of the iPhone maker’s stock after selling 1,606 shares during the period. Apple comprises approximately 1.6% of WBH Advisory Inc.’s holdings, making the stock its 10th largest holding. WBH Advisory Inc.’s holdings in Apple were worth $12,802,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Elk River Wealth Management LLC raised its holdings in Apple by 49.0% in the 1st quarter. Elk River Wealth Management LLC now owns 167,122 shares of the iPhone maker’s stock valued at $29,181,000 after acquiring an additional 54,989 shares in the last quarter. Piscataqua Savings Bank grew its stake in shares of Apple by 1.5% in the 1st quarter. Piscataqua Savings Bank now owns 47,546 shares of the iPhone maker’s stock valued at $8,302,000 after purchasing an additional 684 shares during the period. Harbor Capital Advisors Inc. bought a new stake in shares of Apple in the 1st quarter valued at approximately $171,000. Fountainhead AM LLC grew its stake in shares of Apple by 11.6% in the 4th quarter. Fountainhead AM LLC now owns 45,544 shares of the iPhone maker’s stock valued at $7,732,000 after purchasing an additional 4,738 shares during the period. Finally, Primoris Wealth Advisors LLC bought a new stake in shares of Apple in the 4th quarter valued at approximately $4,282,000. Institutional investors and hedge funds own 57.98% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on AAPL. Bank of America lowered their price objective on Apple from $200.00 to $185.00 in a research note on Tuesday, July 26th. UBS Group set a $185.00 price objective on Apple in a research note on Thursday, July 21st. Loop Capital lowered their price objective on Apple from $210.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, May 25th. Itau BBA Securities started coverage on Apple in a research note on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price objective on the stock. Finally, Oppenheimer restated an “outperform” rating and set a $190.00 price target on shares of Apple in a research report on Wednesday, June 8th. Two 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $179.27.
Apple Stock Performance
AAPL stock opened at $169.24 on Thursday. The business’s fifty day moving average is $146.97 and its 200-day moving average is $157.08. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63. The company has a market cap of $2.72 trillion, a P/E ratio of 27.93, a price-to-earnings-growth ratio of 2.14 and a beta of 1.23. Apple Inc. has a twelve month low of $129.04 and a twelve month 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 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. The company had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.30 EPS. Equities research analysts forecast that Apple Inc. will post 6.1 EPS for the current year.
Apple Announces Dividend
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 paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Friday, August 5th. Apple’s dividend payout ratio is 15.18%.
Apple declared that its Board of Directors has authorized a stock buyback plan on Thursday, April 28th that authorizes the company to repurchase $90.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Insider Buying and Selling at Apple
In other Apple news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction dated 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 sale, the senior vice president now owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.06% of the company’s stock.
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.