Madison Wealth Partners Inc raised its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,980 shares of the iPhone maker’s stock after buying an additional 430 shares during the period. Apple comprises about 2.9% of Madison Wealth Partners Inc’s portfolio, making the stock its 10th biggest position. Madison Wealth Partners Inc’s holdings in Apple were worth $5,235,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently made changes to their positions in AAPL. Bailey Value Limited Partnership bought a new position in Apple during the fourth quarter worth $10,654,000. Stone Asset Management Inc. acquired a new stake in Apple during the 4th quarter worth about $1,761,000. Baron Silver Stevens Financial Advisors LLC grew its holdings in Apple by 3.0% during the 4th quarter. Baron Silver Stevens Financial Advisors LLC now owns 39,126 shares of the iPhone maker’s stock worth $6,947,000 after acquiring an additional 1,137 shares during the period. High Note Wealth LLC raised its position in shares of Apple by 0.7% in the 4th quarter. High Note Wealth LLC now owns 72,863 shares of the iPhone maker’s stock worth $12,938,000 after acquiring an additional 538 shares in the last quarter. Finally, Diversified Portfolios Inc. boosted its position in shares of Apple by 8.2% during the 4th quarter. Diversified Portfolios Inc. now owns 48,356 shares of the iPhone maker’s stock valued at $8,587,000 after purchasing an additional 3,683 shares in the last quarter. Institutional investors own 57.98% of the company’s stock.
Apple Stock Performance
Shares of AAPL opened at $172.10 on Friday. The stock has a 50-day moving average price of $147.72 and a 200-day moving average price of $157.21. 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 company has a market cap of $2.77 trillion, a PE ratio of 28.40, a price-to-earnings-growth ratio of 2.19 and a beta of 1.23. Apple Inc. has a 12-month low of $129.04 and a 12-month high of $182.94.
Apple (NASDAQ:AAPL – Get Rating) last issued its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.06. The firm had revenue of $82.96 billion during the quarter, compared to analyst estimates of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.30 earnings per share. As a group, equities analysts forecast that Apple Inc. will post 6.1 earnings per share for the current fiscal year.
Apple declared that its Board of Directors has approved a share buyback program on Thursday, April 28th that authorizes the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to purchase up to 3.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
Apple Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Friday, August 5th. Apple’s payout ratio is currently 15.18%.
Insiders Place Their Bets
In related news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the transaction, 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 legal filing with the SEC, which is available through the SEC website. Insiders own 0.06% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the company. Loop Capital lowered their target price on Apple from $210.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, May 25th. Itau BBA Securities started coverage on shares of Apple in a report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price target for the company. Morgan Stanley decreased their price target on shares of Apple from $185.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, July 20th. Bank of America cut their price objective on shares of Apple from $200.00 to $185.00 in a research report on Tuesday, July 26th. Finally, set a $175.00 target price on Apple in a research report on Friday, July 29th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $179.27.
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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