Essex LLC lifted its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.2% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,864 shares of the iPhone maker’s stock after buying an additional 96 shares during the period. Apple makes up approximately 2.2% of Essex LLC’s portfolio, making the stock its 7th biggest holding. Essex LLC’s holdings in Apple were worth $8,183,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Daniels&Tansey LLP lifted its stake in Apple by 1.6% in the 4th quarter. Daniels&Tansey LLP now owns 3,858 shares of the iPhone maker’s stock valued at $685,000 after acquiring an additional 60 shares in the last quarter. Donald L. Hagan LLC lifted its stake in Apple by 0.3% in the 1st quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock valued at $3,181,000 after acquiring an additional 61 shares in the last quarter. Investors Research Corp lifted its stake in Apple by 0.4% in the 1st quarter. Investors Research Corp now owns 16,117 shares of the iPhone maker’s stock valued at $2,814,000 after acquiring an additional 66 shares in the last quarter. Financial Planning & Information Services Inc. lifted its stake in Apple by 1.0% in the 4th quarter. Financial Planning & Information Services Inc. now owns 6,837 shares of the iPhone maker’s stock valued at $1,214,000 after acquiring an additional 67 shares in the last quarter. Finally, Salzhauer Michael lifted its stake in Apple by 2.0% in the 4th quarter. Salzhauer Michael now owns 3,397 shares of the iPhone maker’s stock valued at $603,000 after acquiring an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 57.98% of the company’s stock.
Insider Buying and Selling
In related news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction 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 filing with the SEC, which is available through this link. 0.06% of the stock is owned by corporate insiders.
Apple Stock Performance
NASDAQ:AAPL opened at $168.49 on Friday. The stock has a fifty day moving average price of $147.38 and a 200-day moving average price of $157.16. The company has a market cap of $2.71 trillion, a price-to-earnings ratio of 27.80, a PEG ratio of 2.14 and a beta of 1.23. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94.
Apple (NASDAQ:AAPL – Get Rating) last released its 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. 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 posted $1.30 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. As a group, equities analysts anticipate that Apple Inc. will post 6.1 EPS for the current fiscal year.
Apple declared that its Board of Directors has initiated a share repurchase program on Thursday, April 28th that permits the company to repurchase $90.00 billion in shares. This repurchase authorization permits the iPhone maker to reacquire up to 3.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
Apple Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were given a dividend of $0.23 per share. The ex-dividend date was Friday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 0.55%. Apple’s dividend payout ratio is currently 15.18%.
Analyst Ratings Changes
AAPL has been the topic of several research reports. Loop Capital cut their target price on Apple from $210.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, May 25th. Wells Fargo & Company lowered their price target on Apple from $205.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. set a $175.00 price target on Apple in a research report on Friday, July 29th. KeyCorp boosted their price target on Apple from $173.00 to $177.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 2nd. Finally, Citigroup boosted their price target on Apple from $175.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average target price 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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