Clifford Swan Investment Counsel LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 880,401 shares of the iPhone maker’s stock after selling 22,661 shares during the quarter. Apple makes up 5.7% of Clifford Swan Investment Counsel LLC’s portfolio, making the stock its 2nd biggest position. Clifford Swan Investment Counsel LLC’s holdings in Apple were worth $153,727,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of AAPL. Vantage Financial Partners Ltd. Inc. boosted its stake in Apple by 6.1% in the first quarter. Vantage Financial Partners Ltd. Inc. now owns 10,364 shares of the iPhone maker’s stock valued at $1,810,000 after acquiring an additional 600 shares in the last quarter. Truvestments Capital LLC boosted its position in shares of Apple by 7.6% in the 1st quarter. Truvestments Capital LLC now owns 29,690 shares of the iPhone maker’s stock worth $5,184,000 after purchasing an additional 2,087 shares in the last quarter. Macroview Investment Management LLC grew its stake in Apple by 1.7% during the 1st quarter. Macroview Investment Management LLC now owns 6,534 shares of the iPhone maker’s stock worth $1,141,000 after buying an additional 112 shares during the last quarter. Congress Park Capital LLC increased its position in Apple by 4.8% during the 1st quarter. Congress Park Capital LLC now owns 56,453 shares of the iPhone maker’s stock valued at $9,857,000 after buying an additional 2,608 shares in the last quarter. Finally, Advisory Alpha LLC raised its stake in Apple by 0.8% in the first quarter. Advisory Alpha LLC now owns 67,148 shares of the iPhone maker’s stock valued at $11,725,000 after buying an additional 555 shares during the last quarter. Hedge funds and other institutional investors own 57.62% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the stock. Fundamental Research set a $177.07 price objective on shares of Apple and gave the company a “buy” rating in a report on Thursday, August 4th. Evercore ISI raised their price target on shares of Apple from $180.00 to $185.00 in a report on Friday, July 29th. Wells Fargo & Company dropped their price objective on shares of Apple from $205.00 to $185.00 and set an “overweight” rating on the stock in a report on Wednesday, July 20th. JPMorgan Chase & Co. set a $200.00 target price on Apple in a research note on Monday, July 25th. Finally, UBS Group set a $185.00 price target on Apple in a research note on Thursday, July 21st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $179.27.
Apple Stock Down 0.1 %
AAPL stock opened at $173.03 on Wednesday. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94. 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 firm has a 50-day simple moving average of $149.28 and a 200-day simple moving average of $157.40. The stock has a market capitalization of $2.78 trillion, a P/E ratio of 28.55, a P/E/G ratio of 2.23 and a beta of 1.23.
Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings data 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. Apple had a return on equity of 152.97% and a net margin of 25.71%. The company had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. During the same period in the previous year, the firm posted $1.30 EPS. Apple’s revenue was up 1.9% compared to the same quarter last year. Equities analysts forecast that Apple Inc. will post 6.1 earnings per share for the current fiscal year.
Apple Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s dividend payout ratio is currently 15.18%.
Apple announced that its Board of Directors has initiated 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 buy up to 3.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
Insider Buying and Selling at Apple
In other news, SVP Katherine L. Adams sold 25,000 shares of the company’s 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 completion of the sale, the senior vice president now owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is currently 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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