Walkner Condon Financial Advisors LLC grew its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 228.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,645 shares of the iPhone maker’s stock after purchasing an additional 31,034 shares during the period. Apple makes up approximately 2.2% of Walkner Condon Financial Advisors LLC’s holdings, making the stock its 10th largest holding. Walkner Condon Financial Advisors LLC’s holdings in Apple were worth $7,797,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the business. Joseph Group Capital Management acquired a new stake in Apple in the 4th quarter valued at about $1,631,000. Cardinal Capital Management Inc. boosted its position in Apple by 5,525.0% in the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock valued at $39,000 after buying an additional 221 shares in the last quarter. Shore Point Advisors LLC acquired a new position in shares of Apple during the fourth quarter worth $41,000. St. James Investment Advisors LLC acquired a new position in Apple in the fourth quarter valued at $57,000. Finally, Emerson Wealth LLC increased its stake in Apple by 363.6% in the first quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock valued at $71,000 after purchasing an additional 320 shares in the last quarter. 57.62% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Apple
In related news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were 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 in the company, valued at $70,411,823.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.06% of the company’s stock.
Analyst Upgrades and Downgrades
AAPL has been the subject of several recent research reports. Rosenblatt Securities decreased their target price on shares of Apple from $168.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, July 29th. Barclays dropped their price target on shares of Apple from $167.00 to $166.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 13th. Credit Suisse Group raised shares of Apple from a “neutral” rating to an “outperform” rating and set a $201.00 price target for the company in a research report on Tuesday. Itaú Unibanco initiated coverage on shares of Apple in a research note on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price objective for the company. Finally, Wedbush raised their price objective on shares of Apple from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, seven have assigned 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 presently has a consensus rating of “Moderate Buy” and an average target price of $180.94.
Apple Trading Up 0.9 %
NASDAQ:AAPL opened at $174.55 on Thursday. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94. The stock has a market cap of $2.81 trillion, a price-to-earnings ratio of 28.80, a P/E/G ratio of 2.24 and a beta of 1.23. The company has a 50-day moving average price of $149.82 and a 200-day moving average price of $157.52. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63.
Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 25.71% and a return on equity of 152.97%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.30 earnings per share. Equities analysts predict that Apple Inc. will post 6.1 EPS for the current year.
Apple announced that its board has authorized a share buyback program on Thursday, April 28th that allows the company to repurchase $90.00 billion in shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
Apple Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.53%. The ex-dividend date was Friday, August 5th. Apple’s dividend payout ratio (DPR) is presently 15.18%.
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.