Accuvest Global Advisors decreased its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 3.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,646 shares of the iPhone maker’s stock after selling 1,197 shares during the period. Apple accounts for approximately 3.1% of Accuvest Global Advisors’ portfolio, making the stock its 5th biggest position. Accuvest Global Advisors’ holdings in Apple were worth $6,224,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Elk River Wealth Management LLC lifted its position in shares of Apple by 49.0% in the first quarter. Elk River Wealth Management LLC now owns 167,122 shares of the iPhone maker’s stock worth $29,181,000 after buying an additional 54,989 shares during the last quarter. Piscataqua Savings Bank lifted its position in shares of Apple by 1.5% in the first quarter. Piscataqua Savings Bank now owns 47,546 shares of the iPhone maker’s stock worth $8,302,000 after buying an additional 684 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Apple in the first quarter worth about $171,000. Primoris Wealth Advisors LLC acquired a new stake in shares of Apple in the fourth quarter worth about $4,282,000. Finally, Chico Wealth RIA acquired a new stake in shares of Apple in the first quarter worth about $7,794,000. Institutional investors and hedge funds own 57.72% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on AAPL. 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. Loop Capital reduced their price target on Apple from $210.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, May 25th. The Goldman Sachs Group set a $139.00 price objective on Apple in a research note on Friday, July 29th. Rosenblatt Securities dropped their price objective on Apple from $168.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, July 29th. Finally, Evercore ISI lifted their price objective on Apple from $180.00 to $185.00 in a research note on Friday, July 29th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $181.18.
Insiders Place Their Bets
In other Apple 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 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 document filed with the SEC, which can be accessed through this link. In other Apple 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 in the company, valued at approximately $70,411,823.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.
Apple Stock Down 1.5 %
Shares of AAPL opened at $158.91 on Wednesday. The business’s 50 day simple moving average is $155.68 and its 200-day simple moving average is $156.99. Apple Inc. has a one year low of $129.04 and a one year high of $182.94. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. The company has a market capitalization of $2.55 trillion, a P/E ratio of 26.22, a PEG ratio of 2.12 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 firm had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. During the same quarter in the prior year, the business earned $1.30 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, sell-side analysts predict that Apple Inc. will post 6.1 EPS for the current fiscal year.
Apple Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.58%. The ex-dividend date was Friday, August 5th. Apple’s dividend payout ratio is 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.
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