Apple Inc. (NASDAQ:AAPL) Holdings Boosted by NovaPoint Capital LLC

NovaPoint Capital LLC boosted its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 1.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,812 shares of the iPhone maker’s stock after purchasing an additional 831 shares during the period. Apple comprises 3.7% of NovaPoint Capital LLC’s investment portfolio, making the stock its 3rd largest position. NovaPoint Capital LLC’s holdings in Apple were worth $10,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Cardinal Capital Management Inc. increased its stake in Apple by 5,525.0% in the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after purchasing an additional 221 shares during the period. Shore Point Advisors LLC bought a new stake in shares of Apple in the 4th quarter worth approximately $41,000. St. James Investment Advisors LLC bought a new stake in shares of Apple in the 4th quarter worth approximately $57,000. Emerson Wealth LLC grew its position in shares of Apple by 363.6% in the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after buying an additional 320 shares during the last quarter. Finally, Econ Financial Services Corp grew its position in shares of Apple by 29.1% in the 1st quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock worth $74,000 after buying an additional 95 shares during the last quarter. 57.98% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Down 0.3 %

AAPL stock opened at $164.87 on Tuesday. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94. The business’s 50-day moving average is $146.64 and its two-hundred day moving average is $157.02. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86. The company has a market cap of $2.65 trillion, a price-to-earnings ratio of 27.21, a P/E/G ratio of 2.14 and a beta of 1.23.

Apple (NASDAQ:AAPLGet Rating) last posted 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 company 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 company earned $1.30 earnings per share. Apple’s revenue was up 1.9% on a year-over-year basis. As a group, analysts forecast that Apple Inc. will post 6.1 earnings per share for the current year.

Apple declared that its board has approved a stock repurchase 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 buy up to 3.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Monday, August 8th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Friday, August 5th. Apple’s dividend payout ratio (DPR) is currently 15.18%.

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total value of $4,119,250.00. Following the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the topic of a number of recent analyst reports. Bank of America cut their price objective on Apple from $200.00 to $185.00 in a research report on Tuesday, July 26th. Credit Suisse Group set a $166.00 price objective on Apple in a research report on Friday, July 29th. The Goldman Sachs Group set a $139.00 price target on Apple in a research report on Friday, July 29th. Deutsche Bank Aktiengesellschaft set a $175.00 price target on Apple in a research report on Monday, August 1st. Finally, KeyCorp lifted their price target on Apple from $173.00 to $177.00 and gave the company an “overweight” rating in a research report on Tuesday, August 2nd. 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. According to data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $179.27.

About Apple

(Get Rating)

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.

Further Reading

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