Brightworth trimmed its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 4.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 178,082 shares of the iPhone maker’s stock after selling 8,974 shares during the period. Apple accounts for about 3.2% of Brightworth’s portfolio, making the stock its 5th biggest holding. Brightworth’s holdings in Apple were worth $31,095,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. Cardinal Capital Management Inc. lifted its holdings in Apple by 5,525.0% during 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 last quarter. Shore Point Advisors LLC acquired a new stake in Apple during the 4th quarter worth approximately $41,000. St. James Investment Advisors LLC acquired a new stake in Apple during the 4th quarter worth approximately $57,000. Emerson Wealth LLC lifted its holdings in Apple by 363.6% during the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after purchasing an additional 320 shares during the last quarter. Finally, Econ Financial Services Corp lifted its holdings in Apple by 29.1% during the 1st quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock worth $74,000 after purchasing an additional 95 shares during the last quarter. 57.98% of the stock is owned by institutional investors and hedge funds.
In other news, SVP Katherine L. Adams sold 25,000 shares of the business’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 directly owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
A number of research firms have commented on AAPL. Piper Sandler lowered their price objective on Apple from $200.00 to $195.00 in a research note on Friday, April 29th. Evercore ISI raised their price objective on Apple from $180.00 to $185.00 in a research note on Friday, July 29th. Morgan Stanley lowered their price objective on Apple from $185.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 20th. Barclays lowered their price objective on Apple from $167.00 to $166.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 13th. Finally, Credit Suisse Group set a $166.00 price objective on Apple in a research note on Friday, July 29th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus price target of $179.27.
Apple Stock Up 0.0 %
Shares of AAPL opened at $164.92 on Wednesday. The company has a market capitalization of $2.65 trillion, a PE ratio of 27.21, a PEG ratio of 2.14 and a beta of 1.23. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63. The stock’s 50-day moving average price is $146.97 and its two-hundred day moving average price is $157.08. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94.
Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. The company had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.30 EPS. On average, analysts anticipate that Apple Inc. will post 6.1 EPS for the current year.
Apple announced that its Board of Directors has approved a share repurchase plan on Thursday, April 28th that permits the company to repurchase $90.00 billion in shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
Apple Announces Dividend
The firm 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 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend is Friday, August 5th. Apple’s dividend payout ratio is 15.18%.
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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