Carson Advisory Inc. reduced its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,903 shares of the iPhone maker’s stock after selling 333 shares during the quarter. Apple comprises 3.6% of Carson Advisory Inc.’s holdings, making the stock its 5th largest holding. Carson Advisory Inc.’s holdings in Apple were worth $3,650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Elk River Wealth Management LLC boosted its holdings in shares of Apple by 49.0% during the 1st 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 in the last quarter. Piscataqua Savings Bank grew its holdings in 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 purchasing an additional 684 shares during the period. Harbor Capital Advisors Inc. bought a new stake in Apple in the first quarter valued at $171,000. Fountainhead AM LLC raised its holdings in shares of Apple by 11.6% during the fourth quarter. Fountainhead AM LLC now owns 45,544 shares of the iPhone maker’s stock valued at $7,732,000 after purchasing an additional 4,738 shares during the period. Finally, Primoris Wealth Advisors LLC bought a new position in shares of Apple during the 4th quarter worth about $4,282,000. Institutional investors and hedge funds own 57.62% of the company’s stock.
Insider Buying and Selling at Apple
In other news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 427,334 shares in the company, valued at $70,411,823.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.06% of the company’s stock.
Apple Price Performance
Shares of NASDAQ:AAPL opened at $173.03 on Wednesday. The firm has a market capitalization of $2.78 trillion, a PE ratio of 28.55, a P/E/G ratio of 2.23 and a beta of 1.23. 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 company has a 50-day moving average price of $149.28 and a two-hundred day moving average price of $157.40. Apple Inc. has a twelve month low of $129.04 and a twelve month high of $182.94.
Apple (NASDAQ:AAPL – Get Rating) last released its quarterly earnings data 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. The business 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%. Apple’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. Equities analysts forecast that Apple Inc. will post 6.1 EPS for the current year.
Apple announced that its board has initiated a stock buyback 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 usually a sign that the company’s board believes its shares are undervalued.
Apple Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.92 annualized dividend and a yield of 0.53%. Apple’s dividend payout ratio is currently 15.18%.
Analysts Set New Price Targets
A number of research firms recently weighed in on AAPL. Evercore ISI upped their price target on Apple from $180.00 to $185.00 in a research note on Friday, July 29th. Fundamental Research set a $177.07 target price on Apple and gave the stock a “buy” rating in a report on Thursday, August 4th. The Goldman Sachs Group set a $139.00 price target on shares of Apple in a research note on Friday, July 29th. UBS Group set a $185.00 price objective on shares of Apple in a research note on Thursday, July 21st. Finally, Morgan Stanley decreased their target price on shares of Apple from $185.00 to $180.00 and set an “overweight” rating for the company in a research report on Wednesday, July 20th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $179.27.
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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