FinTrust Capital Advisors LLC lifted its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 44.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 126,354 shares of the iPhone maker’s stock after purchasing an additional 38,686 shares during the period. Apple accounts for about 5.1% of FinTrust Capital Advisors LLC’s investment portfolio, making the stock its 2nd biggest position. FinTrust Capital Advisors LLC’s holdings in Apple were worth $22,062,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the business. Bailey Value Limited Partnership acquired a new position in shares of Apple during the 4th quarter worth about $10,654,000. Qube Research & Technologies Ltd raised its holdings in shares of Apple by 145.8% in the 4th quarter. Qube Research & Technologies Ltd now owns 643,206 shares of the iPhone maker’s stock valued at $114,214,000 after purchasing an additional 381,507 shares in the last quarter. Asahi Life Asset Management CO. LTD. lifted its position in Apple by 1.1% in the fourth quarter. Asahi Life Asset Management CO. LTD. now owns 222,838 shares of the iPhone maker’s stock valued at $39,569,000 after acquiring an additional 2,402 shares during the last quarter. Cim Investment Management Inc. lifted its position in Apple by 89.9% in the fourth quarter. Cim Investment Management Inc. now owns 131,529 shares of the iPhone maker’s stock valued at $20,858,000 after acquiring an additional 62,283 shares during the last quarter. Finally, Foster Group Inc. raised its holdings in shares of Apple by 1.4% in the fourth quarter. Foster Group Inc. now owns 133,529 shares of the iPhone maker’s stock valued at $23,711,000 after buying an additional 1,870 shares during the last quarter. Institutional investors own 57.62% of the company’s stock.
Insider Transactions at Apple
In other news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $70,411,823.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.06% of the stock is owned by insiders.
Apple Price Performance
Shares of Apple stock opened at $174.15 on Friday. The firm has a fifty day simple moving average of $150.45 and a 200-day simple moving average of $157.51. 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 Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The stock has a market capitalization of $2.80 trillion, a price-to-earnings ratio of 28.74, a PEG ratio of 2.24 and a beta of 1.23.
Apple (NASDAQ:AAPL – Get Rating) last released its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.14 by $0.06. The firm had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.30 EPS. On average, sell-side analysts expect that Apple Inc. will post 6.1 earnings per share for the current year.
Apple announced that its Board of Directors has approved a share repurchase program on Thursday, April 28th that authorizes the company to buyback $90.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
Apple Announces Dividend
The company 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 of this dividend was Friday, August 5th. Apple’s payout ratio is 15.18%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on AAPL shares. Bank of America reduced their target price on shares of Apple from $200.00 to $185.00 in a report on Tuesday, July 26th. Oppenheimer reissued an “outperform” rating and set a $190.00 price target on shares of Apple in a report on Wednesday, June 8th. Citigroup increased their price target on shares of Apple from $175.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Sanford C. Bernstein set a $170.00 target price on shares of Apple in a research report on Monday, May 2nd. Finally, Morgan Stanley lowered their target price on shares of Apple from $185.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $180.94.
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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