Apple Inc. (NASDAQ:AAPL) is AM Investment Strategies LLC’s Largest Position

AM Investment Strategies LLC cut its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 0.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 372,183 shares of the iPhone maker’s stock after selling 881 shares during the quarter. Apple accounts for 17.2% of AM Investment Strategies LLC’s investment portfolio, making the stock its largest position. AM Investment Strategies LLC’s holdings in Apple were worth $64,987,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Cardinal Capital Management Inc. boosted its position in shares of 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 period. Shore Point Advisors LLC acquired a new position in Apple in the 4th quarter valued at about $41,000. Emerson Wealth LLC lifted its position in shares of Apple by 363.6% during the first quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after purchasing an additional 320 shares in the last quarter. Econ Financial Services Corp raised its stake in shares of Apple by 29.1% in the first quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock valued at $74,000 after acquiring an additional 95 shares in the last quarter. Finally, Castle Financial & Retirement Planning Associates Inc. acquired a new stake in Apple in the fourth quarter valued at approximately $116,000. Hedge funds and other institutional investors own 57.72% of the company’s stock.

Apple Price Performance

Apple stock opened at $157.22 on Thursday. The business has a 50 day simple moving average of $156.11 and a 200 day simple moving average of $157.00. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. Apple Inc. has a one year low of $129.04 and a one year high of $182.94. The company has a market capitalization of $2.53 trillion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 2.09 and a beta of 1.23.

Apple (NASDAQ:AAPLGet Rating) last announced its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. The company had revenue of $82.96 billion for 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 quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.30 earnings per share. On average, sell-side analysts forecast 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. Investors of record on Monday, August 8th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s dividend payout ratio is currently 15.18%.

Insider Buying and Selling

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 427,334 shares in the company, valued at approximately $70,411,823.18. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Apple news, CFO Luca Maestri sold 96,735 shares of Apple 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 completion of the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction dated 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 completion of the sale, the senior vice president now owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several recent analyst reports. Morgan Stanley dropped their price target on shares of Apple from $185.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 20th. Bank of America dropped their target price on Apple from $200.00 to $185.00 in a report on Tuesday, July 26th. Citigroup boosted their target price on Apple from $175.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Itau BBA Securities assumed coverage on shares of Apple in a research note on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price objective for the company. Finally, Oppenheimer reissued an “outperform” rating and issued a $190.00 target price on shares of Apple in a report on Wednesday, June 8th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average price target of $181.18.

Apple Company Profile

(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.

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