Mascoma Wealth Management LLC raised its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 4.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,759 shares of the iPhone maker’s stock after buying an additional 1,404 shares during the quarter. Apple comprises about 1.9% of Mascoma Wealth Management LLC’s holdings, making the stock its 10th largest position. Mascoma Wealth Management LLC’s holdings in Apple were worth $6,069,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Joseph Group Capital Management bought a new stake in shares of Apple in the fourth quarter valued at $1,631,000. Cardinal Capital Management Inc. raised its stake 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 valued at $39,000 after purchasing an additional 221 shares during the period. Shore Point Advisors LLC bought a new stake in shares of Apple during the 4th quarter valued at $41,000. St. James Investment Advisors LLC bought a new stake in shares of Apple during the 4th quarter valued at $57,000. Finally, Econ Financial Services Corp bought a new stake in shares of Apple during the 4th quarter valued at $58,000. 57.98% of the stock is currently owned by institutional investors.
In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the completion of the sale, the senior vice president now directly owns 452,334 shares of the company’s stock, valued at $73,151,454.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.06% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on the company. Evercore ISI decreased their price objective on Apple from $210.00 to $180.00 and set an “outperform” rating on the stock in a report on Tuesday, June 28th. Bank of America reduced their target price on shares of Apple from $215.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, May 19th. Fundamental Research lowered their price target on shares of Apple from $179.32 to $175.24 and set an “average” rating for the company in a research note on Friday, May 6th. JPMorgan Chase & Co. set a $200.00 price target on shares of Apple in a research report on Friday, July 1st. Finally, Loop Capital lowered their target price on Apple from $210.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, May 25th. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $182.73.
Apple Trading Down 0.8 %
Apple stock opened at $154.09 on Monday. The business’s fifty day moving average is $142.90 and its 200 day moving average is $157.81. Apple Inc. has a one year low of $129.04 and a one year high of $182.94. The stock has a market capitalization of $2.49 trillion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 2.00 and a beta of 1.19. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.93 and a quick ratio of 0.88.
Apple (NASDAQ:AAPL – Get Rating) last released its quarterly earnings results on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.09. Apple had a return on equity of 152.88% and a net margin of 26.41%. The firm had revenue of $97.28 billion for the quarter, compared to analysts’ expectations of $93.99 billion. During the same period in the prior year, the firm earned $1.40 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts predict that Apple Inc. will post 6.09 EPS for the current year.
Apple announced that its board has approved a stock repurchase program on Thursday, April 28th that authorizes the company to repurchase $90.00 billion in shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
Apple Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 12th. Stockholders of record on Monday, May 9th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, May 6th. This represents a $0.92 annualized dividend and a dividend yield of 0.60%. This is a positive change from Apple’s previous quarterly dividend of $0.22. Apple’s dividend payout ratio is presently 14.94%.
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.
Want More Great Investing Ideas?
Receive News & Ratings for Apple Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Apple and related companies with MarketBeat.com’s FREE daily email newsletter.