Altus Wealth Management LLC cut its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 3.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,991 shares of the iPhone maker’s stock after selling 281 shares during the quarter. Apple accounts for about 0.8% of Altus Wealth Management LLC’s investment portfolio, making the stock its 14th largest holding. Altus Wealth Management LLC’s holdings in Apple were worth $1,221,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. Solidarilty Wealth LLC bought a new position in Apple during the first quarter worth $19,304,000. Vista Finance LLC lifted its stake in Apple by 26.9% in the first quarter. Vista Finance LLC now owns 14,402 shares of the iPhone maker’s stock valued at $2,515,000 after buying an additional 3,051 shares during the last quarter. Guardian Financial Partners LLC lifted its stake in Apple by 7.9% in the first quarter. Guardian Financial Partners LLC now owns 14,786 shares of the iPhone maker’s stock valued at $2,391,000 after buying an additional 1,087 shares during the last quarter. Petix & Botte Co lifted its stake in Apple by 85.4% in the first quarter. Petix & Botte Co now owns 29,472 shares of the iPhone maker’s stock valued at $5,146,000 after buying an additional 13,578 shares during the last quarter. Finally, Mill Capital Management LLC lifted its stake in Apple by 7.2% in the first quarter. Mill Capital Management LLC now owns 654,823 shares of the iPhone maker’s stock valued at $114,339,000 after buying an additional 43,957 shares during the last quarter. 57.98% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the company. Deutsche Bank Rese… set a $175.00 target price on Apple in a research note on Friday. Credit Suisse Group set a $166.00 target price on Apple in a research note on Friday. Sanford C. Bernstein set a $170.00 target price on Apple in a research note on Monday, May 2nd. The Goldman Sachs Group set a $139.00 price target on Apple in a report on Friday. Finally, Fundamental Research lowered their price target on Apple from $179.32 to $175.24 and set an “average” rating on the stock in a report on Friday, May 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $179.04.
Apple Trading Up 3.3 %
Shares of AAPL opened at $162.51 on Friday. The business’s 50-day moving average price is $144.31 and its 200 day moving average price is $157.43. The stock has a market capitalization of $2.63 trillion, a P/E ratio of 26.38, a P/E/G ratio of 1.97 and a beta of 1.19. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 1.53.
Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. Apple had a return on equity of 152.88% and a net margin of 26.41%. The firm had revenue of $82.96 billion during the quarter, compared to analyst estimates of $82.97 billion. During the same period last year, the company posted $1.30 EPS. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. Analysts expect that Apple Inc. will post 6.09 earnings per share for the current year.
Apple Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Shareholders of record on Monday, August 8th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.57%. Apple’s payout ratio is presently 14.94%.
Apple announced that its Board of Directors has approved a share buyback program on Thursday, April 28th that allows the company to buyback $90.00 billion in shares. This buyback authorization allows the iPhone maker to purchase up to 3.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
Insiders Place Their Bets
In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, May 4th. The stock was 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 in the company, valued at approximately $73,151,454.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.06% of the company’s stock.
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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