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Baker Tilly Wealth Management LLC Has $25.32 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

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Baker Tilly Wealth Management LLC lessened its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 6.0% in the 1st quarter, Holdings reports. The fund owned 145,015 shares of the iPhone maker’s stock after selling 9,329 shares during the period. Apple comprises 2.8% of Baker Tilly Wealth Management LLC’s investment portfolio, making the stock its 4th largest holding. Baker Tilly Wealth Management LLC’s holdings in Apple were worth $25,321,000 at the end of the most recent reporting period.

Other institutional investors 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 4th quarter worth about $1,631,000. Cardinal Capital Management Inc. lifted its holdings in 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 buying an additional 221 shares in the last quarter. Shore Point Advisors LLC bought a new stake in Apple during the 4th quarter valued at about $41,000. St. James Investment Advisors LLC bought a new stake in Apple during the 4th quarter valued at about $57,000. Finally, Econ Financial Services Corp bought a new stake in Apple during the 4th quarter valued at about $58,000. Institutional investors own 57.98% of the company’s stock.

Apple Stock Up 3.3 %

AAPL stock opened at $162.51 on Monday. The firm’s fifty day simple moving average is $144.31 and its 200-day simple moving average is $157.20. The company has a market capitalization of $2.63 trillion, a P/E ratio of 26.38, a price-to-earnings-growth ratio of 1.97 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 Inc. has a 12 month low of $129.04 and a 12 month high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings data 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 business had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. Apple had a net margin of 26.41% and a return on equity of 152.88%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.30 EPS. As a group, equities research analysts forecast that Apple Inc. will post 6.09 earnings per share for the current year.

Apple declared that its board has initiated a stock repurchase plan on Thursday, April 28th that permits the company to repurchase $90.00 billion in shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Monday, August 8th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Friday, August 5th. Apple’s dividend payout ratio (DPR) is currently 14.94%.

Insider Activity

In other news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $161.72, for a total value of $4,043,000.00. Following the sale, the senior vice president now directly owns 452,334 shares of the company’s stock, valued at approximately $73,151,454.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AAPL shares. JPMorgan Chase & Co. set a $200.00 price objective on shares of Apple in a report on Monday, July 25th. UBS Group set a $185.00 price objective on shares of Apple in a report on Thursday, July 21st. Bank of America reduced their price target on shares of Apple from $200.00 to $185.00 in a report on Tuesday, July 26th. Piper Sandler reduced their price target on shares of Apple from $200.00 to $195.00 in a report on Friday, April 29th. Finally, Morgan Stanley reduced their price target on shares of Apple from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.04.

About Apple

(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.

See Also

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