Magnolia Wealth Management LLC boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 7,800.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,930 shares of the iPhone maker’s stock after acquiring an additional 130,260 shares during the period. Apple accounts for approximately 0.3% of Magnolia Wealth Management LLC’s investment portfolio, making the stock its 13th biggest position. Magnolia Wealth Management LLC’s holdings in Apple were worth $22,185,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of AAPL. Norges Bank purchased a new stake in Apple during the 4th quarter valued at about $25,228,507,000. State Street Corp boosted its holdings in Apple by 1.8% in the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock valued at $112,422,274,000 after purchasing an additional 10,951,705 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Apple in the 4th quarter valued at about $1,461,735,000. Capital Research Global Investors boosted its holdings in Apple by 38.1% in the 4th quarter. Capital Research Global Investors now owns 29,549,427 shares of the iPhone maker’s stock valued at $5,247,094,000 after purchasing an additional 8,154,171 shares during the last quarter. Finally, ProShare Advisors LLC boosted its holdings in Apple by 41.8% in the 4th quarter. ProShare Advisors LLC now owns 20,866,567 shares of the iPhone maker’s stock valued at $3,705,275,000 after purchasing an additional 6,154,422 shares during the last quarter. Hedge funds and other institutional investors own 57.98% of the company’s stock.
Apple Stock Up 3.3 %
AAPL opened at $162.51 on Monday. The business has a 50 day moving average price of $144.31 and a two-hundred day moving average price of $157.20. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 1.53. The company has a market cap of $2.63 trillion, a PE ratio of 26.38, a P/E/G ratio of 1.97 and a beta of 1.19. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94.
Apple (NASDAQ:AAPL – Get Rating) last posted 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 firm had revenue of $82.96 billion during the quarter, compared to the consensus estimate of $82.97 billion. Apple had a return on equity of 152.88% and a net margin of 26.41%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.30 EPS. As a group, research analysts anticipate that Apple Inc. will post 6.09 EPS for the current year.
Apple declared that its board has initiated a stock buyback program on Thursday, April 28th that allows the company to buyback $90.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to reacquire up to 3.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.
Apple Announces Dividend
The firm also recently announced 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 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Friday, August 5th. Apple’s payout ratio is 14.94%.
Insiders Place Their Bets
In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the senior vice president now owns 452,334 shares in the company, valued at approximately $73,151,454.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.06% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
AAPL has been the topic of several recent analyst reports. Rosenblatt Securities decreased their target price on shares of Apple from $168.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday. JPMorgan Chase & Co. set a $200.00 price target on Apple in a research note on Monday, July 25th. Loop Capital dropped their price objective on Apple from $210.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, May 25th. Citigroup lifted their price objective on Apple from $175.00 to $185.00 and gave the company a “buy” rating in a research note on Friday. Finally, Itau BBA Securities began coverage on Apple in a research note on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price objective for the company. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $179.04.
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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