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Apple Inc. (NASDAQ:AAPL) Shares Bought by Avitas Wealth Management LLC

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Avitas Wealth Management LLC grew its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 37.5% in the first quarter, HoldingsChannel reports. The fund owned 209,535 shares of the iPhone maker’s stock after buying an additional 57,093 shares during the period. Apple makes up about 6.6% of Avitas Wealth Management LLC’s portfolio, making the stock its largest holding. Avitas Wealth Management LLC’s holdings in Apple were worth $36,587,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in AAPL. Elk River Wealth Management LLC lifted its holdings in shares of Apple by 49.0% in the first quarter. Elk River Wealth Management LLC now owns 167,122 shares of the iPhone maker’s stock valued at $29,181,000 after buying an additional 54,989 shares during the period. Piscataqua Savings Bank lifted its holdings in shares of Apple by 1.5% in the first quarter. Piscataqua Savings Bank now owns 47,546 shares of the iPhone maker’s stock valued at $8,302,000 after buying an additional 684 shares during the period. Fountainhead AM LLC lifted its holdings in shares of Apple by 11.6% in the fourth quarter. Fountainhead AM LLC now owns 45,544 shares of the iPhone maker’s stock valued at $7,732,000 after buying an additional 4,738 shares during the period. Primoris Wealth Advisors LLC acquired a new stake in shares of Apple in the fourth quarter valued at $4,282,000. Finally, Red Door Wealth Management LLC lifted its holdings in shares of Apple by 3.3% in the first quarter. Red Door Wealth Management LLC now owns 96,983 shares of the iPhone maker’s stock valued at $16,934,000 after buying an additional 3,087 shares during the period. Institutional investors and hedge funds own 57.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. set a $175.00 price objective on Apple in a report on Friday, July 29th. Fundamental Research upped their target price on Apple to $177.00 and gave the company an “average” rating in a report on Wednesday. Rosenblatt Securities reduced their target price on Apple from $168.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, July 29th. Morgan Stanley reduced their target price on Apple from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. Finally, Credit Suisse Group set a $166.00 target price on Apple in a report on Friday, July 29th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $179.21.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $166.13 on Thursday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86. The firm has a market cap of $2.69 trillion, a price-to-earnings ratio of 27.41, a P/E/G ratio of 2.09 and a beta of 1.23. The business’s 50-day simple moving average is $145.58 and its 200-day simple moving average is $157.20. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. The business had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.30 EPS. As a group, equities research analysts expect that Apple Inc. will post 6.11 earnings per share for the current fiscal year.

Apple announced that its Board of Directors has authorized a stock repurchase plan on Thursday, April 28th that allows the company to buyback $90.00 billion in shares. This buyback authorization allows the iPhone maker to reacquire up to 3.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Apple Dividend Announcement

The business 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 dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Friday, August 5th. Apple’s dividend payout ratio is 15.18%.

Apple Company Profile

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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.

Further Reading

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