Landmark Wealth Management LLC lifted its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 3.5% during the first quarter, HoldingsChannel.com reports. The firm owned 11,323 shares of the iPhone maker’s stock after purchasing an additional 388 shares during the quarter. Apple makes up about 1.0% of Landmark Wealth Management LLC’s portfolio, making the stock its 21st largest holding. Landmark Wealth Management LLC’s holdings in Apple were worth $1,977,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Cardinal Capital Management Inc. lifted its position in Apple by 5,525.0% in the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock valued at $39,000 after acquiring an additional 221 shares in the last quarter. Shore Point Advisors LLC bought a new position in Apple in the 4th quarter valued at approximately $41,000. St. James Investment Advisors LLC bought a new position in Apple in the 4th quarter valued at approximately $57,000. Emerson Wealth LLC lifted its position in Apple by 363.6% in the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock valued at $71,000 after acquiring an additional 320 shares in the last quarter. Finally, Econ Financial Services Corp lifted its position in Apple by 29.1% in the 1st quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock valued at $74,000 after acquiring an additional 95 shares in the last quarter. 57.98% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on AAPL shares. Loop Capital lowered their price objective on Apple from $210.00 to $180.00 and set a “buy” rating on the stock in a research report on Wednesday, May 25th. Itau BBA Securities began coverage on shares of Apple in a research note on Tuesday, July 26th. They set an “underperform” rating and a $136.00 target price for the company. Wells Fargo & Company decreased their target price on shares of Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, July 20th. set a $175.00 target price on shares of Apple in a research note on Friday, July 29th. Finally, Credit Suisse Group set a $166.00 target price on shares of Apple in a research note on Friday, July 29th. Two equities research 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $179.21.
Apple Trading Up 3.8 %
Shares of AAPL stock opened at $166.13 on Thursday. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94. 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 capitalization of $2.69 trillion, a PE ratio of 27.41, a PEG ratio of 2.09 and a beta of 1.23. The stock has a fifty day simple moving average of $145.58 and a two-hundred day simple moving average of $157.20.
Apple (NASDAQ:AAPL – Get Rating) last issued its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The business had revenue of $82.96 billion during the quarter, compared to analyst estimates of $82.97 billion. During the same quarter in the prior year, the business posted $1.30 EPS. Apple’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, analysts predict that Apple Inc. will post 6.11 EPS for the current fiscal year.
Apple declared that its board has approved a stock repurchase plan on Thursday, April 28th that authorizes the company to buyback $90.00 billion in shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.5% of its shares through open market purchases. Shares buyback plans are generally a sign 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. Shareholders of record on Monday, August 8th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Friday, August 5th. Apple’s dividend payout ratio (DPR) is presently 15.18%.
Apple Company Profile
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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