Hemington Wealth Management increased its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 37.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 152,290 shares of the iPhone maker’s stock after acquiring an additional 41,326 shares during the period. Apple makes up 8.9% of Hemington Wealth Management’s portfolio, making the stock its 3rd biggest position. Hemington Wealth Management’s holdings in Apple were worth $26,591,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the company. Bailey Value Limited Partnership bought a new position in Apple in the 4th quarter valued at about $10,654,000. Qube Research & Technologies Ltd grew its position in Apple by 145.8% in the 4th quarter. Qube Research & Technologies Ltd now owns 643,206 shares of the iPhone maker’s stock valued at $114,214,000 after buying an additional 381,507 shares in the last quarter. Inspire Investing LLC bought a new position in Apple in the 4th quarter valued at about $881,000. Paragon Advisors LLC grew its position in Apple by 1.4% in the 4th quarter. Paragon Advisors LLC now owns 9,121 shares of the iPhone maker’s stock valued at $1,620,000 after buying an additional 127 shares in the last quarter. Finally, Wealth Management Solutions LLC bought a new position in Apple in the 4th quarter valued at about $3,369,000. Institutional investors and hedge funds own 57.62% of the company’s stock.
Insider Activity at Apple
In related news, CFO Luca Maestri sold 96,735 shares of the firm’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the transaction, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the transaction, the senior vice president now owns 427,334 shares in the company, valued at $70,411,823.18. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Luca Maestri sold 96,735 shares of the stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total value of $16,923,788.25. Following the transaction, the chief financial officer now owns 110,673 shares in the company, valued at approximately $19,362,241.35. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.
Apple Price Performance
NASDAQ AAPL opened at $167.53 on Thursday. The company has a 50 day simple moving average of $153.18 and a 200-day simple moving average of $157.36. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. The firm has a market capitalization of $2.69 trillion, a price-to-earnings ratio of 27.65, a price-to-earnings-growth ratio of 2.17 and a beta of 1.23. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94.
Apple (NASDAQ:AAPL – Get Rating) last issued its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.06. The firm had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.30 earnings per share. Equities research analysts predict that Apple Inc. will post 6.1 earnings per share for the current fiscal year.
Apple declared that its Board of Directors has approved a stock repurchase plan on Thursday, April 28th that authorizes the company to buyback $90.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
Apple Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s payout ratio is presently 15.18%.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. set a $200.00 target price on shares of Apple in a research report on Monday. Loop Capital decreased their target price on shares of Apple from $210.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, May 25th. Fundamental Research set a $177.07 price objective on shares of Apple and gave the company a “buy” rating in a research report on Thursday, August 4th. Piper Sandler reduced their price objective on shares of Apple from $200.00 to $195.00 in a research report on Friday, April 29th. Finally, Wells Fargo & Company reduced their price objective on shares of Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, July 20th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $181.18.
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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