DORCHESTER WEALTH MANAGEMENT Co raised its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 31.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 243,978 shares of the iPhone maker’s stock after buying an additional 57,898 shares during the quarter. Apple comprises approximately 8.5% of DORCHESTER WEALTH MANAGEMENT Co’s investment portfolio, making the stock its 2nd biggest holding. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Apple were worth $53,234,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Elk River Wealth Management LLC boosted its stake in Apple by 49.0% in the 1st quarter. Elk River Wealth Management LLC now owns 167,122 shares of the iPhone maker’s stock worth $29,181,000 after purchasing an additional 54,989 shares during the period. Piscataqua Savings Bank boosted its position in shares of Apple by 1.5% during the first quarter. Piscataqua Savings Bank now owns 47,546 shares of the iPhone maker’s stock worth $8,302,000 after buying an additional 684 shares during the period. Harbor Capital Advisors Inc. bought a new position in shares of Apple during the first quarter worth about $171,000. Primoris Wealth Advisors LLC acquired a new stake in Apple in the 4th quarter valued at approximately $4,282,000. Finally, Chico Wealth RIA bought a new stake in Apple in the 1st quarter valued at approximately $7,794,000. Institutional investors and hedge funds own 57.72% of the company’s stock.
Insider Activity at Apple
In other news, CFO Luca Maestri sold 96,735 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction 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 sale, the senior vice president now owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the sale, the chief financial officer now owns 110,673 shares in the company, valued at $19,362,241.35. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.
Apple Price Performance
AAPL stock opened at $155.81 on Tuesday. The company’s 50-day moving average price is $156.11 and its two-hundred day moving average price is $157.00. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63. The firm has a market cap of $2.50 trillion, a P/E ratio of 25.71, a P/E/G ratio of 2.02 and a beta of 1.23.
Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (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 analysts’ expectations of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the firm posted $1.30 earnings per share. On average, analysts anticipate that Apple Inc. will post 6.1 earnings per share for the current fiscal year.
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. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 0.59%. Apple’s dividend payout ratio is currently 15.18%.
Analysts Set New Price Targets
AAPL has been the topic of a number of recent research reports. JPMorgan Chase & Co. set a $200.00 price objective on shares of Apple in a report on Monday, August 29th. Barclays cut their price target on shares of Apple from $167.00 to $166.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 13th. Wedbush lifted their target price on Apple from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, August 17th. set a $175.00 price target on Apple in a research report on Friday, July 29th. Finally, Citigroup upped their price objective on Apple from $175.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $182.00.
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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