DORCHESTER WEALTH MANAGEMENT Co grew its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 31.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 243,978 shares of the iPhone maker’s stock after purchasing an additional 57,898 shares during the period. Apple makes up about 8.5% of DORCHESTER WEALTH MANAGEMENT Co’s holdings, making the stock its 2nd biggest position. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Apple were worth $53,234,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Cardinal Capital Management Inc. raised its holdings in Apple by 5,525.0% during 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 during the period. Shore Point Advisors LLC bought a new stake in shares of Apple during the 4th quarter valued at $41,000. Emerson Wealth LLC boosted its stake in Apple by 363.6% in the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after purchasing an additional 320 shares during the period. Econ Financial Services Corp grew its holdings in Apple by 29.1% during the 1st quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock valued at $74,000 after buying an additional 95 shares in the last quarter. Finally, Castle Financial & Retirement Planning Associates Inc. bought a new stake in shares of Apple during the fourth quarter valued at about $116,000. 57.72% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on AAPL shares. UBS Group set a $185.00 price objective on shares of Apple in a research report on Thursday, July 21st. Wedbush upped their price target on shares of Apple from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, August 17th. Bank of America dropped their price objective on Apple from $200.00 to $185.00 in a research note on Tuesday, July 26th. The Goldman Sachs Group set a $139.00 target price on Apple in a research note on Friday, July 29th. Finally, Itaú Unibanco began coverage on Apple in a research report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price target for the company. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average price target of $182.00.
Insider Buying and Selling at Apple
In other news, CFO Luca Maestri sold 96,735 shares of Apple 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 completion of the sale, the chief financial officer now directly owns 110,673 shares in the company, valued at $19,362,241.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other 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 value of $4,119,250.00. Following the transaction, the senior vice president now directly owns 427,334 shares in the company, valued at approximately $70,411,823.18. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction 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 sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.
Apple Stock Down 1.4 %
AAPL stock opened at $155.81 on Tuesday. 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 company has a market capitalization of $2.50 trillion, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 2.02 and a beta of 1.23. The business’s 50 day moving average price is $156.11 and its two-hundred day moving average price is $157.00. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94.
Apple (NASDAQ:AAPL – Get Rating) last issued its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.06. The firm had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.30 earnings per share. As a group, analysts forecast that Apple Inc. will post 6.1 earnings per share for the current fiscal year.
Apple Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s dividend payout ratio (DPR) is 15.18%.
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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