Ledge Wealth Management Inc. bought a new position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 25,856 shares of the iPhone maker’s stock, valued at approximately $4,515,000. Apple comprises approximately 2.8% of Ledge Wealth Management Inc.’s investment portfolio, making the stock its 11th largest position.
A number of other large investors have also recently modified their holdings of AAPL. Donald L. Hagan LLC grew its stake in Apple by 0.3% in the first quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock valued at $3,181,000 after acquiring an additional 61 shares during the period. Goodwin Daniel L grew its position in Apple by 0.5% in the 1st quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock valued at $2,230,000 after purchasing an additional 62 shares during the period. Opus Capital Group LLC increased its stake in Apple by 0.3% during the 1st quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock valued at $3,332,000 after purchasing an additional 63 shares in the last quarter. Norwood Financial Corp raised its holdings in Apple by 0.9% during the first quarter. Norwood Financial Corp now owns 7,025 shares of the iPhone maker’s stock worth $1,227,000 after buying an additional 65 shares during the last quarter. Finally, Investors Research Corp lifted its stake in shares of Apple by 0.4% in the first quarter. Investors Research Corp now owns 16,117 shares of the iPhone maker’s stock valued at $2,814,000 after buying an additional 66 shares in the last quarter. Institutional investors and hedge funds own 57.72% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the stock. UBS Group set a $185.00 target price on shares of Apple in a report on Thursday, July 21st. JPMorgan Chase & Co. set a $200.00 price objective on Apple in a research note on Monday, August 29th. Fundamental Research set a $177.07 target price on Apple and gave the company a “buy” rating in a research report on Thursday, August 4th. Itaú Unibanco started coverage on Apple in a research report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price target for the company. Finally, Itau BBA Securities assumed coverage on shares of Apple in a research note on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 target price for the company. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $182.00.
Apple Price Performance
Shares of NASDAQ:AAPL opened at $155.81 on Tuesday. The company has a 50 day moving average of $156.11 and a 200 day moving average of $157.00. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63. The stock 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 Inc. has a 12 month low of $129.04 and a 12 month high of $182.94.
Apple (NASDAQ:AAPL – Get Rating) last released its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. Apple had a net margin of 25.71% and a return on equity of 152.97%. The firm had revenue of $82.96 billion during the quarter, compared to analyst estimates of $82.97 billion. During the same period in the previous year, the business earned $1.30 EPS. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, sell-side analysts forecast that Apple Inc. will post 6.1 EPS for the current fiscal year.
Apple Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were issued a $0.23 dividend. 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 payout ratio is currently 15.18%.
Insider Transactions 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 value of $16,923,788.25. Following the sale, the chief financial officer now directly 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 Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Luca Maestri sold 96,735 shares of the 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 transaction, the chief financial officer now owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The shares were 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 in the company, valued at approximately $70,411,823.18. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.
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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