Brinker Capital Investments LLC trimmed its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 4.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 677,348 shares of the iPhone maker’s stock after selling 30,184 shares during the quarter. Apple comprises about 1.8% of Brinker Capital Investments LLC’s investment portfolio, making the stock its 3rd biggest position. Brinker Capital Investments LLC’s holdings in Apple were worth $118,272,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Cardinal Capital Management Inc. lifted its position in Apple by 5,525.0% during the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock valued at $39,000 after purchasing an additional 221 shares during the last quarter. Shore Point Advisors LLC purchased a new stake in shares of Apple during the 4th quarter valued at about $41,000. HBC Financial Services PLLC lifted its holdings in shares of Apple by 21.7% in the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after acquiring an additional 80 shares during the last quarter. Emerson Wealth LLC grew its position in Apple by 363.6% in the first quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after acquiring an additional 320 shares in the last quarter. Finally, Econ Financial Services Corp increased its stake in Apple by 29.1% during the first quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock worth $74,000 after acquiring an additional 95 shares during the last quarter. 57.72% of the stock is currently owned by hedge funds and other institutional investors.
Apple Trading Up 1.9 %
Shares of NASDAQ:AAPL opened at $157.37 on Monday. 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 company has a market capitalization of $2.53 trillion, a PE ratio of 25.97, a P/E/G ratio of 2.03 and a beta of 1.23. Apple Inc. has a 12-month low of $129.04 and a 12-month high of $182.94. The business’s fifty day simple moving average is $158.47 and its 200-day simple moving average is $156.30.
Apple (NASDAQ:AAPL – Get Rating) last posted its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.06. The company had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.30 earnings per share. As a group, equities research analysts predict that Apple Inc. will post 6.11 earnings per share for the current fiscal year.
Apple Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were paid a dividend of $0.23 per share. The ex-dividend date was Friday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 0.58%. Apple’s dividend payout ratio (DPR) is presently 15.18%.
Insider Buying and Selling at Apple
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 completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now owns 427,334 shares in the company, valued at $70,411,823.18. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the completion of the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.
Analysts Set New Price Targets
Several research firms have recently issued reports on AAPL. KeyCorp raised their price objective on Apple from $177.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, August 19th. Itau BBA Securities initiated coverage on shares of Apple in a research report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price objective on the stock. Monness Crespi & Hardt initiated coverage on shares of Apple in a report on Thursday. They issued a “buy” rating and a $174.00 target price for the company. Rosenblatt Securities cut their price target on shares of Apple from $168.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, July 29th. Finally, Itaú Unibanco started coverage on shares of Apple in a research note on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price objective for the company. Two analysts have rated the stock with a sell rating, six have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $181.31.
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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