Acorns Advisers LLC Buys 4,104 Shares of Apple Inc. $AAPL

Key Points

• Acorns Advisers LLC increased its stake in Apple by 18.9% in the first quarter, now owning 25,785 shares valued at approximately $5.7 million.
• Apple's recent quarterly earnings report revealed an earnings per share (EPS) of $1.57, exceeding analysts' estimates, and a revenue of $94.04 billion, a 9.6% increase year-over-year.
• Equities research analysts set diverse price targets for Apple, with an average target of $240.80 reflecting a consensus rating of "Moderate Buy".

Acorns Advisers LLC boosted its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 18.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,785 shares of the iPhone maker's stock after purchasing an additional 4,104 shares during the quarter. Apple comprises 0.1% of Acorns Advisers LLC's portfolio, making the stock its 25th largest holding. Acorns Advisers LLC's holdings in Apple were worth $5,728,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in AAPL. Advanced Portfolio Management LLC grew its stake in Apple by 0.3% in the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock valued at $3,260,000 after acquiring an additional 47 shares during the period. Salus Financial Advisors LLC grew its stake in Apple by 3.9% in the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker's stock valued at $291,000 after acquiring an additional 49 shares during the period. Sharpepoint LLC grew its stake in Apple by 3.5% in the first quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker's stock valued at $322,000 after acquiring an additional 51 shares during the period. Redwood Financial Network Corp grew its stake in Apple by 0.6% in the fourth quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker's stock valued at $2,184,000 after acquiring an additional 53 shares during the period. Finally, Mission Hills Financial Advisory LLC grew its stake in Apple by 1.3% in the first quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker's stock valued at $892,000 after acquiring an additional 53 shares during the period. Institutional investors own 67.73% of the company's stock.

Apple Stock Performance

Shares of AAPL opened at $234.07 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $3.47 trillion, a price-to-earnings ratio of 35.52, a PEG ratio of 2.39 and a beta of 1.11. The stock has a 50 day moving average of $221.50 and a 200 day moving average of $212.20. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. The company had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.Apple's revenue was up 9.6% on a year-over-year basis. During the same period last year, the business posted $1.40 earnings per share. As a group, sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple's dividend payout ratio (DPR) is presently 15.78%.

Analysts Set New Price Targets

A number of equities research analysts have commented on AAPL shares. Phillip Securities cut Apple from a "hold" rating to a "moderate sell" rating and set a $200.00 price objective for the company. in a research note on Thursday. Raymond James Financial reissued an "outperform" rating and issued a $240.00 price objective (up previously from $230.00) on shares of Apple in a research note on Friday, August 1st. Barclays raised their target price on Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a report on Friday, August 1st. Wedbush restated an "outperform" rating and issued a $270.00 target price on shares of Apple in a report on Tuesday, September 9th. Finally, Moffett Nathanson upgraded Apple from a "sell" rating to a "neutral" rating and set a $225.00 target price on the stock in a report on Thursday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and an average price target of $240.80.

Insider Activity at Apple

In related news, SVP Deirdre O'brien sold 34,821 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the sale, the senior vice president directly owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.06% of the company's stock.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

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