Ade LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 7.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,150 shares of the iPhone maker's stock after selling 1,179 shares during the quarter. Apple comprises about 1.8% of Ade LLC's investment portfolio, making the stock its 14th biggest holding. Ade LLC's holdings in Apple were worth $3,143,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of AAPL. Advanced Portfolio Management LLC lifted its holdings in Apple by 0.3% during the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock valued at $3,260,000 after purchasing an additional 47 shares in the last quarter. Salus Financial Advisors LLC lifted its holdings in Apple by 3.9% during the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker's stock valued at $291,000 after purchasing an additional 49 shares in the last quarter. Disciplined Investments LLC lifted its holdings in Apple by 0.7% during the fourth quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker's stock valued at $1,794,000 after purchasing an additional 51 shares in the last quarter. Sharpepoint LLC lifted its holdings in Apple by 3.5% during the first quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker's stock valued at $322,000 after purchasing an additional 51 shares in the last quarter. Finally, Redwood Financial Network Corp lifted its holdings in Apple by 0.6% during the fourth quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker's stock valued at $2,184,000 after purchasing an additional 53 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.
Apple Trading Up 0.9%
Shares of AAPL opened at $232.56 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The stock has a market capitalization of $3.45 trillion, a PE ratio of 35.29, a P/E/G ratio of 2.41 and a beta of 1.16. The company's fifty day moving average is $215.17 and its 200 day moving average is $213.08.
Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $94.04 billion for the quarter, compared to analysts' expectations of $88.64 billion. During the same quarter in the previous year, the business posted $1.40 earnings per share. The business's revenue was up 9.6% compared to the same quarter last year. Sell-side analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple declared that its board has authorized a share buyback plan on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its stock is undervalued.
Apple Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were given a dividend of $0.26 per share. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple's payout ratio is 15.78%.
Insiders Place Their Bets
In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the transaction, the senior vice president owned 136,687 shares in the company, valued at $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.06% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the stock. Scotiabank cut shares of Apple to a "market perform" rating in a research report on Friday, May 2nd. Raymond James Financial reiterated an "outperform" rating and set a $240.00 price objective (up previously from $230.00) on shares of Apple in a research report on Friday, August 1st. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research report on Friday, July 25th. Jefferies Financial Group upgraded shares of Apple from an "underperform" rating to a "hold" rating in a research report on Friday, July 18th. Finally, UBS Group lifted their price objective on shares of Apple from $210.00 to $220.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $237.37.
View Our Latest Analysis on Apple
Apple Profile
(
Free Report)
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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