Apple Inc. $AAPL Shares Bought by Argentarii LLC

Key Points

• Argentarii LLC has increased its holdings in Apple Inc. by 5.1%, making the tech giant its largest investment, now accounting for 6.6% of its portfolio.
• Several institutional investors, including Vanguard Group and UBS Asset Management, have also increased their stakes in Apple, showcasing significant faith in the company's potential.
• Apple's recent quarterly earnings exceeded analysts' expectations with an EPS of $1.57 and revenue of $94.04 billion, along with a new stock buyback program worth $100 billion.

Argentarii LLC lifted its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 5.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 60,177 shares of the iPhone maker's stock after purchasing an additional 2,900 shares during the quarter. Apple accounts for about 6.6% of Argentarii LLC's investment portfolio, making the stock its largest holding. Argentarii LLC's holdings in Apple were worth $13,367,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Life Planning Partners Inc purchased a new stake in shares of Apple in the 4th quarter valued at approximately $47,000. Elite Financial Inc. purchased a new position in Apple in the first quarter valued at about $58,000. Conquis Financial LLC bought a new stake in shares of Apple in the 4th quarter valued at approximately $63,000. LSV Asset Management bought a new position in shares of Apple during the 4th quarter valued at $65,000. Finally, Pillar Financial Advisors LLC bought a new position in Apple during the fourth quarter valued at about $82,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Stock Performance

Apple stock traded up $2.86 during trading hours on Friday, hitting $227.76. The stock had a trading volume of 42,431,176 shares, compared to its average volume of 61,854,304. The company has a 50-day moving average of $212.52 and a two-hundred day moving average of $212.96. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The company has a market cap of $3.38 trillion, a PE ratio of 34.56, a price-to-earnings-growth ratio of 2.38 and a beta of 1.16.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business had revenue of $94.04 billion for the quarter, compared to analysts' expectations of $88.64 billion. During the same period in the previous year, the business posted $1.40 earnings per share. Apple's quarterly revenue was up 9.6% on a year-over-year basis. On average, equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Monday, August 11th. Apple's payout ratio is currently 15.78%.

Apple declared that its board has approved a share buyback plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AAPL shares. Needham & Company LLC restated a "hold" rating on shares of Apple in a research note on Friday, July 25th. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $217.00 price target on shares of Apple in a research report on Tuesday, July 29th. Evercore ISI reiterated an "outperform" rating and issued a $250.00 price objective on shares of Apple in a research note on Wednesday, August 13th. DA Davidson restated a "buy" rating and set a $250.00 target price on shares of Apple in a research note on Friday, August 1st. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Apple in a report on Wednesday, May 21st. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Apple presently has an average rating of "Moderate Buy" and a consensus target price of $237.98.

Insider Activity at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the sale, the senior vice president owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.06% of the company's stock.

Apple Profile

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.