Freedom Day Solutions LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 4.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,141 shares of the iPhone maker's stock after selling 1,704 shares during the quarter. Apple comprises about 2.8% of Freedom Day Solutions LLC's holdings, making the stock its 3rd largest position. Freedom Day Solutions LLC's holdings in Apple were worth $9,139,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in AAPL. Burkett Financial Services LLC boosted its holdings in Apple by 0.6% in the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock valued at $3,199,000 after purchasing an additional 93 shares in the last quarter. Avid Wealth Partners LLC boosted its holdings in Apple by 28.3% in the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker's stock valued at $935,000 after purchasing an additional 930 shares in the last quarter. OneAscent Wealth Management LLC boosted its holdings in Apple by 4.6% in the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock valued at $2,337,000 after purchasing an additional 409 shares in the last quarter. TruWealth Advisors LLC boosted its holdings in Apple by 2.8% in the 1st quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker's stock valued at $42,045,000 after purchasing an additional 5,120 shares in the last quarter. Finally, Allstate Corp boosted its holdings in Apple by 3,368.2% in the 4th quarter. Allstate Corp now owns 451,489 shares of the iPhone maker's stock valued at $113,062,000 after purchasing an additional 438,471 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.
Insider Activity
In other 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 completion of the sale, the senior vice president directly owned 136,687 shares of the company's stock, valued at $30,508,538.40. The trade was a 20.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on AAPL. Raymond James Financial reaffirmed an "outperform" rating and issued a $240.00 price objective (up previously from $230.00) on shares of Apple in a report on Friday, August 1st. DA Davidson restated a "buy" rating and issued a $250.00 price target on shares of Apple in a report on Friday, August 1st. TD Cowen dropped their price objective on Apple from $290.00 to $275.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Bank of America reaffirmed a "buy" rating and issued a $250.00 price objective on shares of Apple in a research note on Monday. Finally, Evercore ISI reaffirmed an "outperform" rating and issued a $250.00 price objective on shares of Apple in a research note on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $237.37.
Get Our Latest Stock Report on Apple
Apple Trading Up 0.9%
Shares of AAPL opened at $232.56 on Friday. The stock has a fifty day moving average of $215.17 and a two-hundred day moving average of $213.08. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The company has a market capitalization of $3.45 trillion, a PE ratio of 35.29, a price-to-earnings-growth ratio of 2.41 and a beta of 1.16. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week 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 earnings per share for the quarter, beating the consensus estimate 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 in the previous year, the firm posted $1.40 EPS. As a group, analysts forecast that Apple Inc. will post 7.28 EPS for the current year.
Apple announced that its Board of Directors has initiated a stock buyback plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are undervalued.
Apple Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple's payout ratio is currently 15.78%.
About Apple
(
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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