St. Johns Investment Management Company LLC lifted its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 51,650 shares of the iPhone maker's stock after purchasing an additional 1,943 shares during the quarter. Apple accounts for about 5.7% of St. Johns Investment Management Company LLC's investment portfolio, making the stock its 2nd largest holding. St. Johns Investment Management Company LLC's holdings in Apple were worth $11,473,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Tallon Kerry Patrick acquired a new stake in shares of Apple during the 4th quarter valued at about $1,877,000. First National Bank of Hutchinson boosted its stake in Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after buying an additional 6,982 shares in the last quarter. Capital & Planning LLC grew its holdings in shares of Apple by 10.7% during the fourth quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker's stock worth $6,836,000 after purchasing an additional 2,647 shares during the last quarter. Eagle Capital Management LLC lifted its position in Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock worth $13,544,000 after buying an additional 272 shares in the last quarter. Finally, Brighton Jones LLC lifted its position in Apple by 14.8% during the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock worth $134,554,000 after buying an additional 69,207 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.
Insider Activity
In other Apple news, insider Chris Kondo sold 4,486 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the transaction, the insider directly owned 15,533 shares of the company's stock, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on AAPL shares. UBS Group upped their price target on Apple from $210.00 to $220.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. KeyCorp raised Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. Citigroup upped their price objective on Apple from $240.00 to $245.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Morgan Stanley increased their price target on Apple from $235.00 to $240.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, JPMorgan Chase & Co. upped their price target on shares of Apple from $250.00 to $255.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Apple has a consensus rating of "Moderate Buy" and a consensus price target of $237.25.
Check Out Our Latest Stock Report on AAPL
Apple Stock Performance
Shares of AAPL stock traded up $10.20 during trading on Wednesday, hitting $213.12. The company's stock had a trading volume of 102,898,971 shares, compared to its average volume of 57,348,797. The company has a market cap of $3.16 trillion, a PE ratio of 32.34, a P/E/G ratio of 2.14 and a beta of 1.16. 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 business has a fifty day moving average of $205.58 and a 200-day moving average of $213.24. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10.
Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) 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 analyst estimates of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%. Apple's quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.40 earnings per share. As a group, research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.
Apple declared that its Board of Directors has authorized a stock repurchase plan on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.
Apple Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Monday, August 11th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.5%. Apple's dividend 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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