Golden State Wealth Management LLC raised its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 100.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 248,492 shares of the iPhone maker's stock after purchasing an additional 124,674 shares during the period. Apple accounts for 4.0% of Golden State Wealth Management LLC's portfolio, making the stock its 2nd largest holding. Golden State Wealth Management LLC's holdings in Apple were worth $55,207,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. First Pacific Financial increased its position in shares of Apple by 4.9% in the 1st quarter. First Pacific Financial now owns 14,729 shares of the iPhone maker's stock valued at $3,272,000 after buying an additional 691 shares in the last quarter. Aurora Private Wealth Inc. boosted its holdings in shares of Apple by 1,216.9% in the first quarter. Aurora Private Wealth Inc. now owns 438,163 shares of the iPhone maker's stock valued at $97,329,000 after buying an additional 404,891 shares during the period. Williams Financial LLC boosted its position in shares of Apple by 234.3% during the first quarter. Williams Financial LLC now owns 3,035 shares of the iPhone maker's stock worth $674,000 after buying an additional 2,127 shares during the period. MOKAN Wealth Management Inc. raised its position in Apple by 7.6% in the 1st quarter. MOKAN Wealth Management Inc. now owns 27,511 shares of the iPhone maker's stock valued at $6,112,000 after buying an additional 1,948 shares during the last quarter. Finally, waypoint wealth counsel increased its holdings in Apple by 1.3% during the first quarter. waypoint wealth counsel now owns 31,282 shares of the iPhone maker's stock worth $6,949,000 after buying an additional 405 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.
Apple Trading Up 4.2%
Shares of AAPL stock traded up $9.32 during mid-day trading on Friday, reaching $229.35. The company's stock had a trading volume of 113,661,399 shares, compared to its average volume of 57,968,961. The company's 50 day simple moving average is $206.24 and its 200-day simple moving average is $213.17. The firm has a market capitalization of $3.40 trillion, a PE ratio of 34.80, a price-to-earnings-growth ratio of 2.24 and a beta of 1.16. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. 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 (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.14. The business had revenue of $94.04 billion for 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%. The business's revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the business posted $1.40 EPS. On average, research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple declared that its Board of Directors has approved a share repurchase plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.
Apple Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Monday, August 11th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, August 11th. Apple's dividend payout ratio is currently 15.78%.
Insiders Place Their Bets
In other news, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction that occurred 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 in the company, valued at $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.06% of the company's stock.
Analysts Set New Price Targets
AAPL has been the topic of several recent analyst reports. Raymond James Financial reissued an "outperform" rating and issued a $240.00 target price (up from $230.00) on shares of Apple in a report on Friday, August 1st. UBS Group upped their price target on shares of Apple from $210.00 to $220.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Morgan Stanley raised their price target on shares of Apple from $235.00 to $240.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Monness Crespi & Hardt boosted their price objective on shares of Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Finally, KeyCorp raised Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $237.60.
Check Out Our Latest Stock Analysis on AAPL
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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