CMG Global Holdings LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 6.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,858 shares of the iPhone maker's stock after selling 1,966 shares during the period. Apple makes up 4.1% of CMG Global Holdings LLC's holdings, making the stock its 4th largest position. CMG Global Holdings LLC's holdings in Apple were worth $6,221,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Advanced Portfolio Management LLC grew its holdings in shares of Apple by 0.3% during the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock valued at $3,260,000 after acquiring an additional 47 shares in the last quarter. Family Capital Management Inc. grew its holdings in shares of Apple by 0.3% during the 4th quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock valued at $4,235,000 after acquiring an additional 48 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in shares of Apple by 0.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock valued at $4,178,000 after acquiring an additional 48 shares in the last quarter. Salus Financial Advisors LLC grew its holdings in shares of Apple by 3.9% during the 1st quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker's stock valued at $291,000 after acquiring an additional 49 shares in the last quarter. Finally, Scarborough Advisors LLC grew its holdings in shares of Apple by 0.3% during the 4th quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker's stock valued at $3,992,000 after acquiring an additional 51 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on AAPL shares. The Goldman Sachs Group restated a "buy" rating on shares of Apple in a report on Wednesday, May 21st. Needham & Company LLC reissued a "hold" rating on shares of Apple in a research report on Friday, July 25th. DA Davidson restated a "buy" rating and set a $250.00 price objective on shares of Apple in a report on Friday, August 1st. Jefferies Financial Group upgraded shares of Apple from an "underperform" rating to a "hold" rating in a report on Friday, July 18th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $240.00 target price (up previously from $230.00) on shares of Apple in a research note on Friday, August 1st. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $237.60.
View Our Latest Analysis on AAPL
Insider Activity
In other news, SVP Deirdre O'brien sold 34,821 shares of the 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 owned 136,687 shares of the company's stock, valued at $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is owned by corporate insiders.
Apple Stock Down 0.5%
Shares of AAPL stock traded down $1.19 during trading hours on Friday, hitting $231.59. 56,003,275 shares of the company were exchanged, compared to its average volume of 63,552,584. The business has a 50 day moving average of $209.69 and a two-hundred day moving average of $213.14. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a market capitalization of $3.44 trillion, a PE ratio of 35.14, a PEG ratio of 2.42 and a beta of 1.16.
Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data 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. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same quarter in the prior year, the firm earned $1.40 earnings per share. The firm's revenue was up 9.6% compared to the same quarter last year. Analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were given 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 dividend payout ratio is currently 15.78%.
Apple declared that its board has authorized a share repurchase plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in shares. This repurchase authorization allows the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.
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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