Omnia Family Wealth LLC increased its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 11.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,413 shares of the iPhone maker's stock after acquiring an additional 4,365 shares during the quarter. Apple makes up about 3.8% of Omnia Family Wealth LLC's holdings, making the stock its 6th biggest position. Omnia Family Wealth LLC's holdings in Apple were worth $9,199,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the business. New World Advisors LLC increased its stake in Apple by 2.3% in the 1st quarter. New World Advisors LLC now owns 26,832 shares of the iPhone maker's stock valued at $5,960,000 after buying an additional 593 shares during the period. Cvfg LLC increased its stake in Apple by 1.4% in the 1st quarter. Cvfg LLC now owns 32,040 shares of the iPhone maker's stock valued at $7,117,000 after buying an additional 437 shares during the period. Generate Investment Management Ltd increased its stake in Apple by 3.2% in the 1st quarter. Generate Investment Management Ltd now owns 182,160 shares of the iPhone maker's stock valued at $40,463,000 after buying an additional 5,618 shares during the period. Alpine Bank Wealth Management acquired a new position in Apple in the 1st quarter valued at $5,248,000. Finally, NRI Wealth Management LC increased its stake in Apple by 3.3% in the 1st quarter. NRI Wealth Management LC now owns 34,079 shares of the iPhone maker's stock valued at $7,570,000 after buying an additional 1,098 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
AAPL has been the topic of several recent research reports. Barclays boosted their price objective on shares of Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. boosted their target price on shares of Apple from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Loop Capital decreased their target price on shares of Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. Raymond James Financial restated an "outperform" rating and set a $240.00 target price (up from $230.00) on shares of Apple in a research report on Friday, August 1st. Finally, KeyCorp upgraded shares of Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $237.60.
Read Our Latest Report on Apple
Insiders Place Their Bets
In other Apple 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 value of $933,940.34. Following the completion of the transaction, the insider owned 15,533 shares in the company, valued at $3,233,815.27. This represents a 22.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is currently owned by corporate insiders.
Apple Trading Up 4.2%
AAPL traded up $9.32 on Friday, reaching $229.35. 113,661,399 shares of the company's stock were exchanged, compared to its average volume of 56,719,256. The company has a market cap of $3.40 trillion, a price-to-earnings ratio of 34.80, a PEG ratio of 2.30 and a beta of 1.16. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company's 50 day moving average is $206.84 and its 200-day moving average is $213.21. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87.
Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. The firm had revenue of $94.04 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.40 EPS. Equities analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.
Apple Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Monday, August 11th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Monday, August 11th. Apple's dividend payout ratio is currently 15.78%.
Apple declared that its board has authorized a share buyback program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership 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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