Apple Inc. (NASDAQ:AAPL) is Radnor Capital Management LLC's 4th Largest Position

Radnor Capital Management LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 73,894 shares of the iPhone maker's stock after purchasing an additional 1,663 shares during the period. Apple makes up 2.7% of Radnor Capital Management LLC's portfolio, making the stock its 4th largest holding. Radnor Capital Management LLC's holdings in Apple were worth $16,414,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Burkett Financial Services LLC boosted its stake in shares of Apple by 0.6% during the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock worth $3,199,000 after purchasing an additional 93 shares during the period. OneAscent Wealth Management LLC lifted its holdings in Apple by 4.6% during the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock valued at $2,337,000 after buying an additional 409 shares in the last quarter. TruWealth Advisors LLC lifted its holdings in Apple by 2.8% during the 1st quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker's stock valued at $42,045,000 after buying an additional 5,120 shares in the last quarter. Allstate Corp lifted its holdings in Apple by 3,368.2% during the 4th quarter. Allstate Corp now owns 451,489 shares of the iPhone maker's stock valued at $113,062,000 after buying an additional 438,471 shares in the last quarter. Finally, Vinva Investment Management Ltd lifted its holdings in Apple by 12.4% during the 4th quarter. Vinva Investment Management Ltd now owns 764,075 shares of the iPhone maker's stock valued at $192,700,000 after buying an additional 83,997 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AAPL. Jefferies Financial Group upgraded shares of Apple from an "underperform" rating to a "hold" rating and lifted their price objective for the company from $170.62 to $188.32 in a report on Tuesday, July 1st. Bank of America reiterated a "buy" rating and set a $235.00 price objective on shares of Apple in a report on Tuesday, June 10th. TD Cowen decreased their price objective on shares of Apple from $290.00 to $275.00 and set a "buy" rating for the company in a report on Friday, May 2nd. UBS Group set a $210.00 price objective on shares of Apple and gave the company a "neutral" rating in a report on Thursday. Finally, KeyCorp upgraded shares of Apple from an "underweight" rating to a "sector weight" rating in a report on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Apple has an average rating of "Moderate Buy" and an average price target of $234.95.

Insider Activity at Apple

In other Apple news, CFO Kevan Parekh sold 4,570 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the sale, the chief financial officer owned 4,569 shares of the company's stock, valued at approximately $941,214. The trade was a 50.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Chris Kondo sold 4,486 shares of the business'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 sale, the insider directly owned 15,533 shares in the company, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

Apple Stock Up 0.4%

Shares of Apple stock opened at $213.36 on Friday. The firm's 50 day moving average price is $203.35 and its 200-day moving average price is $218.66. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The company has a market cap of $3.19 trillion, a P/E ratio of 33.23, a PEG ratio of 2.38 and a beta of 1.20.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. The firm had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The company's quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.53 EPS. On average, sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is currently 16.20%.

Apple announced that its board has authorized a stock repurchase program on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

About Apple

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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