Apple Inc. (NASDAQ:AAPL) Shares Bought by Magnus Financial Group LLC

Magnus Financial Group LLC raised its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 5.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 139,120 shares of the iPhone maker's stock after purchasing an additional 7,090 shares during the period. Apple accounts for 3.0% of Magnus Financial Group LLC's investment portfolio, making the stock its 6th largest holding. Magnus Financial Group LLC's holdings in Apple were worth $30,903,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in AAPL. Drystone LLC purchased a new position in shares of Apple during the fourth quarter worth about $25,000. Life Planning Partners Inc purchased a new stake in shares of Apple in the fourth quarter valued at about $47,000. Conquis Financial LLC purchased a new position in shares of Apple in the 4th quarter valued at approximately $63,000. LSV Asset Management purchased a new stake in shares of Apple during the fourth quarter worth approximately $65,000. Finally, Pillar Financial Advisors LLC acquired a new stake in shares of Apple during the fourth quarter worth $82,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on AAPL shares. Barclays set a $173.00 price objective on shares of Apple and gave the company an "underweight" rating in a research note on Tuesday, June 24th. DA Davidson boosted their target price on shares of Apple from $230.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Citigroup reaffirmed a "buy" rating on shares of Apple in a research note on Tuesday, June 10th. Needham & Company LLC reissued a "hold" rating on shares of Apple in a research note on Tuesday, June 10th. Finally, Tigress Financial increased their price target on Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a research note on Thursday, April 3rd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $234.95.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the transaction, the insider owned 15,533 shares in the company, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the sale, the chief financial officer owned 4,569 shares in the company, valued at $941,214. This represents a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

Apple Stock Up 0.4%

NASDAQ AAPL opened at $213.36 on Friday. 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 fifty-two week low of $169.21 and a fifty-two week high of $260.10. The business has a 50 day moving average price of $203.35 and a two-hundred day moving average price of $218.86. The stock has a market cap of $3.19 trillion, a PE ratio of 33.23, a P/E/G ratio of 2.38 and a beta of 1.20.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 167.24%. The business had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. During the same period last year, the business earned $1.53 EPS. The business's revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Increases Dividend

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

Apple declared that its Board of Directors has approved 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 reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Apple Profile

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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