JGP Wealth Management LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 219,133 shares of the iPhone maker's stock after selling 2,186 shares during the quarter. Apple makes up 6.4% of JGP Wealth Management LLC's holdings, making the stock its 2nd largest holding. JGP Wealth Management LLC's holdings in Apple were worth $48,676,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Regent Peak Wealth Advisors LLC boosted its position in Apple by 0.9% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 111,858 shares of the iPhone maker's stock valued at $28,012,000 after purchasing an additional 1,050 shares in the last quarter. RMR Wealth Builders boosted its position in Apple by 0.7% during the fourth quarter. RMR Wealth Builders now owns 119,262 shares of the iPhone maker's stock valued at $29,866,000 after purchasing an additional 786 shares in the last quarter. R.H. Investment Group LLC bought a new stake in Apple during the fourth quarter valued at about $5,375,000. Roble Belko & Company Inc boosted its position in Apple by 3.8% during the fourth quarter. Roble Belko & Company Inc now owns 3,926 shares of the iPhone maker's stock valued at $983,000 after purchasing an additional 145 shares in the last quarter. Finally, Websterrogers Financial Advisors LLC boosted its position in Apple by 51.7% during the fourth quarter. Websterrogers Financial Advisors LLC now owns 6,836 shares of the iPhone maker's stock valued at $1,712,000 after purchasing an additional 2,329 shares in the last quarter. Institutional investors own 67.73% of the company's stock.
Apple Price Performance
AAPL traded down $1.02 during trading on Monday, hitting $200.06. The company's stock had a trading volume of 16,234,915 shares, compared to its average volume of 53,218,089. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The business's fifty day simple moving average is $202.61 and its 200 day simple moving average is $219.83. The firm has a market capitalization of $2.99 trillion, a price-to-earnings ratio of 31.15, a P/E/G ratio of 2.25 and a beta of 1.22.
Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating the consensus estimate of $1.62 by $0.03. Apple had a return on equity of 167.24% and a net margin of 24.30%. The company had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. During the same period last year, the company earned $1.53 earnings per share. Apple's quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were issued a $0.26 dividend. This is a positive change from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.52%. The ex-dividend date was Monday, May 12th. Apple's dividend payout ratio (DPR) is presently 16.20%.
Apple announced that its Board of Directors has initiated a share buyback program on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its stock is undervalued.
Analyst Ratings Changes
AAPL has been the topic of a number of recent research reports. Morgan Stanley reaffirmed an "overweight" rating on shares of Apple in a research report on Friday, June 13th. Barclays set a $173.00 price objective on shares of Apple and gave the company an "underweight" rating in a report on Tuesday, June 24th. Scotiabank cut shares of Apple to a "market perform" rating in a research note on Friday, May 2nd. Rosenblatt Securities lowered shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 price target on the stock. in a research note on Friday, May 2nd. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Apple in a research note on Wednesday, May 21st. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Apple currently has a consensus rating of "Moderate Buy" and an average target price of $234.39.
Read Our Latest Stock Report on Apple
Insider Buying and Selling at Apple
In other news, insider Chris Kondo sold 4,486 shares of Apple 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 sale, the insider now directly owns 15,533 shares of the company's stock, 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 legal filing with the SEC, which is available at 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 completion of the sale, the chief financial officer now directly owns 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. Over the last three months, insiders have sold 191,507 shares of company stock valued at $42,694,080. Company insiders own 0.06% of the company's stock.
Apple Company Profile
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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.
Further Reading
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