Beacon Financial Group lifted its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 44,357 shares of the iPhone maker's stock after buying an additional 1,280 shares during the period. Apple makes up about 1.1% of Beacon Financial Group's portfolio, making the stock its 19th largest position. Beacon Financial Group's holdings in Apple were worth $9,853,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Advanced Portfolio Management LLC raised its position in Apple by 0.3% during the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock worth $3,260,000 after acquiring an additional 47 shares during the last quarter. Hanseatic Management Services Inc. grew its position in shares of Apple by 1.3% during the fourth quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker's stock worth $945,000 after buying an additional 48 shares in the last quarter. Family Capital Management Inc. grew its position in shares of Apple by 0.3% in the 4th quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock worth $4,235,000 after acquiring an additional 48 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA raised its holdings in shares of Apple by 0.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock worth $4,178,000 after purchasing an additional 48 shares during the period. Finally, Scarborough Advisors LLC raised its stake in Apple by 0.3% during the fourth quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker's stock worth $3,992,000 after acquiring an additional 51 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.
Apple Stock Performance
Shares of Apple stock traded up $0.92 during trading on Friday, reaching $213.36. The company's stock had a trading volume of 34,955,836 shares, compared to its average volume of 53,618,682. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. The firm has a market cap of $3.19 trillion, a price-to-earnings ratio of 33.23, a price-to-earnings-growth ratio of 2.38 and a beta of 1.20. The business's fifty day moving average price is $203.35 and its 200-day moving average price is $218.86.
Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. Apple had a return on equity of 167.24% and a net margin of 24.30%. The firm had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. During the same quarter last year, the firm posted $1.53 EPS. The company's revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.
Apple Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were given a dividend of $0.26 per share. The ex-dividend date was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.49%. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is 16.20%.
Apple declared that its Board of Directors has approved a share repurchase plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its stock is undervalued.
Wall Street Analyst Weigh In
AAPL has been the subject of several recent research reports. Morgan Stanley restated an "overweight" rating on shares of Apple in a research report on Friday, June 13th. Barclays set a $173.00 target price on shares of Apple and gave the company an "underweight" rating in a research note on Tuesday, June 24th. JPMorgan Chase & Co. dropped their target price on Apple from $245.00 to $230.00 and set an "overweight" rating on the stock in a report on Thursday, June 26th. Scotiabank downgraded Apple to a "market perform" rating in a report on Friday, May 2nd. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research report on Tuesday, June 10th. Two analysts have rated the stock with a sell rating, thirteen have given 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.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $234.95.
Check Out Our Latest Stock Report on AAPL
Insider Buying and Selling at Apple
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 of the company's stock, 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 SEC, which is available at this link. Also, CFO Kevan Parekh sold 4,570 shares of the firm's 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 owned 4,569 shares of the company's stock, valued at $941,214. This represents a 50.01% decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.
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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