Cloud Capital Management LLC Buys Shares of 15,612 Apple Inc. $AAPL

Key Points

• Cloud Capital Management LLC acquired 15,612 shares of Apple Inc., valued at approximately $3.47 million, making Apple 2.5% of its investment portfolio.
• Analysts have set a consensus price target of $237.98 for Apple, with ratings ranging from "Strong Buy" to "Sell" from various equity research firms.
• Apple announced a recent quarterly dividend of $0.26 per share and has initiated a $100 billion share buyback program to repurchase up to 3.1% of its shares, indicating a belief in its undervalued stock.

Cloud Capital Management LLC bought a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,612 shares of the iPhone maker's stock, valued at approximately $3,467,000. Apple accounts for approximately 2.5% of Cloud Capital Management LLC's investment portfolio, making the stock its 9th largest holding.

A number of other large investors also recently modified their holdings of the business. Advanced Portfolio Management LLC boosted its holdings in Apple by 0.3% in the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock valued at $3,260,000 after purchasing an additional 47 shares during the period. Salus Financial Advisors LLC lifted its stake in shares of Apple by 3.9% in the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker's stock valued at $291,000 after buying an additional 49 shares during the period. Disciplined Investments LLC lifted its stake in shares of Apple by 0.7% in the fourth quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker's stock valued at $1,794,000 after buying an additional 51 shares during the period. Redwood Financial Network Corp grew its position in Apple by 0.6% during the fourth quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker's stock worth $2,184,000 after buying an additional 53 shares in the last quarter. Finally, Mission Hills Financial Advisory LLC increased its stake in Apple by 1.3% during the first quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker's stock valued at $892,000 after acquiring an additional 53 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Apple Price Performance

Apple stock traded up $2.86 during trading hours on Friday, hitting $227.76. 42,431,176 shares of the stock were exchanged, compared to its average volume of 61,854,304. The stock has a market capitalization of $3.38 trillion, a P/E ratio of 34.56, a P/E/G ratio of 2.38 and a beta of 1.16. The business's 50-day moving average is $212.52 and its two-hundred day moving average is $212.96. 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 Inc. has a 12 month low of $169.21 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same quarter in the previous year, the firm earned $1.40 earnings per share. The business's revenue was up 9.6% on a year-over-year basis. Equities research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple declared that its board has authorized a stock repurchase program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, August 11th. Apple's dividend payout ratio (DPR) is presently 15.78%.

Insider Buying and Selling at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the transaction, the senior vice president directly owned 136,687 shares in the company, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.06% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on AAPL shares. Monness Crespi & Hardt lifted their price objective on Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Bank of America raised their target price on Apple from $240.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Evercore ISI reissued an "outperform" rating and issued a $250.00 price target on shares of Apple in a report on Wednesday, August 13th. UBS Group raised their price objective on shares of Apple from $210.00 to $220.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Finally, Barclays lifted their target price on shares of Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a research report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $237.98.

Apple Company 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.