Consolidated Portfolio Review Corp Acquires 14,034 Shares of Apple Inc. (NASDAQ:AAPL)

Key Points

• Consolidated Portfolio Review Corp has increased its stake in Apple Inc. by 7.5%, now holding 202,225 shares valued at approximately $44.9 million, making it the company's largest holding.
• Apple reported a strong quarterly earnings result, with $1.57 EPS exceeding expectations and revenues of $94.04 billion, reflecting a 9.6% year-over-year growth.
• The company has authorized a significant $100 billion stock buyback program to purchase up to 3.1% of its shares, signaling confidence in its market value.

Consolidated Portfolio Review Corp grew its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 7.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 202,225 shares of the iPhone maker's stock after purchasing an additional 14,034 shares during the period. Apple makes up 7.2% of Consolidated Portfolio Review Corp's investment portfolio, making the stock its largest position. Consolidated Portfolio Review Corp's holdings in Apple were worth $44,920,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Life Planning Partners Inc purchased a new stake in shares of Apple in the fourth quarter valued at $47,000. Conquis Financial LLC purchased a new position in Apple in the fourth quarter valued at about $63,000. LSV Asset Management acquired a new stake in Apple during the fourth quarter valued at approximately $65,000. Pillar Financial Advisors LLC acquired a new stake in Apple during the fourth quarter valued at approximately $82,000. Finally, Compass Planning Associates Inc acquired a new stake in shares of Apple during the 4th quarter worth approximately $96,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Stock Performance

AAPL stock traded up $0.79 on Tuesday, hitting $204.14. The company's stock had a trading volume of 7,744,827 shares, compared to its average volume of 56,777,820. The firm has a 50 day moving average of $205.53 and a two-hundred day moving average of $213.31. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The stock has a market cap of $3.05 trillion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 2.20 and a beta of 1.17. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25.

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

Apple announced that its board has authorized a stock repurchase plan on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Monday, August 11th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Monday, August 11th. Apple's payout ratio is 15.78%.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction on Monday, May 12th. The shares were 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 of the company's stock, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AAPL shares. Loop Capital decreased their price target on Apple from $230.00 to $215.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. KeyCorp raised shares of Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. Wedbush reaffirmed an "outperform" rating and issued a $270.00 price target on shares of Apple in a research report on Wednesday, July 30th. JPMorgan Chase & Co. lifted their target price on Apple from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research note on Friday, July 25th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $237.25.

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.