Continuum Advisory LLC Buys 6,439 Shares of Apple Inc. (NASDAQ:AAPL)

Key Points

• Continuum Advisory LLC increased its stake in Apple Inc. by 5.1%, acquiring an additional 6,439 shares, bringing its total holdings to 132,387 shares, valued at $29.4 million.
• Apple's recent quarterly earnings report revealed a $1.57 earnings per share, exceeding analysts' estimates of $1.43, and the company reported revenue of $94.04 billion.
• JPMorgan Chase & Co. raised its price target on Apple stock from $250 to $255 and maintained an "overweight" rating, while other analysts have also positively adjusted their ratings.

Continuum Advisory LLC boosted its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 5.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 132,387 shares of the iPhone maker's stock after acquiring an additional 6,439 shares during the period. Apple accounts for about 3.8% of Continuum Advisory LLC's holdings, making the stock its 2nd biggest position. Continuum Advisory LLC's holdings in Apple were worth $29,407,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. Advanced Portfolio Management LLC lifted its holdings in shares of 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 purchasing an additional 47 shares during the period. Family Capital Management Inc. increased its position in shares of Apple by 0.3% during the fourth quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock worth $4,235,000 after purchasing an additional 48 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its position 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 in the last quarter. Scarborough Advisors LLC grew its holdings in Apple by 0.3% in the 4th quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker's stock valued at $3,992,000 after buying an additional 51 shares in the last quarter. Finally, Disciplined Investments LLC grew its holdings in shares of Apple by 0.7% during the 4th quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker's stock worth $1,794,000 after purchasing an additional 51 shares during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on AAPL. Bank of America raised their target price on Apple from $235.00 to $240.00 and gave the company a "buy" rating in a report on Friday. China Renaissance initiated coverage on Apple in a research note on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 target price on the stock. KeyCorp upgraded Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. Citigroup boosted their price target on Apple from $240.00 to $245.00 and gave the stock a "buy" rating in a report on Friday. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research note on Friday, July 25th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Apple currently has a consensus rating of "Moderate Buy" and an average target price of $237.25.

Apple Trading Up 0.5%

AAPL traded up $0.97 during trading on Monday, reaching $203.35. 74,983,799 shares of the company's stock were exchanged, compared to its average volume of 57,129,035. 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 fifty-two week low of $169.21 and a fifty-two week high of $260.10. The company's fifty day moving average price is $205.37 and its 200-day moving average price is $213.50. The firm has a market capitalization of $3.04 trillion, a PE ratio of 30.86, a P/E/G ratio of 2.20 and a beta of 1.16.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $88.64 billion. During the same period in the prior year, the business earned $1.40 EPS. The company's revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, equities analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, August 11th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, August 11th. Apple's dividend payout ratio (DPR) is 15.78%.

Apple declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Transactions at Apple

In other Apple news, insider Chris Kondo sold 4,486 shares of the stock in a transaction dated 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 directly 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 Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.06% of the company's stock.

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.