CORDA Investment Management LLC. lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 189,471 shares of the iPhone maker's stock after selling 4,206 shares during the period. Apple accounts for about 3.3% of CORDA Investment Management LLC.'s portfolio, making the stock its 7th largest position. CORDA Investment Management LLC.'s holdings in Apple were worth $42,087,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Burkett Financial Services LLC grew its holdings in shares of Apple by 0.6% during the first quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock worth $3,199,000 after purchasing an additional 93 shares during the last quarter. Avid Wealth Partners LLC grew its holdings in shares of Apple by 28.3% during the first quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker's stock worth $935,000 after purchasing an additional 930 shares during the last quarter. OneAscent Wealth Management LLC grew its holdings in shares of Apple by 4.6% during the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock worth $2,337,000 after purchasing an additional 409 shares during the last quarter. TruWealth Advisors LLC grew its holdings in shares of Apple by 2.8% during the first quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker's stock worth $42,045,000 after purchasing an additional 5,120 shares during the last quarter. Finally, Allstate Corp boosted its holdings in Apple by 3,368.2% in the fourth quarter. Allstate Corp now owns 451,489 shares of the iPhone maker's stock valued at $113,062,000 after acquiring an additional 438,471 shares during the last quarter. Institutional investors own 67.73% of the company's stock.
Insider Transactions at Apple
In related news, SVP Deirdre O'brien sold 34,821 shares of Apple stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the sale, the senior vice president owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company's stock.
Analyst Upgrades and Downgrades
AAPL has been the topic of several recent research reports. Wedbush reiterated an "outperform" rating and issued a $270.00 price target on shares of Apple in a report on Thursday, August 7th. TD Cowen cut their target price on Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. The Goldman Sachs Group reissued a "buy" rating on shares of Apple in a research note on Wednesday, May 21st. Loop Capital cut their target price on Apple from $230.00 to $226.00 and set a "hold" rating on the stock in a research note on Thursday, August 21st. Finally, Evercore ISI reissued an "outperform" rating and issued a $250.00 target price on shares of Apple in a research note on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $237.01.
View Our Latest Research Report on Apple
Apple Stock Up 0.9%
Shares of Apple stock opened at $229.31 on Wednesday. The business's 50 day simple moving average is $213.77 and its 200 day simple moving average is $212.93. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The firm has a market cap of $3.40 trillion, a PE ratio of 34.80, a P/E/G ratio of 2.37 and a beta of 1.16. 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 (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating 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 business had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same quarter last year, the firm earned $1.40 EPS. Apple's revenue for the quarter was up 9.6% compared to the same quarter last year. On average, analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple announced that its Board of Directors has initiated a share buyback 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 buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.
Apple Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Monday, August 11th. Apple's dividend payout ratio (DPR) is currently 15.78%.
Apple Company Profile
(
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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