CWA Asset Management Group LLC Grows Stake in Apple Inc. (NASDAQ:AAPL)

CWA Asset Management Group LLC boosted its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 534,291 shares of the iPhone maker's stock after buying an additional 9,825 shares during the quarter. Apple makes up 5.7% of CWA Asset Management Group LLC's investment portfolio, making the stock its largest holding. CWA Asset Management Group LLC's holdings in Apple were worth $118,682,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Life Planning Partners Inc purchased a new stake in shares of Apple during the 4th quarter valued at $47,000. Conquis Financial LLC purchased a new stake in shares of Apple during the 4th quarter valued at $63,000. LSV Asset Management purchased a new stake in shares of Apple during the 4th quarter valued at $65,000. Pillar Financial Advisors LLC purchased a new stake in shares of Apple during the 4th quarter valued at $82,000. Finally, Compass Planning Associates Inc purchased a new stake in shares of Apple during the 4th quarter valued at $96,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Price Performance

NASDAQ AAPL traded up $0.17 during trading hours on Monday, hitting $214.05. The company had a trading volume of 37,786,671 shares, compared to its average volume of 47,818,408. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The firm has a 50 day simple moving average of $204.87 and a 200 day simple moving average of $214.22. 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 capitalization of $3.20 trillion, a price-to-earnings ratio of 33.34, a PEG ratio of 2.39 and a beta of 1.20.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping the consensus estimate of $1.62 by $0.03. The business had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. The firm's revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.53 EPS. Equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

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

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were given a $0.26 dividend. This is an increase from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.49%. Apple's payout ratio is presently 16.20%.

Insiders Place Their Bets

In related news, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the sale, the insider directly owned 15,533 shares in the company, valued at $3,233,815.27. This represents a 22.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AAPL. JPMorgan Chase & Co. raised their target price on Apple from $230.00 to $250.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Citigroup reaffirmed a "buy" rating on shares of Apple in a research report on Tuesday, June 10th. Bank of America reaffirmed a "buy" rating and set a $235.00 target price on shares of Apple in a research report on Tuesday, June 10th. UBS Group reiterated a "hold" rating on shares of Apple in a research note on Friday, July 18th. Finally, DA Davidson increased their price target on Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $234.94.

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.