Dakota Wealth Management Has $148.39 Million Stock Holdings in Apple Inc. $AAPL

Key Points

• Dakota Wealth Management reduced its stake in Apple Inc. by 0.3% in Q1, holding 668,030 shares valued at approximately $148.39 million, making up 3.5% of the firm's portfolio.
• Research analysts have mixed ratings on Apple, with two strong buy ratings, fifteen buy ratings, and a consensus price target of $237.37.
• Apple reported a 9.6% year-over-year revenue increase to $94.04 billion for the last quarter, surpassing analysts' expectations, and also recently declared a quarterly dividend of $0.26 per share.

Dakota Wealth Management reduced its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 0.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 668,030 shares of the iPhone maker's stock after selling 1,937 shares during the period. Apple makes up about 3.5% of Dakota Wealth Management's portfolio, making the stock its 4th biggest holding. Dakota Wealth Management's holdings in Apple were worth $148,390,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Conquis Financial LLC acquired a new position in Apple in the 4th quarter valued at $63,000. LSV Asset Management acquired a new position in Apple in the 4th quarter valued at $65,000. Elite Financial Inc. acquired a new position in Apple in the 1st quarter valued at $58,000. Pillar Financial Advisors LLC acquired a new position in Apple in the 4th quarter valued at $82,000. Finally, Sellwood Investment Partners LLC bought a new position in Apple in the fourth quarter valued at about $147,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on AAPL shares. The Goldman Sachs Group reiterated a "buy" rating and issued a $266.00 target price on shares of Apple in a research report on Tuesday. Monness Crespi & Hardt lifted their price objective on Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Scotiabank lowered Apple to a "market perform" rating in a research note on Friday, May 2nd. JPMorgan Chase & Co. boosted their price target on Apple from $250.00 to $255.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Loop Capital decreased their price objective on Apple from $230.00 to $226.00 and set a "hold" rating for the company in a report on Thursday, August 21st. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Apple currently has a consensus rating of "Moderate Buy" and a consensus price target of $237.37.

Insider Buying and Selling

In related news, SVP Deirdre O'brien sold 34,821 shares of the business'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 completion of the transaction, the senior vice president owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.06% of the company's stock.

Apple Price Performance

AAPL stock opened at $232.14 on Friday. The firm has a 50 day moving average of $215.79 and a 200-day moving average of $213.08. The firm has a market capitalization of $3.45 trillion, a P/E ratio of 35.23, a price-to-earnings-growth ratio of 2.43 and a beta of 1.16. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. 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 the consensus estimate of $1.43 by $0.14. The company had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. Apple's revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.40 earnings per share. As a group, sell-side analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple's payout ratio is currently 15.78%.

About Apple

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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