Denver PWM LLC Has $2.39 Million Holdings in Apple Inc. $AAPL

Key Points

• Denver PWM LLC increased its Apple Inc. holdings by 202.1% in Q1, now owning 10,754 shares worth approximately $2.39 million.
• Apple's recent earnings report showed $1.57 earnings per share, surpassing the consensus estimate, with a revenue of $94.04 billion, up 9.6% year-over-year.
• The company just announced a quarterly dividend of $0.26, representing an annualized yield of 0.4% and a payout ratio of 15.78%.

Denver PWM LLC grew its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 202.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,754 shares of the iPhone maker's stock after purchasing an additional 7,194 shares during the period. Apple makes up approximately 0.9% of Denver PWM LLC's holdings, making the stock its 21st largest holding. Denver PWM LLC's holdings in Apple were worth $2,389,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Apple by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock worth $349,532,608,000 after buying an additional 49,168,843 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Apple by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker's stock valued at $84,999,145,000 after purchasing an additional 6,307,413 shares during the period. Norges Bank acquired a new position in shares of Apple in the 4th quarter valued at $46,868,648,000. Northern Trust Corp lifted its stake in shares of Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after purchasing an additional 20,079,472 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Apple by 14.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker's stock valued at $26,220,566,000 after purchasing an additional 13,137,968 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Apple

In related news, SVP Deirdre O'brien sold 34,821 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the transaction, the senior vice president owned 136,687 shares in the company, valued at $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AAPL. Wedbush restated an "outperform" rating and issued a $270.00 price objective on shares of Apple in a research report on Wednesday. UBS Group lifted their price target on Apple from $210.00 to $220.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Barclays raised their price objective on shares of Apple from $173.00 to $180.00 and gave the stock an "underweight" rating in a research report on Friday, August 1st. Bank of America lifted their price target on shares of Apple from $250.00 to $260.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Morgan Stanley set a $240.00 price objective on shares of Apple and gave the company an "overweight" rating in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Apple presently has a consensus rating of "Moderate Buy" and an average price target of $239.05.

Apple Trading Down 0.0%

Shares of Apple stock traded down $0.09 during trading on Friday, hitting $239.69. The company's stock had a trading volume of 54,829,143 shares, compared to its average volume of 47,688,568. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The stock has a market cap of $3.56 trillion, a price-to-earnings ratio of 36.37, a price-to-earnings-growth ratio of 2.50 and a beta of 1.11. The stock has a 50-day moving average price of $219.28 and a two-hundred day moving average price of $212.86.

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

Apple Dividend Announcement

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