Apple Inc. $AAPL Shares Purchased by Detalus Advisors LLC

Detalus Advisors LLC increased its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 14.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,916 shares of the iPhone maker's stock after acquiring an additional 2,989 shares during the period. Apple makes up about 1.7% of Detalus Advisors LLC's holdings, making the stock its 12th largest holding. Detalus Advisors LLC's holdings in Apple were worth $5,313,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Arbor Capital Management Inc. ADV raised its stake in shares of Apple by 14.8% in the first quarter. Arbor Capital Management Inc. ADV now owns 10,974 shares of the iPhone maker's stock valued at $2,454,000 after acquiring an additional 1,413 shares in the last quarter. Yukon Wealth Management Inc. acquired a new stake in shares of Apple in the first quarter valued at $20,983,000. Svenska Handelsbanken AB publ acquired a new stake in shares of Apple in the first quarter valued at $27,258,000. Red Lighthouse Investment Management LLC raised its stake in shares of Apple by 5.8% in the first quarter. Red Lighthouse Investment Management LLC now owns 93,531 shares of the iPhone maker's stock valued at $20,776,000 after acquiring an additional 5,086 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Apple by 3.2% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 2,146,030 shares of the iPhone maker's stock valued at $476,698,000 after acquiring an additional 66,935 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AAPL shares. China Renaissance started coverage on Apple in a research note on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 price target on the stock. Monness Crespi & Hardt raised their price target on Apple from $245.00 to $270.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Citigroup raised their price target on Apple from $240.00 to $245.00 and gave the company a "buy" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. raised 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, DA Davidson restated a "buy" rating and issued a $250.00 price target on shares of Apple in a research note on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $237.60.

Insider Transactions at Apple

In related news, SVP Deirdre O'brien sold 34,821 shares of the business's stock in a transaction dated 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 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 position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.06% of the stock is owned by company insiders.

Apple Stock Performance

Shares of AAPL stock traded down $4.2250 during mid-day trading on Wednesday, hitting $226.3350. 21,412,486 shares of the stock were exchanged, compared to its average volume of 57,531,371. The stock's fifty day simple moving average is $210.83 and its two-hundred day simple moving average is $213.06. The stock has a market capitalization of $3.36 trillion, a price-to-earnings ratio of 34.35, a P/E/G ratio of 2.42 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 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 issued its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.14. The company had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business's quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.40 earnings per share. On average, analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, August 11th. Apple's payout ratio is 15.78%.

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

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.