Elevated Capital Advisors LLC lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,655 shares of the iPhone maker's stock after buying an additional 1,297 shares during the quarter. Apple comprises 3.1% of Elevated Capital Advisors LLC's investment portfolio, making the stock its 2nd biggest position. Elevated Capital Advisors LLC's holdings in Apple were worth $11,030,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Apple by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock valued at $349,532,608,000 after buying an additional 49,168,843 shares in the last quarter. Geode Capital Management LLC raised its position in Apple by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker's stock worth $84,999,145,000 after purchasing an additional 6,307,413 shares during the period. Norges Bank purchased a new position in Apple in the 4th quarter worth $46,868,648,000. Northern Trust Corp raised its position in Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $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 raised its position in 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 worth $26,220,566,000 after purchasing an additional 13,137,968 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.
Apple Stock Performance
Shares of AAPL traded up $3.95 during mid-day trading on Wednesday, hitting $233.60. 55,591,683 shares of the company traded hands, compared to its average volume of 57,968,047. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The stock has a market cap of $3.47 trillion, a price-to-earnings ratio of 35.51, a P/E/G ratio of 2.38 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. The stock has a 50-day moving average price of $207.88 and a two-hundred day moving average price of $213.21.
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, beating analysts' consensus estimates of $1.43 by $0.14. The firm had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.40 EPS. Equities analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.
Apple Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Monday, August 11th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, August 11th. Apple's dividend payout ratio is 15.78%.
Apple announced that its Board of Directors has initiated a share buyback program on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its stock is undervalued.
Analyst Ratings Changes
A number of equities analysts recently commented on AAPL shares. Morgan Stanley lifted their target price on shares of Apple from $235.00 to $240.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Raymond James Financial reiterated an "outperform" rating and issued a $240.00 target price (up previously from $230.00) on shares of Apple in a research report on Friday, August 1st. Rosenblatt Securities reiterated a "neutral" rating and issued a $217.00 target price on shares of Apple in a research report on Tuesday, July 29th. TD Cowen decreased their target price on shares of Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Finally, Loop Capital decreased their target price on shares of Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $237.60.
Get Our Latest Stock Analysis on AAPL
Insider Activity at Apple
In other news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction 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 completion of the sale, the senior vice president directly owned 136,687 shares in the company, valued at $30,508,538.40. This represents a 20.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.06% of the stock is owned by company insiders.
Apple Company Profile
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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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