Gibraltar Capital Management Inc. raised its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 11.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 74,515 shares of the iPhone maker's stock after acquiring an additional 7,383 shares during the period. Apple comprises about 3.6% of Gibraltar Capital Management Inc.'s investment portfolio, making the stock its 3rd largest position. Gibraltar Capital Management Inc.'s holdings in Apple were worth $16,552,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Tallon Kerry Patrick bought a new position in Apple in the fourth quarter valued at approximately $1,877,000. First National Bank of Hutchinson raised its holdings in Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after acquiring an additional 6,982 shares in the last quarter. Capital & Planning LLC raised its holdings in Apple by 10.7% in the 4th quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker's stock valued at $6,836,000 after acquiring an additional 2,647 shares in the last quarter. Eagle Capital Management LLC raised its holdings in Apple by 0.5% in the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock valued at $13,544,000 after acquiring an additional 272 shares in the last quarter. Finally, Brighton Jones LLC raised its holdings in shares of Apple by 14.8% during the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock worth $134,554,000 after buying an additional 69,207 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.
Apple Stock Up 1.1%
NASDAQ AAPL traded up $2.50 during mid-day trading on Thursday, reaching $232.99. The stock had a trading volume of 20,569,050 shares, compared to its average volume of 56,837,367. 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 1 year low of $169.21 and a 1 year high of $260.10. The stock has a market cap of $3.46 trillion, a PE ratio of 35.37, a price-to-earnings-growth ratio of 2.39 and a beta of 1.16. The company has a fifty day moving average price of $214.45 and a 200 day moving average price of $213.05.
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. On average, research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.
Apple Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple's dividend payout ratio (DPR) is 15.78%.
Apple declared that its board has authorized a share repurchase program 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 stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on AAPL shares. The Goldman Sachs Group restated a "buy" rating and set a $266.00 price objective on shares of Apple in a research report on Tuesday. Evercore ISI reaffirmed an "outperform" rating and set a $250.00 price target on shares of Apple in a research note on Wednesday, August 13th. Morgan Stanley upped their price target on Apple from $235.00 to $240.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Scotiabank downgraded Apple to a "market perform" rating in a research note on Friday, May 2nd. Finally, UBS Group upped their target price on Apple from $210.00 to $220.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $237.37.
Check Out Our Latest Stock Analysis on Apple
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 value 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 $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.06% of the stock is owned by company insiders.
About Apple
(
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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