Golden Reserve Retirement LLC Invests $828,000 in Apple Inc. $AAPL

Key Points

• Golden Reserve Retirement LLC invested approximately $828,000 in Apple Inc. by purchasing 3,707 shares, making Apple its 7th largest holding.
• Several analysts have raised their price targets for Apple, with projections ranging from $220.00 to $250.00, and the company received a consensus rating of "Moderate Buy."
• Apple's recent quarterly earnings exceeded expectations, reporting $1.57 EPS and $94.04 billion in revenue, marking a 9.6% year-over-year increase.

Golden Reserve Retirement LLC bought a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,707 shares of the iPhone maker's stock, valued at approximately $828,000. Apple comprises approximately 0.3% of Golden Reserve Retirement LLC's portfolio, making the stock its 7th biggest holding.

A number of other institutional investors have also recently added to or reduced their stakes in AAPL. Norges Bank acquired a new stake in Apple in the fourth quarter valued at approximately $46,868,648,000. GAMMA Investing LLC raised its position in shares of Apple by 25,934.1% in the first quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker's stock valued at $133,425,490,000 after purchasing an additional 59,835,676 shares during the period. Vanguard Group Inc. raised its position in shares of Apple by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock valued at $349,532,608,000 after purchasing an additional 49,168,843 shares during the period. Proficio Capital Partners LLC raised its position in shares of Apple by 23,555.4% in the fourth quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock valued at $5,272,653,000 after purchasing an additional 20,966,232 shares during the period. Finally, Northern Trust Corp raised its position in shares of Apple by 13.3% in the fourth 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. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AAPL shares. Barclays lifted their price target on shares of Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a research report on Friday, August 1st. Morgan Stanley set a $240.00 price target on shares of Apple and gave the company an "overweight" rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of Apple from $250.00 to $255.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Rosenblatt Securities reissued a "neutral" rating and issued a $217.00 price target on shares of Apple in a research report on Tuesday, July 29th. Finally, DA Davidson reissued a "buy" rating and issued a $250.00 price target on shares of Apple in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $239.05.

Apple Stock Performance

AAPL stock traded down $0.09 on Friday, reaching $239.69. 54,829,143 shares of the company were exchanged, compared to its average volume of 47,688,568. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The stock's fifty day moving average price is $219.28 and its 200 day moving average price is $212.64. The firm has a market capitalization of $3.56 trillion, a PE ratio of 36.37, a PEG ratio of 2.50 and a beta of 1.11. 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 (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. The business had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. Apple's revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.40 earnings per share. On average, research analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

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

Insider Transactions at Apple

In other Apple 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 sale, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.06% of the stock is owned by company insiders.

Apple Profile

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.