Apple Inc. (NASDAQ:AAPL) Position Raised by Heirloom Wealth Management

Heirloom Wealth Management lifted its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.6% 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 45,416 shares of the iPhone maker's stock after buying an additional 1,575 shares during the period. Apple makes up 2.9% of Heirloom Wealth Management's holdings, making the stock its 13th biggest position. Heirloom Wealth Management's holdings in Apple were worth $10,088,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Advanced Portfolio Management LLC increased its stake in Apple by 0.3% in the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock valued at $3,260,000 after buying an additional 47 shares during the period. Family Capital Management Inc. increased its stake in Apple by 0.3% in the 4th quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock valued at $4,235,000 after buying an additional 48 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in Apple by 0.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock valued at $4,178,000 after buying an additional 48 shares during the period. Scarborough Advisors LLC grew its stake in shares of Apple by 0.3% during the 4th quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker's stock worth $3,992,000 after purchasing an additional 51 shares during the period. Finally, Disciplined Investments LLC grew its stake in shares of Apple by 0.7% during the 4th quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker's stock worth $1,794,000 after purchasing an additional 51 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Bank of America increased their price objective on shares of Apple from $240.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Needham & Company LLC reissued a "hold" rating on shares of Apple in a research note on Friday, July 25th. Raymond James Financial reissued an "outperform" rating and issued a $240.00 price objective (up from $230.00) on shares of Apple in a research note on Friday, August 1st. Rosenblatt Securities reissued a "neutral" rating and issued a $217.00 price objective on shares of Apple in a research note on Tuesday, July 29th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Apple in a report on Wednesday, May 21st. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $237.60.

Apple Stock Down 0.2%

Shares of AAPL stock traded down $0.42 during mid-day trading on Thursday, reaching $232.91. 37,584,287 shares of the company were exchanged, compared to its average volume of 57,933,523. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week 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. The company has a market capitalization of $3.46 trillion, a P/E ratio of 35.33, a P/E/G ratio of 2.40 and a beta of 1.16. The business's 50 day simple moving average is $208.49 and its 200 day simple moving average is $213.35.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. The business 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 business's quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.40 earnings per share. Research analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

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

Apple declared that its board has approved a share repurchase program on Thursday, May 1st that allows the company to repurchase $100.00 billion in shares. This repurchase authorization allows the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of Apple 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 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 transaction was disclosed in a document filed with the SEC, which is available through this link. 0.06% of the stock is currently owned by corporate 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.