Inscription Capital LLC Invests $31.31 Million in Apple Inc. (NASDAQ:AAPL)

Inscription Capital LLC acquired a new stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 140,950 shares of the iPhone maker's stock, valued at approximately $31,309,000. Apple makes up approximately 5.1% of Inscription Capital LLC's investment portfolio, making the stock its 3rd biggest holding.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Drystone LLC purchased a new position in shares of Apple in the fourth quarter worth about $25,000. Life Planning Partners Inc purchased a new position in shares of Apple in the fourth quarter worth about $47,000. Conquis Financial LLC purchased a new position in shares of Apple in the fourth quarter worth about $63,000. LSV Asset Management purchased a new position in shares of Apple in the fourth quarter worth about $65,000. Finally, Pillar Financial Advisors LLC purchased a new position in shares of Apple in the fourth quarter worth about $82,000. Institutional investors own 67.73% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. The Goldman Sachs Group reissued a "buy" rating on shares of Apple in a report on Wednesday, May 21st. Evercore ISI increased their price target on shares of Apple to $250.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Wedbush reissued an "outperform" rating and set a $270.00 price target on shares of Apple in a report on Wednesday, July 9th. Monness Crespi & Hardt increased their price target on shares of Apple to $245.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Finally, TD Cowen dropped their price objective on Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Apple currently has a consensus rating of "Moderate Buy" and an average price target of $234.94.

Insiders Place Their Bets

In related news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the transaction, the insider owned 15,533 shares in the company, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.06% of the company's stock.

Apple Price Performance

Apple stock traded up $0.12 during mid-day trading on Friday, hitting $213.88. 38,805,177 shares of the company were exchanged, compared to its average volume of 49,464,392. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. The business's 50 day simple moving average is $204.77 and its two-hundred day simple moving average is $214.58. The company has a market capitalization of $3.19 trillion, a P/E ratio of 33.31, a PEG ratio of 2.39 and a beta of 1.20. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.03. Apple had a return on equity of 167.24% and a net margin of 24.30%. The business had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. During the same quarter last year, the firm earned $1.53 earnings per share. The business's revenue was up 5.1% on a year-over-year basis. Analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a $0.26 dividend. The ex-dividend date was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.49%. This is a boost from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio (DPR) is presently 16.20%.

Apple declared that its Board of Directors has approved a share buyback program on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

Apple Company 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.