Investment Advisory Services Inc. TX ADV lowered its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 11.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,340 shares of the iPhone maker's stock after selling 5,942 shares during the quarter. Apple makes up approximately 3.8% of Investment Advisory Services Inc. TX ADV's investment portfolio, making the stock its 7th largest position. Investment Advisory Services Inc. TX ADV's holdings in Apple were worth $10,516,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in AAPL. Norges Bank bought a new position in Apple in the 4th quarter valued at approximately $46,868,648,000. GAMMA Investing LLC raised its holdings in Apple by 25,934.1% in the 1st quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker's stock valued at $133,425,490,000 after buying an additional 59,835,676 shares during the last quarter. Vanguard Group Inc. raised its holdings in Apple by 3.7% in 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 during the last quarter. Proficio Capital Partners LLC raised its holdings in Apple by 23,555.4% in the 4th quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock valued at $5,272,653,000 after buying an additional 20,966,232 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after buying an additional 20,079,472 shares during the last quarter. Institutional investors own 67.73% of the company's stock.
Insider Buying and Selling at Apple
In related news, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the transaction, the insider directly owned 15,533 shares of the company's stock, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.06% of the company's stock.
Analyst Ratings Changes
A number of research analysts recently issued reports on AAPL shares. Wedbush reiterated an "outperform" rating and issued a $270.00 price objective on shares of Apple in a report on Thursday. JPMorgan Chase & Co. upped their price objective on shares of Apple from $250.00 to $255.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. The Goldman Sachs Group reissued a "buy" rating on shares of Apple in a research note on Wednesday, May 21st. Rosenblatt Securities reissued a "neutral" rating and set a $217.00 target price on shares of Apple in a research note on Tuesday, July 29th. Finally, Raymond James Financial reissued an "outperform" rating and set a $240.00 target price (up previously from $230.00) on shares of Apple in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Apple has a consensus rating of "Moderate Buy" and a consensus target price of $237.60.
Read Our Latest Stock Analysis on Apple
Apple Stock Performance
NASDAQ AAPL opened at $229.35 on Friday. The company has a fifty day simple moving average of $206.84 and a 200 day simple moving average of $213.21. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The company has a market cap of $3.40 trillion, a P/E ratio of 34.80, a PEG ratio of 2.30 and a beta of 1.16.
Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $94.04 billion for 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 revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.40 EPS. Sell-side analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple announced that its Board of Directors has initiated a share buyback plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its stock is undervalued.
Apple Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors 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 dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, August 11th. Apple's payout ratio is 15.78%.
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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