Jag Capital Management LLC Purchases 2,190 Shares of Apple Inc. (NASDAQ:AAPL)

Jag Capital Management LLC increased its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 240,061 shares of the iPhone maker's stock after purchasing an additional 2,190 shares during the quarter. Apple comprises about 7.1% of Jag Capital Management LLC's holdings, making the stock its largest position. Jag Capital Management LLC's holdings in Apple were worth $53,325,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Life Planning Partners Inc purchased a new position in Apple during the fourth quarter worth about $47,000. Conquis Financial LLC bought a new stake in Apple during the fourth quarter worth about $63,000. LSV Asset Management bought a new stake in Apple during the fourth quarter worth about $65,000. Pillar Financial Advisors LLC bought a new stake in Apple during the fourth quarter worth about $82,000. Finally, Compass Planning Associates Inc bought a new stake in Apple during the fourth quarter worth about $96,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Barclays lifted their price target on Apple from $173.00 to $180.00 and gave the stock an "underweight" rating in a research note on Friday, August 1st. Wedbush reissued an "outperform" rating and set a $270.00 price objective on shares of Apple in a research note on Thursday, August 7th. Jefferies Financial Group upgraded shares of Apple from an "underperform" rating to a "hold" rating in a report on Friday, July 18th. Citigroup boosted their price objective on shares of Apple from $240.00 to $245.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, Loop Capital reduced their price target on Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a report on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $237.60.

Apple Trading Down 0.5%

Shares of NASDAQ:AAPL traded down $1.16 during trading hours on Thursday, hitting $232.17. 26,886,272 shares of the company's stock traded hands, compared to its average volume of 57,862,945. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The business has a fifty day moving average price of $208.49 and a 200-day moving average price of $213.35. The firm has a market capitalization of $3.45 trillion, a P/E ratio of 35.23, a price-to-earnings-growth ratio of 2.40 and a beta of 1.16. 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 posted its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same quarter in the previous year, the firm posted $1.40 earnings per share. The company's revenue was up 9.6% on a year-over-year basis. Equities analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Monday, August 11th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend 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 of Directors has initiated 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 shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of Apple stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the sale, the senior vice president owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.06% of the company's stock.

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.