Apple Inc. $AAPL is Manchester Capital Management LLC's 2nd Largest Position

Key Points

• Manchester Capital Management LLC has increased its stake in Apple Inc. to approximately $57.62 million, representing 7.1% of its total portfolio after acquiring 1,313 additional shares.
• Apple reported earnings of $1.57 per share for the last quarter, surpassing analysts' expectations, with revenues reaching $94.04 billion, a 9.6% increase compared to the previous year.
• The company declared a quarterly dividend of $0.26, with an annualized sum of $1.04 and a dividend yield of 0.4% as part of its ongoing shareholder returns.

Manchester Capital Management LLC grew its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 0.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 259,381 shares of the iPhone maker's stock after purchasing an additional 1,313 shares during the quarter. Apple accounts for about 7.1% of Manchester Capital Management LLC's holdings, making the stock its 2nd biggest holding. Manchester Capital Management LLC's holdings in Apple were worth $57,616,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Delta Financial Group Inc. increased its position in shares of Apple by 3.4% in the 1st quarter. Delta Financial Group Inc. now owns 459,850 shares of the iPhone maker's stock valued at $101,503,000 after purchasing an additional 14,917 shares during the last quarter. Novus Advisors LLC increased its stake in shares of Apple by 1.5% in the first quarter. Novus Advisors LLC now owns 7,827 shares of the iPhone maker's stock worth $1,739,000 after buying an additional 114 shares during the last quarter. Cedar Wealth Management LLC boosted its stake in Apple by 5.7% in the first quarter. Cedar Wealth Management LLC now owns 7,130 shares of the iPhone maker's stock valued at $1,584,000 after acquiring an additional 385 shares during the period. Quantum Financial Planning Services Inc. raised its stake in shares of Apple by 20.5% during the first quarter. Quantum Financial Planning Services Inc. now owns 8,086 shares of the iPhone maker's stock valued at $1,796,000 after purchasing an additional 1,375 shares in the last quarter. Finally, Liberty Wealth Management LLC grew its position in Apple by 1,993.5% in the first quarter. Liberty Wealth Management LLC now owns 2,443,279 shares of the iPhone maker's stock worth $542,726,000 after buying an additional 2,326,570 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Apple

In related news, SVP Deirdre O'brien sold 34,821 shares of the firm'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 completion of the transaction, the senior vice president directly owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AAPL has been the topic of several research reports. Wedbush reaffirmed an "outperform" rating and set a $270.00 price target on shares of Apple in a research note on Wednesday, September 3rd. HSBC set a $220.00 price target on Apple and gave the company a "hold" rating in a research note on Monday. Morgan Stanley set a $240.00 target price on Apple and gave the stock an "overweight" rating in a research note on Wednesday, September 3rd. BMO Capital Markets restated a "buy" rating on shares of Apple in a research report on Wednesday, August 13th. Finally, JPMorgan Chase & Co. boosted 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. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Apple has a consensus rating of "Moderate Buy" and a consensus target price of $238.99.

Apple Price Performance

NASDAQ:AAPL traded down $1.86 during trading hours on Monday, reaching $237.83. 26,928,241 shares of the company traded hands, compared to its average volume of 56,577,613. 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 Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The firm's 50-day moving average is $219.28 and its 200-day moving average is $212.40. The stock has a market cap of $3.53 trillion, a P/E ratio of 36.07, a P/E/G ratio of 2.50 and a beta of 1.11.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. During the same period in the previous year, the firm earned $1.40 EPS. Apple's revenue was up 9.6% on a year-over-year basis. Equities research analysts expect that Apple Inc. will post 7.28 earnings per share 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 dividend yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's dividend payout ratio is 15.78%.

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.