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Apple Inc. $AAPL Stock Holdings Decreased by Meritage Portfolio Management

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Key Points

  • Meritage Portfolio Management decreased its stake in Apple Inc. by 1.9%, selling 8,097 shares and now holds 427,833 shares, worth approximately $95 million.
  • Apple's quarterly earnings showed a positive trend with $1.57 earnings per share, surpassing estimates, and a 9.6% year-over-year revenue increase to $94.04 billion.
  • The company announced a $100 billion share buyback plan, signaling management's belief that Apple's stock is undervalued; it also declared a quarterly dividend of $0.26 per share.
  • Looking to export and analyze Apple data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Meritage Portfolio Management decreased its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 427,833 shares of the iPhone maker's stock after selling 8,097 shares during the quarter. Apple comprises about 6.3% of Meritage Portfolio Management's investment portfolio, making the stock its biggest holding. Meritage Portfolio Management's holdings in Apple were worth $95,035,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Life Planning Partners Inc bought a new stake in shares of Apple in the 4th quarter worth $47,000. Conquis Financial LLC bought a new stake in shares of Apple in the fourth quarter worth $63,000. LSV Asset Management bought a new stake in shares of Apple in the fourth quarter worth $65,000. Pillar Financial Advisors LLC bought a new stake in shares of Apple in the fourth quarter worth $82,000. Finally, Compass Planning Associates Inc bought a new stake in Apple during the fourth quarter valued at about $96,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Wall Street Analyst Weigh In

AAPL has been the subject of several recent research reports. BMO Capital Markets reissued a "buy" rating on shares of Apple in a report on Wednesday, August 13th. Scotiabank lowered Apple to a "market perform" rating in a report on Friday, May 2nd. The Goldman Sachs Group reissued a "buy" rating on shares of Apple in a report on Wednesday, May 21st. JPMorgan Chase & Co. boosted their price target on Apple from $250.00 to $255.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, Loop Capital cut their price target on Apple from $230.00 to $226.00 and set a "hold" rating for the company in a report on Thursday. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Apple presently has an average rating of "Moderate Buy" and a consensus target price of $237.98.

Check Out Our Latest Analysis on AAPL

Insider Activity

In other news, SVP Deirdre O'brien sold 34,821 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the sale, the senior vice president directly owned 136,687 shares of the company's stock, valued at $30,508,538.40. This trade represents a 20.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is owned by insiders.

Apple Price Performance

Shares of Apple stock traded up $3.51 during trading hours on Friday, hitting $228.41. The company's stock had a trading volume of 24,751,973 shares, compared to its average volume of 57,281,676. The business has a 50 day moving average price of $211.89 and a two-hundred day moving average price of $213.13. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The company has a market cap of $3.39 trillion, a PE ratio of 34.64, a PEG ratio of 2.37 and a beta of 1.16. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL - Get Free Report) last posted its 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. The company had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm's revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.40 earnings per share. Analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, August 11th. Apple's dividend payout ratio (DPR) is presently 15.78%.

Apple announced that its board has initiated a stock repurchase plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its shares are undervalued.

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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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