Midland Wealth Advisors LLC decreased its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 3.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,315 shares of the iPhone maker's stock after selling 2,192 shares during the quarter. Apple makes up 0.7% of Midland Wealth Advisors LLC's investment portfolio, making the stock its 14th biggest holding. Midland Wealth Advisors LLC's holdings in Apple were worth $11,843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently bought and sold shares of AAPL. Tallon Kerry Patrick purchased a new stake in Apple during the 4th quarter worth about $1,877,000. First National Bank of Hutchinson increased its holdings in Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock worth $8,845,000 after purchasing an additional 6,982 shares during the period. Capital & Planning LLC increased its holdings in Apple by 10.7% during the 4th quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker's stock worth $6,836,000 after purchasing an additional 2,647 shares during the period. JBGlobal.com LLC purchased a new stake in Apple during the 4th quarter worth about $2,302,000. Finally, Mitsubishi UFJ Asset Management UK Ltd. increased its holdings in Apple by 7.1% during the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 30,000 shares of the iPhone maker's stock worth $7,513,000 after purchasing an additional 2,000 shares during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.
Insider Buying and Selling
In related news, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 15,533 shares of the company's stock, valued at $3,233,815.27. This trade represents a 22.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of the firm's stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value of $941,420.00. Following the completion of the transaction, the chief financial officer directly owned 4,569 shares of the company's stock, valued at $941,214. The trade was a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company's stock.
Wall Street Analyst Weigh In
AAPL has been the subject of several analyst reports. Rosenblatt Securities cut Apple from a "buy" rating to a "neutral" rating and set a $217.00 price objective for the company. in a research report on Friday, May 2nd. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a research report on Tuesday, June 10th. TD Cowen lowered their price objective on Apple from $290.00 to $275.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Barclays set a $173.00 price objective on Apple and gave the stock an "underweight" rating in a research report on Tuesday, June 24th. Finally, Evercore ISI upped their price objective on Apple to $250.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Apple has an average rating of "Moderate Buy" and an average price target of $235.27.
Read Our Latest Stock Analysis on Apple
Apple Stock Performance
Apple stock traded down $1.25 during mid-day trading on Friday, reaching $211.16. 39,713,698 shares of the company were exchanged, compared to its average volume of 53,349,236. The firm has a market cap of $3.15 trillion, a PE ratio of 32.89, a price-to-earnings-growth ratio of 2.36 and a beta of 1.20. The firm's 50-day simple moving average is $203.39 and its two-hundred day simple moving average is $217.12. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82.
Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. The business had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. The company's revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.53 EPS. Equities analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple declared that its board has authorized a stock repurchase plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits 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 stock is undervalued.
Apple Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.49%. This is an increase from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. Apple's dividend payout ratio is 16.20%.
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.
Further Reading
Before you consider Apple, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Apple wasn't on the list.
While Apple currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
