Old North State Wealth Management LLC boosted its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 7.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 29,308 shares of the iPhone maker's stock after buying an additional 1,914 shares during the period. Apple makes up approximately 3.6% of Old North State Wealth Management LLC's holdings, making the stock its 3rd biggest holding. Old North State Wealth Management LLC's holdings in Apple were worth $6,522,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of AAPL. Life Planning Partners Inc acquired a new stake in shares of Apple during the fourth quarter worth $47,000. Conquis Financial LLC bought a new stake in shares of Apple during the fourth quarter worth about $63,000. LSV Asset Management bought a new stake in shares of Apple during the fourth quarter worth about $65,000. Pillar Financial Advisors LLC bought a new stake in Apple in the fourth quarter valued at approximately $82,000. Finally, Compass Planning Associates Inc bought a new stake in Apple in the fourth quarter valued at approximately $96,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.
Apple Price Performance
Shares of Apple stock traded up $2.56 during trading on Tuesday, hitting $229.74. 41,781,765 shares of the stock traded hands, compared to its average volume of 57,888,410. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The stock has a market cap of $3.41 trillion, a price-to-earnings ratio of 34.86, a PEG ratio of 2.40 and a beta of 1.16. The firm's fifty day moving average is $207.35 and its 200-day moving average is $213.10. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10.
Apple (NASDAQ:AAPL - Get Free Report) last announced 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. The business had revenue of $94.04 billion for the quarter, compared to analysts' expectations of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%. The business's quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.40 EPS. Research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple announced that its Board of Directors has authorized a share buyback program on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board believes its shares are undervalued.
Apple Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Monday, August 11th will be given 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 is Monday, August 11th. Apple's dividend payout ratio (DPR) is currently 15.78%.
Analysts Set New Price Targets
Several equities analysts have issued reports on the company. TD Cowen dropped their price target on Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Rosenblatt Securities reissued a "neutral" rating and issued a $217.00 price target on shares of Apple in a research note on Tuesday, July 29th. Scotiabank lowered Apple to a "market perform" rating in a research note on Friday, May 2nd. Jefferies Financial Group raised Apple from an "underperform" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Evercore ISI boosted their price target on Apple to $250.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $237.60.
Check Out Our Latest Stock Report on AAPL
About Apple
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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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