Parisi Gray Wealth Management lifted its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 3.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,352 shares of the iPhone maker's stock after purchasing an additional 1,816 shares during the quarter. Apple makes up about 4.0% of Parisi Gray Wealth Management's investment portfolio, making the stock its 6th largest position. Parisi Gray Wealth Management's holdings in Apple were worth $12,295,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of AAPL. Advanced Portfolio Management LLC increased its holdings in shares of Apple by 0.3% in the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock worth $3,260,000 after acquiring an additional 47 shares in the last quarter. Family Capital Management Inc. increased its holdings in shares of Apple by 0.3% in the fourth quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock worth $4,235,000 after acquiring an additional 48 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in shares of Apple by 0.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock worth $4,178,000 after acquiring an additional 48 shares in the last quarter. Scarborough Advisors LLC increased its holdings in shares of Apple by 0.3% in the fourth quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker's stock worth $3,992,000 after acquiring an additional 51 shares in the last quarter. Finally, Disciplined Investments LLC increased its holdings in shares of Apple by 0.7% in the fourth quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker's stock worth $1,794,000 after acquiring an additional 51 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.
Apple Price Performance
Shares of NASDAQ AAPL opened at $212.41 on Friday. The firm has a market cap of $3.17 trillion, a P/E ratio of 33.09, a price-to-earnings-growth ratio of 2.36 and a beta of 1.20. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The business's 50 day moving average is $203.27 and its 200-day moving average is $217.73.
Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. The company had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.53 earnings per share. Equities research analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.
Apple declared that its Board of Directors has initiated a stock buyback plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its stock is undervalued.
Apple Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders 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 yield of 0.49%. The ex-dividend date of this dividend was Monday, May 12th. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio (DPR) is 16.20%.
Insiders Place Their Bets
In other news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction 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 transaction, the insider owned 15,533 shares in the company, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction 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 owned 4,569 shares in the company, valued at approximately $941,214. The trade was a 50.01% decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.
Analysts Set New Price Targets
AAPL has been the subject of a number of research reports. Tigress Financial increased their price objective on Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a report on Thursday, April 3rd. Rosenblatt Securities downgraded Apple from a "buy" rating to a "neutral" rating and set a $217.00 price objective for the company. in a report on Friday, May 2nd. Evercore ISI increased their price objective on Apple to $250.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Bank of America reiterated a "buy" rating and set a $235.00 price objective on shares of Apple in a report on Tuesday, June 10th. Finally, Citigroup reissued a "buy" rating on shares of Apple in a research report on Tuesday, June 10th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued 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 a consensus target price of $235.27.
Check Out Our Latest Analysis on AAPL
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
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