Red Lighthouse Investment Management LLC raised its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 5.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 93,531 shares of the iPhone maker's stock after acquiring an additional 5,086 shares during the period. Apple accounts for about 8.3% of Red Lighthouse Investment Management LLC's holdings, making the stock its 4th biggest position. Red Lighthouse Investment Management LLC's holdings in Apple were worth $20,776,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the stock. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Apple by 3.2% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 2,146,030 shares of the iPhone maker's stock worth $476,698,000 after purchasing an additional 66,935 shares during the period. Clear Creek Financial Management LLC boosted its position in Apple by 7.1% during the 1st quarter. Clear Creek Financial Management LLC now owns 63,529 shares of the iPhone maker's stock worth $14,112,000 after purchasing an additional 4,197 shares during the period. Hapanowicz & Associates Financial Services Inc boosted its position in Apple by 18.8% during the 1st quarter. Hapanowicz & Associates Financial Services Inc now owns 3,542 shares of the iPhone maker's stock worth $787,000 after purchasing an additional 560 shares during the period. Smith Group Asset Management LLC boosted its position in Apple by 2.1% during the 1st quarter. Smith Group Asset Management LLC now owns 255,009 shares of the iPhone maker's stock worth $56,645,000 after purchasing an additional 5,129 shares during the period. Finally, BLB&B Advisors LLC boosted its position in Apple by 3.0% during the 1st quarter. BLB&B Advisors LLC now owns 316,530 shares of the iPhone maker's stock worth $70,311,000 after purchasing an additional 9,257 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, SVP Deirdre O'brien sold 34,821 shares of Apple 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 transaction, the senior vice president owned 136,687 shares in the company, valued at $30,508,538.40. This trade represents a 20.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.06% of the stock is owned by company insiders.
Apple Stock Down 0.5%
Shares of NASDAQ:AAPL traded down $1.1370 during trading on Tuesday, reaching $229.7530. 23,261,262 shares of the company traded hands, compared to its average volume of 57,655,609. The firm has a fifty day simple moving average of $210.28 and a 200 day simple moving average of $212.94. The firm has a market cap of $3.41 trillion, a P/E ratio of 34.86, a price-to-earnings-growth ratio of 2.42 and a beta of 1.16. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25.
Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. The business had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. Apple's revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.40 EPS. Analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple declared that its board has initiated a stock repurchase program on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.
Apple Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were issued a dividend of $0.26 per share. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.5%. Apple's dividend payout ratio (DPR) is currently 15.78%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on AAPL. Monness Crespi & Hardt upped their target price on shares of Apple from $245.00 to $270.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Bank of America increased their price objective on shares of Apple from $240.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. The Goldman Sachs Group reiterated a "buy" rating on shares of Apple in a research note on Wednesday, May 21st. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research note on Friday, July 25th. Finally, Barclays increased their price objective on shares of Apple from $173.00 to $180.00 and gave the stock an "underweight" rating in a research note on Friday, August 1st. 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 given a Sell rating to the company. According to data from MarketBeat, Apple currently has a consensus rating of "Moderate Buy" and an average target price of $237.60.
Check Out Our Latest Research Report on Apple
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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