Stonebridge Financial Group LLC lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 0.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 137,988 shares of the iPhone maker's stock after buying an additional 1,151 shares during the period. Apple comprises 3.3% of Stonebridge Financial Group LLC's investment portfolio, making the stock its 6th biggest holding. Stonebridge Financial Group LLC's holdings in Apple were worth $30,651,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Life Planning Partners Inc acquired a new stake in shares of Apple in the 4th quarter worth approximately $47,000. Conquis Financial LLC acquired a new stake in shares of Apple in the 4th quarter worth approximately $63,000. LSV Asset Management acquired a new stake in shares of Apple in the 4th quarter worth approximately $65,000. Pillar Financial Advisors LLC acquired a new stake in shares of Apple in the 4th quarter worth approximately $82,000. Finally, Compass Planning Associates Inc acquired a new stake in shares of Apple in the 4th quarter worth approximately $96,000. 67.73% of the stock is owned by hedge funds and other institutional investors.
Apple Trading Down 0.5%
AAPL traded down $1.19 during mid-day trading on Friday, hitting $231.59. The stock had a trading volume of 56,003,275 shares, compared to its average volume of 63,552,584. The stock's fifty day simple moving average is $209.69 and its 200-day simple moving average is $213.33. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market capitalization of $3.44 trillion, a price-to-earnings ratio of 35.14, a price-to-earnings-growth ratio of 2.44 and a beta of 1.16. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10.
Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same period last year, the business posted $1.40 earnings per share. The firm's quarterly revenue was up 9.6% on a year-over-year basis. As a group, research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple announced that its Board of Directors has initiated a stock repurchase 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 repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.
Apple Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's payout ratio is presently 15.78%.
Insider Transactions at Apple
In other Apple 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 sale, the senior vice president directly owned 136,687 shares in the company, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.06% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on AAPL. Jefferies Financial Group upgraded Apple from an "underperform" rating to a "hold" rating in a report on Friday, July 18th. TD Cowen lowered their target price on Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. China Renaissance started coverage on Apple in a report on Tuesday, April 22nd. They set a "buy" rating and a $241.00 target price on the stock. Scotiabank cut Apple to a "market perform" rating in a report on Friday, May 2nd. Finally, BMO Capital Markets restated a "buy" rating on shares of Apple in a report on Wednesday. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $237.60.
View Our Latest Stock Analysis on Apple
Apple Profile
(
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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