Topel & Distasi Wealth Management LLC lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 11.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,050 shares of the iPhone maker’s stock after selling 645 shares during the quarter. Topel & Distasi Wealth Management LLC’s holdings in Apple were worth $882,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of AAPL. Cardinal Capital Management Inc. raised its holdings in Apple by 5,525.0% in the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after acquiring an additional 221 shares during the period. Shore Point Advisors LLC bought a new position in Apple in the 4th quarter worth $41,000. St. James Investment Advisors LLC bought a new position in Apple in the 4th quarter worth $57,000. Econ Financial Services Corp bought a new position in Apple in the 4th quarter worth $58,000. Finally, Castle Financial & Retirement Planning Associates Inc. bought a new position in Apple in the 4th quarter worth $116,000. Institutional investors own 57.98% of the company’s stock.
Analyst Ratings Changes
Several brokerages recently commented on AAPL. Piper Sandler dropped their target price on shares of Apple from $200.00 to $195.00 in a report on Friday, April 29th. Deutsche Bank Rese… set a $210.00 price objective on shares of Apple in a report on Friday, April 8th. Citigroup dropped their price objective on shares of Apple from $200.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday. Bank of America dropped their price objective on shares of Apple from $215.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, May 19th. Finally, Oppenheimer reiterated an “outperform” rating and set a $190.00 target price on shares of Apple in a research report on Wednesday, June 8th. Nine investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.49.
Apple Stock Up 1.1 %
Apple stock opened at $150.17 on Friday. The stock has a market capitalization of $2.43 trillion, a PE ratio of 24.38, a price-to-earnings-growth ratio of 1.92 and a beta of 1.19. Apple Inc. has a twelve month low of $129.04 and a twelve month high of $182.94. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 1.53. The company has a 50 day moving average of $142.54 and a 200-day moving average of $158.83.
Apple (NASDAQ:AAPL – Get Rating) last released its quarterly earnings results on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.09. The company had revenue of $97.28 billion during the quarter, compared to analysts’ expectations of $93.99 billion. Apple had a net margin of 26.41% and a return on equity of 152.88%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.40 earnings per share. On average, equities research analysts anticipate that Apple Inc. will post 6.09 EPS for the current fiscal year.
Apple Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, May 12th. Stockholders of record on Monday, May 9th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend was Friday, May 6th. This is a boost from Apple’s previous quarterly dividend of $0.22. Apple’s dividend payout ratio is 14.94%.
Apple announced that its Board of Directors has approved a share repurchase plan on Thursday, April 28th that permits the company to repurchase $90.00 billion in shares. This repurchase authorization permits the iPhone maker to buy up to 3.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
In related news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the completion of the transaction, the senior vice president now owns 452,334 shares in the company, valued at $73,151,454.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Apple news, SVP Deirdre O’brien sold 8,000 shares of the stock in a transaction on Monday, April 18th. The shares were sold at an average price of $164.91, for a total value of $1,319,280.00. Following the completion of the sale, the senior vice president now owns 136,290 shares in the company, valued at $22,475,583.90. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the completion of the sale, the senior vice president now owns 452,334 shares of the company’s stock, valued at approximately $73,151,454.48. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.
Receive News & Ratings for Apple Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Apple and related companies with MarketBeat.com’s FREE daily email newsletter.