Focused Wealth Management Inc grew its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 97,808 shares of the iPhone maker’s stock after acquiring an additional 633 shares during the quarter. Apple comprises about 2.7% of Focused Wealth Management Inc’s portfolio, making the stock its 8th biggest position. Focused Wealth Management Inc’s holdings in Apple were worth $17,078,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in AAPL. Bailey Value Limited Partnership purchased a new position in Apple during the 4th quarter worth $10,654,000. Grove Bank & Trust grew its stake in Apple by 1.7% during the 4th quarter. Grove Bank & Trust now owns 131,944 shares of the iPhone maker’s stock worth $23,429,000 after buying an additional 2,148 shares during the last quarter. LifePro Asset Management grew its stake in Apple by 2.2% during the 4th quarter. LifePro Asset Management now owns 8,757 shares of the iPhone maker’s stock worth $1,555,000 after buying an additional 190 shares during the last quarter. Adviser Investments LLC grew its stake in Apple by 1.1% during the 4th quarter. Adviser Investments LLC now owns 249,299 shares of the iPhone maker’s stock worth $44,268,000 after buying an additional 2,620 shares during the last quarter. Finally, Schneider Downs Wealth Management Advisors LP grew its stake in Apple by 0.4% during the 4th quarter. Schneider Downs Wealth Management Advisors LP now owns 40,512 shares of the iPhone maker’s stock worth $7,194,000 after buying an additional 168 shares during the last quarter. 57.98% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the sale, the senior vice president now directly owns 427,334 shares in the company, valued at $70,411,823.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.06% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have weighed in on the company. Barclays dropped their price target on Apple from $167.00 to $166.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 13th. Citigroup boosted their price target on Apple from $175.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, July 29th. Itaú Unibanco assumed coverage on Apple in a research note on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price target on the stock. Itau BBA Securities began coverage on Apple in a research note on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price target on the stock. Finally, Oppenheimer reissued an “outperform” rating and issued a $190.00 price objective on shares of Apple in a report on Wednesday, June 8th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $179.27.
Apple Stock Up 2.6 %
Shares of AAPL opened at $169.24 on Thursday. The firm has a market cap of $2.72 trillion, a P/E ratio of 27.93, a price-to-earnings-growth ratio of 2.14 and a beta of 1.23. Apple Inc. has a 12-month low of $129.04 and a 12-month high of $182.94. The company’s 50-day moving average price is $146.97 and its 200 day moving average price is $157.08. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63.
Apple (NASDAQ:AAPL – Get Rating) last issued its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. The company had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.30 earnings per share. On average, sell-side analysts forecast that Apple Inc. will post 6.1 earnings per share for the current year.
Apple declared that its Board of Directors has approved a share buyback program on Thursday, April 28th that authorizes the company to buyback $90.00 billion in shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
Apple Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Shareholders of record on Monday, August 8th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 0.54%. Apple’s dividend payout ratio (DPR) is presently 15.18%.
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.
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