Endurance Wealth Management Inc. lowered its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 16.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 203,046 shares of the iPhone maker’s stock after selling 40,266 shares during the quarter. Apple comprises 4.6% of Endurance Wealth Management Inc.’s investment portfolio, making the stock its 2nd biggest holding. Endurance Wealth Management Inc.’s holdings in Apple were worth $35,454,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp raised its holdings in shares of Apple by 1.8% during the fourth quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock valued at $112,422,274,000 after purchasing an additional 10,951,705 shares during the period. Geode Capital Management LLC raised its holdings in shares of Apple by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker’s stock worth $46,812,958,000 after acquiring an additional 4,456,954 shares during the last quarter. Norges Bank acquired a new stake in shares of Apple in the 4th quarter worth about $25,228,507,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Apple by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 79,583,859 shares of the iPhone maker’s stock worth $14,131,710,000 after acquiring an additional 1,273,148 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of Apple by 5.1% in the 4th quarter. Fisher Asset Management LLC now owns 63,982,104 shares of the iPhone maker’s stock worth $11,361,302,000 after acquiring an additional 3,096,696 shares during the last quarter. 57.98% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group lowered their target price on shares of Apple from $157.00 to $130.00 and set a “neutral” rating on the stock in a report on Wednesday, July 6th. Morgan Stanley lowered their target price on shares of Apple from $195.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, June 14th. Citigroup lowered their target price on shares of Apple from $200.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday. Barclays decreased their price objective on shares of Apple from $167.00 to $166.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, Evercore ISI decreased their price objective on shares of Apple from $210.00 to $180.00 and set an “outperform” rating for the company in a research note on Tuesday, June 28th. Nine research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $183.49.
AAPL opened at $148.47 on Friday. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 1.53. The company has a market cap of $2.40 trillion, a PE ratio of 24.10, a price-to-earnings-growth ratio of 1.89 and a beta of 1.19. The company has a 50 day moving average of $142.68 and a 200 day moving average of $159.17.
Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings data 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 firm had revenue of $97.28 billion for 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% on a year-over-year basis. During the same quarter last year, the company posted $1.40 EPS. Research analysts forecast that Apple Inc. will post 6.09 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 12th. Stockholders of record on Monday, May 9th were given a dividend of $0.23 per share. The ex-dividend date was Friday, May 6th. This represents a $0.92 annualized dividend and a dividend yield of 0.62%. This is a boost from Apple’s previous quarterly dividend of $0.22. Apple’s dividend payout ratio (DPR) is 14.94%.
Apple announced that its Board of Directors has authorized a share repurchase plan on Thursday, April 28th that authorizes the company to buyback $90.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.
In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $161.72, for a total value of $4,043,000.00. Following the sale, the senior vice president now owns 452,334 shares of the company’s stock, valued at approximately $73,151,454.48. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Deirdre O’brien sold 8,000 shares of the firm’s stock in a transaction on Monday, April 18th. The stock was sold at an average price of $164.91, for a total transaction of $1,319,280.00. Following the completion of the sale, the senior vice president now directly owns 136,290 shares in the company, valued at approximately $22,475,583.90. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.
Apple Profile (Get Rating)
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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