Boyer & Corporon Wealth Management LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,159 shares of the iPhone maker’s stock after selling 743 shares during the period. Apple makes up 2.9% of Boyer & Corporon Wealth Management LLC’s portfolio, making the stock its 8th biggest position. Boyer & Corporon Wealth Management LLC’s holdings in Apple were worth $9,806,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Apple in the 4th quarter valued at $25,228,507,000. State Street Corp grew its stake in Apple by 1.8% in 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 acquiring an additional 10,951,705 shares during the period. Capital Research Global Investors increased its holdings in shares of Apple by 38.1% in the fourth quarter. Capital Research Global Investors now owns 29,549,427 shares of the iPhone maker’s stock worth $5,247,094,000 after acquiring an additional 8,154,171 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Apple by 114.9% during the first quarter. SG Americas Securities LLC now owns 959,506 shares of the iPhone maker’s stock worth $167,539,000 after purchasing an additional 7,386,473 shares during the period. Finally, ProShare Advisors LLC lifted its holdings in shares of Apple by 41.8% during the 4th quarter. ProShare Advisors LLC now owns 20,866,567 shares of the iPhone maker’s stock valued at $3,705,275,000 after purchasing an additional 6,154,422 shares in the last quarter. 57.62% of the stock is currently owned by institutional investors and hedge funds.
Apple Price Performance
Apple stock opened at $167.57 on Tuesday. The company has a market capitalization of $2.69 trillion, a price-to-earnings ratio of 27.65, a PEG ratio of 2.22 and a beta of 1.23. 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 Inc. has a 12 month low of $129.04 and a 12 month high of $182.94. The stock’s 50 day moving average is $151.85 and its 200-day moving average is $157.22.
Apple (NASDAQ:AAPL – Get Rating) last issued its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. During the same period in the prior year, the firm posted $1.30 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities research analysts expect that Apple Inc. will post 6.1 EPS for the current year.
Apple Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s dividend payout ratio is currently 15.18%.
Apple announced that its Board of Directors has authorized a share buyback program on Thursday, April 28th that permits the company to buyback $90.00 billion in shares. This buyback authorization permits the iPhone maker to reacquire up to 3.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.
Wall Street Analyst Weigh In
Several analysts have commented on AAPL shares. Rosenblatt Securities dropped their target price on shares of Apple from $168.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, July 29th. Bank of America cut their price objective on shares of Apple from $200.00 to $185.00 in a research report on Tuesday, July 26th. Oppenheimer reiterated an “outperform” rating and set a $190.00 target price on shares of Apple in a report on Wednesday, June 8th. Wedbush boosted their price target on Apple from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, August 17th. Finally, The Goldman Sachs Group set a $139.00 price objective on Apple in a report on Friday, July 29th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $181.18.
Insiders Place Their Bets
In other news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of the sale, the senior vice president now directly owns 427,334 shares in the company, valued at $70,411,823.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Luca Maestri sold 96,735 shares of the firm’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the transaction, the chief financial officer now owns 110,673 shares in the company, valued at $19,362,241.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The stock was 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 of the company’s stock, valued at approximately $70,411,823.18. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.
Apple Company Profile
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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