Wealth Dimensions Group Ltd. raised its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 67,039 shares of the iPhone maker’s stock after acquiring an additional 968 shares during the quarter. Apple makes up 5.4% of Wealth Dimensions Group Ltd.’s investment portfolio, making the stock its 6th biggest holding. Wealth Dimensions Group Ltd.’s holdings in Apple were worth $11,706,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in AAPL. Elk River Wealth Management LLC grew its holdings in shares of Apple by 49.0% during the first quarter. Elk River Wealth Management LLC now owns 167,122 shares of the iPhone maker’s stock worth $29,181,000 after purchasing an additional 54,989 shares during the last quarter. Piscataqua Savings Bank grew its stake in Apple by 1.5% during the 1st quarter. Piscataqua Savings Bank now owns 47,546 shares of the iPhone maker’s stock worth $8,302,000 after buying an additional 684 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in Apple during the 1st quarter worth approximately $171,000. Fountainhead AM LLC increased its position in Apple by 11.6% during the fourth quarter. Fountainhead AM LLC now owns 45,544 shares of the iPhone maker’s stock worth $7,732,000 after buying an additional 4,738 shares during the period. Finally, Primoris Wealth Advisors LLC purchased a new stake in Apple in the fourth quarter valued at approximately $4,282,000. Hedge funds and other institutional investors own 57.62% of the company’s stock.
Insider Buying and Selling at Apple
In other news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total value 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the completion of the sale, the chief financial officer now directly owns 110,673 shares in the company, valued at $19,362,241.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 427,334 shares in the company, valued at approximately $70,411,823.18. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of brokerages have recently commented on AAPL. set a $175.00 target price on shares of Apple in a report on Friday, July 29th. Barclays dropped their price objective on shares of Apple from $167.00 to $166.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 13th. The Goldman Sachs Group set a $139.00 target price on shares of Apple in a research note on Friday, July 29th. Wells Fargo & Company dropped their price target on Apple from $205.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. Finally, Citigroup increased their price objective on Apple from $175.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.18.
Apple Trading Down 2.3 %
NASDAQ:AAPL opened at $167.57 on Tuesday. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63. The stock has a fifty day simple moving average of $151.85 and a 200-day simple moving average of $157.22. The company has a market capitalization of $2.69 trillion, a PE ratio of 27.65, a price-to-earnings-growth ratio of 2.22 and a beta of 1.23.
Apple (NASDAQ:AAPL – Get Rating) last posted its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.06. Apple had a net margin of 25.71% and a return on equity of 152.97%. The firm had revenue of $82.96 billion during the quarter, compared to the consensus estimate of $82.97 billion. During the same period last year, the firm posted $1.30 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities research analysts expect that Apple Inc. will post 6.1 earnings per share for the current fiscal year.
Apple declared that its Board of Directors has authorized a stock buyback plan on Thursday, April 28th that allows the company to repurchase $90.00 billion in shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
Apple Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Friday, August 5th. 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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