Rothschild Capital Partners LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 177,359 shares of the iPhone maker’s stock after selling 4,867 shares during the period. Apple comprises 10.9% of Rothschild Capital Partners LLC’s investment portfolio, making the stock its largest position. Rothschild Capital Partners LLC’s holdings in Apple were worth $30,967,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of AAPL. Elk River Wealth Management LLC grew its position in Apple by 49.0% during the 1st quarter. Elk River Wealth Management LLC now owns 167,122 shares of the iPhone maker’s stock worth $29,181,000 after acquiring an additional 54,989 shares during the last quarter. Piscataqua Savings Bank grew its position 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 acquiring an additional 684 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in Apple during the 1st quarter worth approximately $171,000. Fountainhead AM LLC grew its position in Apple by 11.6% during the 4th quarter. Fountainhead AM LLC now owns 45,544 shares of the iPhone maker’s stock worth $7,732,000 after acquiring an additional 4,738 shares during the last quarter. Finally, Primoris Wealth Advisors LLC bought a new position in Apple during the 4th quarter worth approximately $4,282,000. 57.62% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Apple
In related news, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction on Wednesday, August 17th. The stock was 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 owns 110,673 shares in the company, valued at $19,362,241.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction on Wednesday, August 17th. The stock was 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 owns 110,673 shares in the company, valued at $19,362,241.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value 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. 0.06% of the stock is owned by company insiders.
Apple Stock Up 0.2 %
AAPL stock opened at $167.53 on Thursday. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The business has a fifty day moving average price of $153.18 and a 200-day moving average price of $157.36. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. The stock has a market capitalization of $2.69 trillion, a P/E ratio of 27.65, a P/E/G ratio of 2.17 and a beta of 1.23.
Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $82.97 billion. During the same quarter in the previous year, the business earned $1.30 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. Equities analysts forecast that Apple Inc. will post 6.1 earnings per share for the current fiscal year.
Apple announced that its board has initiated a stock buyback plan on Thursday, April 28th that authorizes the company to buyback $90.00 billion in shares. This buyback authorization authorizes the iPhone maker to buy up to 3.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
Apple Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were given 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%.
Analyst Upgrades and Downgrades
AAPL has been the topic of several recent research reports. Bank of America reduced their price target on Apple from $200.00 to $185.00 in a research report on Tuesday, July 26th. Sanford C. Bernstein set a $170.00 price objective on Apple in a research report on Monday, May 2nd. Barclays cut their price objective on Apple from $167.00 to $166.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 13th. Morgan Stanley cut their price objective on Apple from $185.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. Finally, Fundamental Research set a $177.07 price objective on Apple and gave the stock a “buy” rating in a research report on Thursday, August 4th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $181.18.
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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