Apple Inc. (NASDAQ:AAPL) Stock Holdings Increased by HCR Wealth Advisors

HCR Wealth Advisors boosted its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 598,758 shares of the iPhone maker’s stock after acquiring an additional 1,563 shares during the period. Apple comprises 17.1% of HCR Wealth Advisors’ portfolio, making the stock its largest holding. HCR Wealth Advisors’ holdings in Apple were worth $104,549,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AAPL. Cardinal Capital Management Inc. raised its position in Apple by 5,525.0% during the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after acquiring an additional 221 shares during the last quarter. Shore Point Advisors LLC acquired a new position in shares of Apple in the fourth quarter valued at approximately $41,000. St. James Investment Advisors LLC acquired a new position in shares of Apple in the fourth quarter valued at approximately $57,000. Emerson Wealth LLC raised its position in shares of Apple by 363.6% in the first quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock valued at $71,000 after buying an additional 320 shares during the last quarter. Finally, Econ Financial Services Corp raised its position in shares of Apple by 29.1% in the first quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock valued at $74,000 after buying an additional 95 shares during the last quarter. Institutional investors and hedge funds own 57.62% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on AAPL. Morgan Stanley cut their price objective on shares of Apple from $185.00 to $180.00 and set an “overweight” rating for the company in a research report on Wednesday, July 20th. Wedbush boosted their price objective on shares of Apple from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, August 17th. KeyCorp boosted their price objective on shares of Apple from $177.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, August 19th. Itaú Unibanco assumed coverage on shares of Apple in a research report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price objective for the company. Finally, Evercore ISI upped their price target on shares of Apple from $180.00 to $185.00 in a research report on Friday, July 29th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $181.18.

Apple Stock Performance

Shares of AAPL opened at $167.53 on Thursday. The firm has a 50-day moving average price of $153.18 and a 200 day moving average price of $157.36. The firm has a market capitalization of $2.69 trillion, a PE ratio of 27.65, a P/E/G ratio of 2.17 and a beta of 1.23. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last announced its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $82.97 billion. During the same quarter in the prior year, the firm posted $1.30 EPS. Apple’s revenue was up 1.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Apple Inc. will post 6.1 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s payout ratio is 15.18%.

Apple declared that its Board of Directors has authorized a stock repurchase plan on Thursday, April 28th that allows the company to buyback $90.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to buy up to 3.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 25,000 shares of the 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 of the company’s stock, valued at $70,411,823.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Luca Maestri sold 96,735 shares of the stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total value of $16,923,788.25. Following the completion of the sale, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

About Apple

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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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