Great Diamond Partners LLC lessened its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,170 shares of the iPhone maker’s stock after selling 208 shares during the quarter. Apple makes up about 1.9% of Great Diamond Partners LLC’s investment portfolio, making the stock its 7th largest position. Great Diamond Partners LLC’s holdings in Apple were worth $6,664,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Cardinal Capital Management Inc. lifted its position in shares of Apple by 5,525.0% during the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after buying an additional 221 shares during the period. Shore Point Advisors LLC bought a new position in shares of Apple during the 4th quarter worth approximately $41,000. St. James Investment Advisors LLC bought a new position in shares of Apple during the 4th quarter worth approximately $57,000. Emerson Wealth LLC lifted its position in shares of Apple by 363.6% during the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after buying an additional 320 shares during the period. Finally, Econ Financial Services Corp raised its position in Apple by 29.1% in the 1st quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock valued at $74,000 after purchasing an additional 95 shares during the last quarter. Institutional investors and hedge funds own 57.62% of the company’s stock.
In other news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction dated 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 filing with the SEC, which is accessible through the SEC website. In related news, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction dated 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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $4,119,250.00. Following the sale, the senior vice president now owns 427,334 shares in the company, valued at approximately $70,411,823.18. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.
Wall Street Analyst Weigh In
AAPL has been the subject of several research analyst reports. Rosenblatt Securities cut their price objective on Apple from $168.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, July 29th. The Goldman Sachs Group set a $139.00 price objective on Apple in a research report on Friday, July 29th. Deutsche Bank Aktiengesellschaft set a $175.00 price objective on Apple in a research report on Monday, August 1st. set a $175.00 price objective on Apple in a research report on Friday, July 29th. Finally, Itau BBA Securities assumed coverage on Apple in a research note on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 target price for the company. Two equities research 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $181.18.
Apple Stock Down 3.8 %
NASDAQ:AAPL opened at $163.62 on Friday. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63. The stock has a market cap of $2.63 trillion, a price-to-earnings ratio of 27.00, a PEG ratio of 2.16 and a beta of 1.23. The stock has a 50-day moving average price of $154.62 and a two-hundred day moving average price of $157.14.
Apple (NASDAQ:AAPL – Get Rating) last posted 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 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 period in the previous year, the firm earned $1.30 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. As a group, equities analysts expect that Apple Inc. will post 6.1 earnings per share for the current year.
Apple Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were issued a $0.23 dividend. The ex-dividend date was Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.56%. Apple’s dividend payout ratio (DPR) is 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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