Peregrine Asset Advisers Inc. grew its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 8.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,197 shares of the iPhone maker’s stock after acquiring an additional 3,059 shares during the quarter. Apple accounts for about 3.7% of Peregrine Asset Advisers Inc.’s investment portfolio, making the stock its 3rd largest holding. Peregrine Asset Advisers Inc.’s holdings in Apple were worth $7,193,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Cardinal Capital Management Inc. increased its holdings in shares of Apple by 5,525.0% in 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 in the last quarter. Shore Point Advisors LLC bought a new stake in shares of Apple in the fourth quarter worth about $41,000. St. James Investment Advisors LLC bought a new stake in shares of Apple in the fourth quarter worth about $57,000. Emerson Wealth LLC increased its holdings in shares of Apple by 363.6% in the first quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after acquiring an additional 320 shares in the last quarter. 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 buying an additional 95 shares during the last quarter. 57.62% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction dated 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 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 Securities & Exchange Commission, which is available at this link. In other news, CFO Luca Maestri sold 96,735 shares of the firm’s 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 sale, the chief financial officer now directly owns 110,673 shares in the company, valued at approximately $19,362,241.35. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Katherine L. Adams sold 25,000 shares of the firm’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 completion of the sale, the senior vice president now owns 427,334 shares in the company, 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.
Apple Trading Down 3.8 %
AAPL stock opened at $163.62 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86. The company’s 50-day simple moving average is $154.62 and its 200 day simple moving average is $157.14. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94. The company has a market capitalization of $2.63 trillion, a PE ratio of 27.00, a price-to-earnings-growth ratio of 2.16 and a beta of 1.23.
Apple (NASDAQ:AAPL – Get Rating) last released its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.14 by $0.06. The business had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. Apple’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.30 earnings per share. As a group, sell-side analysts anticipate that Apple Inc. will post 6.1 earnings per share for the current year.
Apple Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were paid a dividend of $0.23 per share. The ex-dividend date was Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 0.56%. Apple’s payout ratio is 15.18%.
Wall Street Analyst Weigh In
Several research firms have commented on AAPL. Loop Capital cut their target price on Apple from $210.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, May 25th. Oppenheimer reissued an “outperform” rating and issued a $190.00 price objective on shares of Apple in a research report on Wednesday, June 8th. Itau BBA Securities began coverage on shares of Apple in a research report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price objective on the stock. Wells Fargo & Company cut their price objective on shares of Apple from $205.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. Finally, Itaú Unibanco began coverage on shares of Apple in a research report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price objective on the stock. Two research 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.18.
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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