Safir Wealth Advisors LLC Makes New Investment in Apple Inc. (NASDAQ:AAPL)

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Safir Wealth Advisors LLC purchased a new position in Apple Inc. (NASDAQ:AAPLGet Rating) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,200 shares of the iPhone maker’s stock, valued at approximately $210,000. Apple accounts for 0.2% of Safir Wealth Advisors LLC’s portfolio, making the stock its 16th biggest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AAPL. Joseph Group Capital Management acquired a new position in shares of Apple in the 4th quarter valued at approximately $1,631,000. Cardinal Capital Management Inc. raised its position in shares of Apple by 5,525.0% in the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock valued at $39,000 after purchasing an additional 221 shares in the last quarter. Shore Point Advisors LLC acquired a new position in shares of Apple in the 4th quarter valued at approximately $41,000. St. James Investment Advisors LLC acquired a new position in shares of Apple in the 4th quarter valued at approximately $57,000. Finally, Econ Financial Services Corp acquired a new position in shares of Apple in the 4th quarter valued at approximately $58,000. Hedge funds and other institutional investors own 57.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. 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 report on Wednesday, May 25th. Oppenheimer reissued an “outperform” rating and set a $190.00 price target on shares of Apple in a research report on Wednesday, June 8th. Sanford C. Bernstein set a $170.00 price target on Apple in a research report on Monday, May 2nd. Morgan Stanley dropped their price target 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, Piper Sandler dropped their price target on Apple from $200.00 to $195.00 in a research report on Friday, April 29th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average price target of $179.04.

Apple Trading Up 3.3 %

Shares of AAPL stock opened at $162.51 on Monday. The stock has a 50-day simple moving average of $144.31 and a 200 day simple moving average of $157.20. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94. The stock has a market capitalization of $2.63 trillion, a P/E ratio of 26.38, a P/E/G ratio of 1.97 and a beta of 1.19. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 1.53.

Apple (NASDAQ:AAPLGet Rating) last announced 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 return on equity of 152.88% and a net margin of 26.41%. The business had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. During the same quarter last year, the business posted $1.30 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis. On average, sell-side analysts expect that Apple Inc. will post 6.09 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Monday, August 8th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Friday, August 5th. Apple’s dividend payout ratio is 14.94%.

Apple announced that its Board of Directors has initiated a stock repurchase program on Thursday, April 28th that allows the company to repurchase $90.00 billion in shares. This repurchase authorization allows the iPhone maker to purchase up to 3.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the completion of the sale, the senior vice president now directly owns 452,334 shares of the company’s stock, valued at $73,151,454.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.06% of the stock is currently owned by company insiders.

Apple Profile

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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.

See Also

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