Highland Private Wealth Management increased its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 61,127 shares of the iPhone maker’s stock after purchasing an additional 873 shares during the period. Apple comprises about 1.4% of Highland Private Wealth Management’s investment portfolio, making the stock its 17th biggest holding. Highland Private Wealth Management’s holdings in Apple were worth $10,673,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AAPL. Daniels&Tansey LLP increased its stake in Apple by 1.6% in the fourth quarter. Daniels&Tansey LLP now owns 3,858 shares of the iPhone maker’s stock valued at $685,000 after acquiring an additional 60 shares during the period. Donald L. Hagan LLC boosted its position in Apple by 0.3% in the first quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock valued at $3,181,000 after buying an additional 61 shares in the last quarter. Goodwin Daniel L boosted its position in Apple by 0.5% in the first quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock valued at $2,230,000 after buying an additional 62 shares in the last quarter. Opus Capital Group LLC boosted its position in Apple by 0.3% in the first quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock valued at $3,332,000 after buying an additional 63 shares in the last quarter. Finally, Norwood Financial Corp boosted its position in Apple by 0.9% in the first quarter. Norwood Financial Corp now owns 7,025 shares of the iPhone maker’s stock valued at $1,227,000 after buying an additional 65 shares in the last quarter. Institutional investors and hedge funds own 57.98% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on AAPL shares. Loop Capital reduced their price target on shares of Apple from $210.00 to $180.00 and set a “buy” rating on the stock in a research report on Wednesday, May 25th. Itaú Unibanco started coverage on shares of Apple in a research report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 target price on the stock. set a $175.00 target price on shares of Apple in a research report on Friday, July 29th. Morgan Stanley reduced their target price on shares of Apple from $185.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. Finally, JPMorgan Chase & Co. set a $200.00 target price on shares of Apple in a research report on Monday, July 25th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $179.27.
Apple Stock Performance
Shares of Apple stock opened at $165.35 on Friday. The firm has a market cap of $2.66 trillion, a price-to-earnings ratio of 27.29, a price-to-earnings-growth ratio of 2.15 and a beta of 1.23. The stock’s 50-day moving average is $146.34 and its 200-day moving average is $157.12. Apple Inc. has a one year low of $129.04 and a one year high of $182.94. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82.
Apple (NASDAQ:AAPL – Get Rating) last issued its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 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 company had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. During the same period in the previous year, the company posted $1.30 earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. Equities analysts predict that Apple Inc. will post 6.1 earnings per share for the current fiscal year.
Apple Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Monday, August 8th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, August 5th. This represents a $0.92 annualized dividend and a yield of 0.56%. Apple’s payout ratio is presently 15.18%.
Apple announced that its board has initiated a stock repurchase program on Thursday, April 28th that authorizes the company to buyback $90.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to buy up to 3.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
Insider Buying and Selling
In related news, 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 transaction of $4,119,250.00. Following the sale, the senior vice president now owns 427,334 shares in the company, valued at $70,411,823.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.
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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