Libra Wealth LLC grew its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 16.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,548 shares of the iPhone maker’s stock after purchasing an additional 3,000 shares during the quarter. Apple makes up approximately 2.2% of Libra Wealth LLC’s holdings, making the stock its 9th biggest position. Libra Wealth LLC’s holdings in Apple were worth $3,761,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in AAPL. Norges Bank purchased a new stake in shares of Apple during the 4th quarter valued at about $25,228,507,000. State Street Corp increased its position in shares of Apple by 1.8% during the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock valued at $112,422,274,000 after purchasing an additional 10,951,705 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Apple by 38.1% during the 4th quarter. Capital Research Global Investors now owns 29,549,427 shares of the iPhone maker’s stock valued at $5,247,094,000 after acquiring an additional 8,154,171 shares during the period. ProShare Advisors LLC grew its stake in shares of Apple by 41.8% during the 4th quarter. ProShare Advisors LLC now owns 20,866,567 shares of the iPhone maker’s stock valued at $3,705,275,000 after acquiring an additional 6,154,422 shares during the period. Finally, TD Asset Management Inc. grew its stake in shares of Apple by 35.2% during the 4th quarter. TD Asset Management Inc. now owns 22,076,969 shares of the iPhone maker’s stock valued at $3,920,207,000 after acquiring an additional 5,745,290 shares during the period. Hedge funds and other institutional investors own 57.98% of the company’s stock.
Apple Stock Performance
AAPL stock opened at $164.92 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63. The business’s fifty day simple moving average is $146.97 and its two-hundred day simple moving average is $157.08. Apple Inc. has a twelve month low of $129.04 and a twelve month high of $182.94. The firm has a market cap of $2.65 trillion, a price-to-earnings ratio of 27.21, a PEG ratio of 2.14 and a beta of 1.23.
Apple (NASDAQ:AAPL – Get Rating) last released its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. The business had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.30 earnings per share. Analysts predict that Apple Inc. will post 6.1 earnings per share for the current year.
Apple Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Shareholders of record on Monday, August 8th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.56%. The ex-dividend date is Friday, August 5th. Apple’s dividend payout ratio is presently 15.18%.
Apple announced that its Board of Directors has initiated a share buyback program on Thursday, April 28th that permits the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to purchase up to 3.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on AAPL shares. UBS Group set a $185.00 price objective on Apple in a research note on Thursday, July 21st. Fundamental Research set a $177.07 price objective on Apple and gave the company a “buy” rating in a research note on Thursday, August 4th. The Goldman Sachs Group set a $139.00 price objective on Apple in a research note on Friday, July 29th. Itau BBA Securities started coverage on Apple in a research note on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price objective for the company. Finally, 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 note on Friday, July 29th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average target price of $179.27.
Insider Transactions at Apple
In other news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the senior vice president now directly owns 427,334 shares in the company, valued at $70,411,823.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.06% of the company’s stock.
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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