West Bancorporation Inc. increased its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 105.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,512 shares of the iPhone maker’s stock after purchasing an additional 10,004 shares during the quarter. Apple accounts for 2.1% of West Bancorporation Inc.’s holdings, making the stock its 13th biggest position. West Bancorporation Inc.’s holdings in Apple were worth $3,407,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in AAPL. Cardinal Capital Management Inc. raised its holdings in shares of Apple by 5,525.0% during the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock valued at $39,000 after acquiring an additional 221 shares during the period. Shore Point Advisors LLC acquired a new stake in shares of Apple during the fourth quarter valued at approximately $41,000. St. James Investment Advisors LLC acquired a new stake in shares of Apple during the fourth quarter valued at approximately $57,000. Emerson Wealth LLC raised its holdings in shares of Apple by 363.6% during the first quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock valued at $71,000 after acquiring an additional 320 shares during the period. Finally, Econ Financial Services Corp raised its holdings in shares of Apple by 29.1% during the first quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock valued at $74,000 after acquiring an additional 95 shares during the period. 57.98% of the stock is currently owned by institutional investors.
In other news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of the transaction, the senior vice president now owns 427,334 shares in the company, valued at approximately $70,411,823.18. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.06% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft set a $175.00 price target on shares of Apple in a report on Monday, August 1st. Oppenheimer reaffirmed an “outperform” rating and set a $190.00 price objective on shares of Apple in a research report on Wednesday, June 8th. Loop Capital lowered their price objective 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. Rosenblatt Securities lowered their price objective on shares of Apple from $168.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, July 29th. Finally, Credit Suisse Group set a $166.00 price objective on shares of Apple in a research report on Friday, July 29th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $179.27.
Apple Price Performance
NASDAQ:AAPL opened at $169.24 on Thursday. The stock has a market cap of $2.72 trillion, a P/E ratio of 27.93, a PEG ratio of 2.14 and a beta of 1.23. Apple Inc. has a one year low of $129.04 and a one year high of $182.94. The company has a fifty day moving average price of $146.97 and a 200 day moving average price of $157.08. 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 released its 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 firm had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.30 EPS. Analysts anticipate that Apple Inc. will post 6.1 earnings per share for the current year.
Apple declared that its Board of Directors has initiated a share repurchase plan on Thursday, April 28th that allows the company to repurchase $90.00 billion in shares. This repurchase authorization allows the iPhone maker to reacquire up to 3.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
Apple Dividend Announcement
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 paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.54%. The ex-dividend date is Friday, August 5th. Apple’s payout ratio is currently 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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