Thomas Story & Son LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,846 shares of the iPhone maker’s stock after selling 1,525 shares during the period. Apple comprises approximately 5.5% of Thomas Story & Son LLC’s portfolio, making the stock its 3rd biggest holding. Thomas Story & Son LLC’s holdings in Apple were worth $13,942,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Cardinal Capital Management Inc. raised its holdings in 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 buying an additional 221 shares in the last quarter. Shore Point Advisors LLC bought a new position in Apple during the fourth quarter valued at about $41,000. St. James Investment Advisors LLC bought a new position in Apple during the fourth quarter valued at about $57,000. Emerson Wealth LLC raised its holdings in 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 buying an additional 320 shares in the last quarter. Finally, Econ Financial Services Corp raised its holdings in 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 buying an additional 95 shares in the last quarter. 57.98% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, SVP Katherine L. Adams sold 25,000 shares of the business’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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.06% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
AAPL has been the topic of a number of recent analyst reports. Bank of America dropped their price objective on Apple from $200.00 to $185.00 in a research note on Tuesday, July 26th. Itau BBA Securities initiated coverage on Apple in a research note on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price objective on the stock. Sanford C. Bernstein set a $170.00 price objective on Apple in a research note on Monday, May 2nd. Piper Sandler dropped their price objective on Apple from $200.00 to $195.00 in a research note on Friday, April 29th. Finally, Credit Suisse Group set a $166.00 price objective on Apple in a research note on Friday, July 29th. Two 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 given a strong buy rating to the company. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average target price of $179.27.
Apple Stock Down 0.4 %
Shares of AAPL opened at $168.49 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. The business’s 50 day simple moving average is $147.38 and its 200-day simple moving average is $157.16. Apple Inc. has a one year low of $129.04 and a one year high of $182.94. The company has a market capitalization of $2.71 trillion, a P/E ratio of 27.80, a PEG ratio of 2.14 and a beta of 1.23.
Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.06. Apple had a net margin of 25.71% and a return on equity of 152.97%. The firm had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. During the same quarter in the previous year, the company posted $1.30 EPS. Apple’s revenue was up 1.9% on a year-over-year basis. As a group, sell-side analysts predict that Apple Inc. will post 6.1 EPS for the current fiscal year.
Apple declared that its Board of Directors has initiated a stock repurchase plan on Thursday, April 28th that permits the company to repurchase $90.00 billion in shares. This repurchase authorization permits the iPhone maker to buy up to 3.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.
Apple Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.55%. The ex-dividend date was Friday, August 5th. Apple’s dividend payout ratio (DPR) is presently 15.18%.
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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