Eagle Strategies LLC grew its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 6.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,721 shares of the iPhone maker’s stock after acquiring an additional 1,586 shares during the period. Apple comprises 1.8% of Eagle Strategies LLC’s investment portfolio, making the stock its 15th biggest position. Eagle Strategies LLC’s holdings in Apple were worth $4,491,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently modified their holdings of AAPL. Joseph Group Capital Management bought a new position in Apple during the fourth quarter worth about $1,631,000. Cardinal Capital Management Inc. boosted its holdings in Apple by 5,525.0% in the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after buying an additional 221 shares during the period. Shore Point Advisors LLC bought a new stake in Apple during the 4th quarter valued at $41,000. St. James Investment Advisors LLC purchased a new stake in shares of Apple during the fourth quarter worth $57,000. Finally, Emerson Wealth LLC boosted its holdings in shares of Apple by 363.6% in the first quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after acquiring an additional 320 shares during the period. Hedge funds and other institutional investors own 57.98% of the company’s stock.
Apple Stock Up 2.1 %
AAPL stock opened at $172.10 on Friday. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94. The company has a market capitalization of $2.77 trillion, a price-to-earnings ratio of 28.40, a price-to-earnings-growth ratio of 2.19 and a beta of 1.23. The business’s 50 day moving average price is $147.72 and its two-hundred day moving average price is $157.21. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86.
Apple (NASDAQ:AAPL – Get Rating) last issued its quarterly earnings results 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. The company had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.30 earnings per share. As a group, analysts forecast that Apple Inc. will post 6.1 earnings per share for the current fiscal year.
Apple declared that its Board of Directors has initiated a share buyback plan on Thursday, April 28th that authorizes the company to buyback $90.00 billion in shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.
Apple Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 0.53%. Apple’s dividend payout ratio (DPR) is currently 15.18%.
Insider Buying and Selling
In other news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the completion of the transaction, 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 is available through the SEC website. 0.06% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on AAPL shares. Itau BBA Securities initiated coverage on Apple in a report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price objective on the stock. Citigroup raised their price objective on shares of Apple from $175.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, July 29th. set a $175.00 price target on Apple in a research report on Friday, July 29th. Loop Capital lowered their target price on shares of Apple from $210.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, May 25th. Finally, Piper Sandler decreased their price target on shares of Apple from $200.00 to $195.00 in a report on Friday, April 29th. Two research 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $179.27.
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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