Montag A & Associates Inc. lessened its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 356,118 shares of the iPhone maker’s stock after selling 207 shares during the period. Apple makes up 3.3% of Montag A & Associates Inc.’s holdings, making the stock its 4th largest position. Montag A & Associates Inc.’s holdings in Apple were worth $62,182,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of AAPL. Daniels&Tansey LLP lifted its holdings in Apple by 1.6% in the 4th 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 last quarter. Donald L. Hagan LLC lifted its stake in Apple by 0.3% during the first quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock valued at $3,181,000 after purchasing an additional 61 shares during the last quarter. Goodwin Daniel L boosted its holdings in Apple by 0.5% during the first quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock worth $2,230,000 after buying an additional 62 shares in the last quarter. Opus Capital Group LLC grew 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 worth $3,332,000 after buying an additional 63 shares during the last quarter. Finally, Norwood Financial Corp increased its holdings in shares of 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.
Analyst Ratings Changes
AAPL has been the topic of a number of recent research reports. Itaú Unibanco began coverage on Apple in a report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 target price on the stock. UBS Group set a $185.00 price objective on Apple in a report on Thursday, July 21st. Credit Suisse Group set a $166.00 target price on shares of Apple in a report on Friday, July 29th. Wells Fargo & Company cut their price target on shares of Apple from $205.00 to $185.00 and set an “overweight” rating on the stock in a report on Wednesday, July 20th. Finally, JPMorgan Chase & Co. set a $200.00 price objective on shares of Apple in a research report on Monday, July 25th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $179.27.
Apple Stock Performance
Shares of AAPL opened at $172.10 on Friday. The company has a market capitalization of $2.77 trillion, a PE ratio of 28.40, a price-to-earnings-growth ratio of 2.18 and a beta of 1.23. 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 Inc. has a one year low of $129.04 and a one year high of $182.94. The company’s fifty day moving average price is $148.26 and its 200 day moving average price is $157.30.
Apple (NASDAQ:AAPL – Get Rating) last issued its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $82.97 billion. During the same period last year, the business posted $1.30 earnings per share. The firm’s revenue was up 1.9% compared to the same quarter last year. As a group, analysts expect 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 was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.53%. The ex-dividend date was Friday, August 5th. Apple’s dividend payout ratio is currently 15.18%.
Apple declared 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 reacquire up to 3.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
Insider Transactions at Apple
In other news, SVP Katherine L. Adams sold 25,000 shares of the firm’s 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 sale, the senior vice president now owns 427,334 shares in the company, valued at $70,411,823.18. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.06% of the company’s stock.
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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