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Gables Capital Management Inc. Decreases Stock Holdings in Apple Inc. (NASDAQ:AAPL)
Analysts Set New Price Targets
Apple Stock Up 2.1 %
Apple Announces Dividend
Insider Buying and Selling
Gables Capital Management Inc. cut its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,101 shares of the iPhone maker's stock after selling 855 shares during the period. Apple accounts for about 7.7% of Gables Capital Management Inc.'s investment portfolio, making the stock its biggest position. Gables Capital Management Inc.'s holdings in Apple were worth $12,240,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently modified their holdings of AAPL. Ocean Capital Management LLC increased its holdings in shares of Apple by 1.9% in the first quarter. Ocean Capital Management LLC now owns 254,010 shares of the iPhone maker's stock valued at $44,975,000 after purchasing an additional 4,758 shares in the last quarter. Integral Investment Advisors Inc. boosted its stake in shares of Apple by 71.8% in the 1st quarter. Integral Investment Advisors Inc. now owns 23,038 shares of the iPhone maker's stock valued at $4,023,000 after purchasing an additional 9,629 shares during the last quarter. Personal CFO Solutions LLC grew its position in shares of Apple by 3.8% during the 1st quarter. Personal CFO Solutions LLC now owns 83,096 shares of the iPhone maker's stock worth $14,509,000 after buying an additional 3,067 shares during the period. Lloyd Advisory Services LLC. raised its stake in shares of Apple by 321.6% during the first quarter. Lloyd Advisory Services LLC. now owns 3,149 shares of the iPhone maker's stock worth $550,000 after buying an additional 2,402 shares during the last quarter. Finally, MBL Wealth LLC acquired a new position in Apple in the first quarter valued at approximately $6,616,000. 57.98% of the stock is currently owned by institutional investors and hedge funds.
AAPL has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft set a $175.00 target price on shares of Apple in a report on Monday, August 1st. JPMorgan Chase & Co. set a $200.00 target price on Apple in a report on Monday, July 25th. Morgan Stanley lowered their price target on Apple from $185.00 to $180.00 and set an "overweight" rating for the company in a research note on Wednesday, July 20th. Bank of America reduced their price objective on shares of Apple from $200.00 to $185.00 in a research note on Tuesday, July 26th. Finally, UBS Group set a $185.00 target price on shares of Apple in a report on Thursday, July 21st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $179.27.
Apple Inc. (NASDAQ:AAPL) is Franklin Street Advisors Inc. NC's Largest Position
Shares of AAPL stock opened at $172.10 on Friday. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94. The stock has a market cap of $2.77 trillion, a price-to-earnings ratio of 28.40, a PEG ratio of 2.19 and a beta of 1.23. The firm's 50-day moving average is $147.72 and its 200-day moving average 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 released its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.06. The company had revenue of $82.96 billion during 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 business's revenue was up 1.9% on a year-over-year basis. During the same period last year, the firm posted $1.30 earnings per share. Sell-side analysts predict that Apple Inc. will post 6.1 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Friday, August 5th. Apple's dividend payout ratio is presently 15.18%.
Apple announced that its board has initiated a share buyback plan on Thursday, April 28th that allows the company to repurchase $90.00 billion in shares. This repurchase authorization allows the iPhone maker to buy up to 3.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.
In related news, SVP Katherine L. Adams sold 25,000 shares of the business's stock in a transaction 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 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 insiders.
(Get Rating)
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.
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL – Get Rating).
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