Leuthold Group LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 58,392 shares of the iPhone maker’s stock after selling 223 shares during the quarter. Apple accounts for approximately 1.3% of Leuthold Group LLC’s portfolio, making the stock its 16th largest holding. Leuthold Group LLC’s holdings in Apple were worth $10,196,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in AAPL. Joseph Group Capital Management purchased a new position in shares of Apple during the fourth quarter valued at approximately $1,631,000. Cardinal Capital Management Inc. lifted its stake in shares of Apple by 5,525.0% during the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after purchasing an additional 221 shares during the period. Shore Point Advisors LLC acquired a new stake in shares of Apple during the fourth quarter worth $41,000. St. James Investment Advisors LLC purchased a new stake in shares of Apple in the fourth quarter valued at $57,000. Finally, Emerson Wealth LLC increased its stake in Apple by 363.6% in the first quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock valued at $71,000 after purchasing an additional 320 shares during the last quarter. 57.62% of the stock is currently owned by institutional investors and hedge funds.
Apple Trading Down 2.3 %
NASDAQ AAPL opened at $167.57 on Tuesday. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94. 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 company has a market capitalization of $2.69 trillion, a price-to-earnings ratio of 27.65, a price-to-earnings-growth ratio of 2.22 and a beta of 1.23. The company’s fifty day moving average price is $151.85 and its two-hundred day moving average price is $157.22.
Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $82.97 billion. During the same period in the prior year, the firm posted $1.30 EPS. The firm’s revenue was up 1.9% compared to the same quarter last year. As a group, research analysts predict that Apple Inc. will post 6.1 earnings per share for the current fiscal year.
Apple declared that its board has initiated a share buyback program on Thursday, April 28th that allows the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
Apple Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were paid a dividend of $0.23 per share. The ex-dividend date was Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 0.55%. Apple’s dividend payout ratio (DPR) is 15.18%.
Insider Buying and Selling at Apple
In other Apple 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 transaction of $4,119,250.00. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Luca Maestri sold 96,735 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total value of $16,923,788.25. Following the transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at approximately $19,362,241.35. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The stock was 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 owns 427,334 shares in the company, valued at $70,411,823.18. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several analysts have commented on the company. Credit Suisse Group upgraded Apple from a “neutral” rating to an “outperform” rating and set a $201.00 price target for the company in a report on Tuesday, August 16th. Oppenheimer reaffirmed an “outperform” rating and set a $190.00 price target on shares of Apple in a research report on Wednesday, June 8th. Piper Sandler decreased their price target on shares of Apple from $200.00 to $195.00 in a report on Friday, April 29th. Fundamental Research set a $177.07 price objective on Apple and gave the stock a “buy” rating in a report on Thursday, August 4th. Finally, Itaú Unibanco started coverage on Apple in a report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $181.18.
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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