AlphaCore Capital LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 24.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,245 shares of the iPhone maker’s stock after purchasing an additional 6,181 shares during the period. Apple comprises about 2.1% of AlphaCore Capital LLC’s investment portfolio, making the stock its 11th biggest holding. AlphaCore Capital LLC’s holdings in Apple were worth $5,456,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of AAPL. Norges Bank bought a new position in shares of Apple during the fourth quarter worth about $25,228,507,000. State Street Corp lifted its holdings in Apple by 1.8% in the fourth quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after acquiring an additional 10,951,705 shares during the last quarter. Capital Research Global Investors lifted its holdings in Apple by 38.1% in the fourth quarter. Capital Research Global Investors now owns 29,549,427 shares of the iPhone maker’s stock worth $5,247,094,000 after acquiring an additional 8,154,171 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Apple by 114.9% in the first quarter. SG Americas Securities LLC now owns 959,506 shares of the iPhone maker’s stock worth $167,539,000 after acquiring an additional 7,386,473 shares during the last quarter. Finally, ProShare Advisors LLC lifted its holdings in Apple by 41.8% in the fourth quarter. ProShare Advisors LLC now owns 20,866,567 shares of the iPhone maker’s stock worth $3,705,275,000 after acquiring an additional 6,154,422 shares during the last quarter. Institutional investors own 57.62% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the stock. Bank of America cut their target price on shares of Apple from $200.00 to $185.00 in a report on Tuesday, July 26th. Oppenheimer reissued an “outperform” rating and issued a $190.00 target price on shares of Apple in a report on Wednesday, June 8th. Credit Suisse Group raised shares of Apple from a “neutral” rating to an “outperform” rating and set a $201.00 target price on the stock in a report on Tuesday, August 16th. Piper Sandler cut their target price on shares of Apple from $200.00 to $195.00 in a report on Friday, April 29th. Finally, Fundamental Research set a $177.07 price target on shares of Apple and gave the company a “buy” rating in a research note on Thursday, August 4th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $181.18.
Insider Buying and Selling
In related news, SVP Katherine L. Adams sold 25,000 shares of the firm’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 of the company’s stock, valued at approximately $70,411,823.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Apple news, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the completion of the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Katherine L. Adams sold 25,000 shares of Apple 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 sale, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.
Apple Trading Down 0.2 %
Apple stock opened at $167.23 on Wednesday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86. The firm has a market cap of $2.69 trillion, a price-to-earnings ratio of 27.60, a price-to-earnings-growth ratio of 2.22 and a beta of 1.23. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The firm’s 50 day moving average price is $152.54 and its two-hundred day moving average price is $157.29.
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, topping 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 during the quarter, compared to analyst estimates of $82.97 billion. During the same quarter last year, the business posted $1.30 EPS. The company’s revenue was up 1.9% on a year-over-year basis. On average, research analysts predict that Apple Inc. will post 6.1 EPS for the current fiscal year.
Apple Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s dividend payout ratio is 15.18%.
Apple announced that its Board of Directors has initiated a share repurchase plan on Thursday, April 28th that authorizes the company to buyback $90.00 billion in shares. This buyback authorization authorizes the iPhone maker to buy up to 3.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
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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