Jeppson Wealth Management LLC trimmed its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.2% in the first quarter, HoldingsChannel reports. The firm owned 100,076 shares of the iPhone maker’s stock after selling 154 shares during the quarter. Apple accounts for about 8.2% of Jeppson Wealth Management LLC’s holdings, making the stock its 2nd largest holding. Jeppson Wealth Management LLC’s holdings in Apple were worth $17,474,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in AAPL. Norges Bank purchased a new stake in Apple in the 4th quarter worth approximately $25,228,507,000. State Street Corp lifted its position in Apple by 1.8% during the fourth quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock valued at $112,422,274,000 after purchasing an additional 10,951,705 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Apple in the 4th quarter worth approximately $1,461,735,000. Capital Research Global Investors increased its holdings in shares of Apple by 38.1% in the 4th quarter. Capital Research Global Investors now owns 29,549,427 shares of the iPhone maker’s stock worth $5,247,094,000 after buying an additional 8,154,171 shares during the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of Apple by 41.8% during the 4th 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. 57.98% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the company. Piper Sandler lowered their price target on Apple from $200.00 to $195.00 in a research report on Friday, April 29th. UBS Group set a $185.00 price objective on Apple in a report on Thursday, July 21st. Itaú Unibanco assumed coverage on Apple in a report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price objective for the company. Bank of America cut their price objective on Apple from $200.00 to $185.00 in a report on Tuesday, July 26th. Finally, Raymond James cut their price objective on Apple from $190.00 to $185.00 and set a “maintains” rating for the company in a report on Friday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $179.04.
Insider Activity at Apple
In related news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the completion of the transaction, the senior vice president now owns 452,334 shares of the company’s stock, valued at approximately $73,151,454.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.06% of the stock is owned by corporate insiders.
Apple Stock Up 3.3 %
Shares of NASDAQ:AAPL opened at $162.51 on Monday. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94. The firm has a market capitalization of $2.63 trillion, a P/E ratio of 26.38, a P/E/G ratio of 1.97 and a beta of 1.19. The stock has a 50 day moving average price of $144.31 and a 200-day moving average price of $157.20. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.88 and a current ratio of 0.93.
Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. Apple had a return on equity of 152.88% and a net margin of 26.41%. The company had revenue of $82.96 billion during the quarter, compared to analyst estimates of $82.97 billion. During the same quarter last year, the company earned $1.30 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, equities research analysts anticipate that Apple Inc. will post 6.09 EPS for the current fiscal year.
Apple Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Monday, August 8th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Friday, August 5th. Apple’s dividend payout ratio (DPR) is presently 14.94%.
Apple announced that its board has approved a share buyback program 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 programs are generally an indication that the company’s management believes its shares are undervalued.
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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