Levin Capital Strategies L.P. trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 305,722 shares of the iPhone maker’s stock after selling 649 shares during the quarter. Apple accounts for approximately 5.1% of Levin Capital Strategies L.P.’s portfolio, making the stock its biggest position. Levin Capital Strategies L.P.’s holdings in Apple were worth $53,382,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of AAPL. Daniels&Tansey LLP grew its holdings in Apple by 1.6% during the fourth quarter. Daniels&Tansey LLP now owns 3,858 shares of the iPhone maker’s stock worth $685,000 after acquiring an additional 60 shares during the period. Donald L. Hagan LLC boosted its position in Apple by 0.3% during the first quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock worth $3,181,000 after purchasing an additional 61 shares in the last quarter. Goodwin Daniel L boosted its position 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 purchasing an additional 62 shares in the last quarter. Opus Capital Group LLC lifted its position in shares of Apple by 0.3% in the first quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock valued at $3,332,000 after acquiring an additional 63 shares in the last quarter. Finally, Norwood Financial Corp lifted its position 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 acquiring an additional 65 shares in the last quarter. 57.62% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Apple
In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction dated 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 transaction, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.06% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on the company. Fundamental Research set a $177.07 target price on Apple and gave the stock a “buy” rating in a research report on Thursday, August 4th. JPMorgan Chase & Co. set a $200.00 target price on Apple in a research note on Monday, July 25th. Deutsche Bank Aktiengesellschaft set a $175.00 price target on Apple in a report on Monday, August 1st. set a $175.00 price target on Apple in a report on Friday, July 29th. Finally, Rosenblatt Securities reduced their target price on Apple from $168.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, July 29th. Two research 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.27.
Apple Trading Up 0.6 %
Shares of NASDAQ:AAPL opened at $173.19 on Tuesday. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94. The company has a market capitalization of $2.78 trillion, a P/E ratio of 28.58, a price-to-earnings-growth ratio of 2.23 and a beta of 1.23. The company has a 50-day simple moving average of $148.80 and a 200 day simple moving average of $157.29. 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 issued its 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. The business had revenue of $82.96 billion during the quarter, compared to the consensus estimate of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. Apple’s revenue was up 1.9% on a year-over-year basis. During the same period last year, the business posted $1.30 EPS. Sell-side analysts forecast that Apple Inc. will post 6.1 earnings per share for the current year.
Apple declared that its Board of Directors has approved a stock buyback program on Thursday, April 28th that allows the company to buyback $90.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to purchase up to 3.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.
Apple Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.92 annualized dividend and a yield of 0.53%. Apple’s dividend payout ratio is currently 15.18%.
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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