Apple Inc. (NASDAQ:AAPL) is Emfo LLC’s 5th Largest Position

Emfo LLC increased its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 2.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 19,573 shares of the iPhone maker’s stock after acquiring an additional 487 shares during the period. Apple comprises approximately 3.1% of Emfo LLC’s portfolio, making the stock its 5th biggest holding. Emfo LLC’s holdings in Apple were worth $3,418,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in AAPL. Cardinal Capital Management Inc. grew its holdings in Apple by 5,525.0% during the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock valued at $39,000 after buying an additional 221 shares in the last quarter. Shore Point Advisors LLC purchased a new position in Apple during the 4th quarter valued at approximately $41,000. St. James Investment Advisors LLC purchased a new position in Apple during the 4th quarter valued at approximately $57,000. Emerson Wealth LLC grew its holdings in Apple by 363.6% during the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock valued at $71,000 after buying an additional 320 shares in the last quarter. Finally, Econ Financial Services Corp grew its holdings in Apple by 29.1% during the 1st quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock valued at $74,000 after buying an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 57.62% of the company’s stock.

Insider Activity

In other news, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the completion of the transaction, 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 legal filing with the SEC, which is accessible through this link. In related news, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the completion of the transaction, the chief financial officer now owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction dated 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 transaction, 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. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several analyst reports. Morgan Stanley lowered their price objective on Apple from $185.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, July 20th. Barclays lowered their price objective on Apple from $167.00 to $166.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 13th. The Goldman Sachs Group set a $139.00 price objective on Apple in a research note on Friday, July 29th. Fundamental Research set a $177.07 price objective on Apple and gave the company a “buy” rating in a research note on Thursday, August 4th. Finally, JPMorgan Chase & Co. set a $200.00 price target on Apple in a research note on Monday. Two equities research 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 stock. According to data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $181.18.

Apple Stock Down 0.2 %

Shares of AAPL stock opened at $167.23 on Wednesday. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The stock’s fifty day moving average price is $152.54 and its 200 day moving average price is $157.29. 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 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 (NASDAQ:AAPLGet Rating) last announced its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. 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 previous year, the business earned $1.30 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, research analysts expect that Apple Inc. will post 6.1 earnings per share for the current fiscal year.

Apple declared that its Board of Directors has approved a share repurchase plan on Thursday, April 28th that permits the company to buyback $90.00 billion in shares. This buyback authorization permits the iPhone maker to buy up to 3.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were issued a $0.23 dividend. The ex-dividend date was Friday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 0.55%. Apple’s dividend payout ratio (DPR) is presently 15.18%.

About Apple

(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.

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