Apple Inc. (NASDAQ:AAPL) Holdings Cut by Northstar Group Inc.

Northstar Group Inc. trimmed its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 171,939 shares of the iPhone maker’s stock after selling 1,081 shares during the period. Apple accounts for 7.2% of Northstar Group Inc.’s holdings, making the stock its 2nd biggest position. Northstar Group Inc.’s holdings in Apple were worth $30,023,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Touchstone Capital Inc. purchased a new position in Apple during the first quarter valued at $219,000. HCR Wealth Advisors lifted its stake in shares of Apple by 0.3% in the first quarter. HCR Wealth Advisors now owns 598,758 shares of the iPhone maker’s stock worth $104,549,000 after buying an additional 1,563 shares in the last quarter. Taika Capital LP lifted its stake in shares of Apple by 48.3% in the first quarter. Taika Capital LP now owns 55,441 shares of the iPhone maker’s stock worth $9,681,000 after buying an additional 18,061 shares in the last quarter. Ameritas Advisory Services LLC lifted its stake in shares of Apple by 0.9% in the first quarter. Ameritas Advisory Services LLC now owns 438,090 shares of the iPhone maker’s stock worth $76,495,000 after buying an additional 4,109 shares in the last quarter. Finally, Blue Chip Partners Inc. lifted its stake in shares of Apple by 2.2% in the first quarter. Blue Chip Partners Inc. now owns 199,065 shares of the iPhone maker’s stock worth $34,759,000 after buying an additional 4,252 shares in the last quarter. 57.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. UBS Group set a $185.00 price target on shares of Apple in a research note on Thursday, July 21st. Evercore ISI raised their price target on shares of Apple from $180.00 to $185.00 in a research note on Friday, July 29th. Credit Suisse Group raised shares of Apple from a “neutral” rating to an “outperform” rating and set a $201.00 price target on the stock in a research note on Tuesday, August 16th. Wells Fargo & Company decreased their price target on shares of Apple from $205.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 20th. Finally, Fundamental Research set a $177.07 target price on shares of Apple and gave the stock a “buy” rating in a research note on Thursday, August 4th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $181.18.

Apple Trading Up 0.2 %

Shares of AAPL stock opened at $167.53 on Thursday. 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 stock has a market capitalization of $2.69 trillion, a P/E ratio of 27.65, a price-to-earnings-growth ratio of 2.17 and a beta of 1.23. The company has a 50 day moving average price of $153.18 and a 200 day moving average price of $157.36. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last announced 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 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 analysts’ expectations of $82.97 billion. During the same quarter in the previous year, the business posted $1.30 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. Equities research analysts predict that Apple Inc. will post 6.1 EPS for the current fiscal year.

Apple Announces Dividend

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

Apple announced that its Board of Directors has authorized a stock repurchase program 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 stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other Apple news, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 110,673 shares in the company, valued at approximately $19,362,241.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the business’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 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 approximately $70,411,823.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the transaction, the chief financial officer now owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

Apple Company Profile

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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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