Ameritas Advisory Services LLC grew its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 438,090 shares of the iPhone maker’s stock after purchasing an additional 4,109 shares during the period. Apple makes up 2.8% of Ameritas Advisory Services LLC’s portfolio, making the stock its 2nd biggest holding. Ameritas Advisory Services LLC’s holdings in Apple were worth $76,495,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in AAPL. Cardinal Capital Management Inc. grew its position in shares of 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 purchasing an additional 221 shares in the last quarter. Shore Point Advisors LLC purchased a new position in Apple in the fourth quarter worth $41,000. St. James Investment Advisors LLC purchased a new position in Apple in the fourth quarter worth $57,000. Emerson Wealth LLC grew its position in Apple by 363.6% in the first quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after acquiring an additional 320 shares in the last quarter. Finally, Econ Financial Services Corp grew its position in Apple by 29.1% in the first quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock worth $74,000 after acquiring an additional 95 shares in the last quarter. 57.62% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
AAPL has been the subject of several research reports. Fundamental Research set a $177.07 target price on shares of Apple and gave the stock a “buy” rating in a research report on Thursday, August 4th. KeyCorp upped their target price on shares of Apple from $177.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, August 19th. Oppenheimer reissued an “outperform” rating and issued a $190.00 price target on shares of Apple in a research note on Wednesday, June 8th. Citigroup boosted their price target on shares of Apple from $175.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Finally, Morgan Stanley lowered their price target on shares of Apple from $185.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, July 20th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.18.
In other 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 $70,411,823.18. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Luca Maestri sold 96,735 shares of the firm’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 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 $19,362,241.35. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 transaction of $4,119,250.00. Following the completion of the sale, the senior vice president now directly owns 427,334 shares in the company, 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.
Apple Stock Performance
AAPL opened at $167.53 on Thursday. 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 firm has a fifty day moving average price of $153.18 and a 200 day moving average price of $157.36. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The stock has a market cap of $2.69 trillion, a P/E ratio of 27.65, a P/E/G ratio of 2.17 and a beta of 1.23.
Apple (NASDAQ:AAPL – Get Rating) last issued its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. The business had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.30 earnings per share. Equities research analysts anticipate that Apple Inc. will post 6.1 earnings per share for the current year.
Apple Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Friday, August 5th. Apple’s payout ratio is 15.18%.
Apple announced that its Board of Directors has authorized a stock buyback plan on Thursday, April 28th that permits the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to reacquire up to 3.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership 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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