Riverview Trust Co boosted its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 28.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 47,184 shares of the iPhone maker’s stock after acquiring an additional 10,484 shares during the period. Apple comprises approximately 6.1% of Riverview Trust Co’s holdings, making the stock its 3rd biggest holding. Riverview Trust Co’s holdings in Apple were worth $8,239,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Daniels&Tansey LLP grew its position in shares of Apple by 1.6% during the 4th quarter. Daniels&Tansey LLP now owns 3,858 shares of the iPhone maker’s stock valued at $685,000 after buying an additional 60 shares during the last quarter. Donald L. Hagan LLC boosted its stake in Apple by 0.3% during the 1st quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock valued at $3,181,000 after purchasing an additional 61 shares during the period. Hanlon Investment Management Inc. boosted its stake in Apple by 0.7% during the 4th quarter. Hanlon Investment Management Inc. now owns 10,124 shares of the iPhone maker’s stock valued at $1,798,000 after purchasing an additional 66 shares during the period. Investors Research Corp boosted its stake in Apple by 0.4% during the 1st quarter. Investors Research Corp now owns 16,117 shares of the iPhone maker’s stock valued at $2,814,000 after purchasing an additional 66 shares during the period. Finally, Financial Planning & Information Services Inc. boosted its stake in Apple by 1.0% during the 4th quarter. Financial Planning & Information Services Inc. now owns 6,837 shares of the iPhone maker’s stock valued at $1,214,000 after purchasing an additional 67 shares during the period. 57.98% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Apple
In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $161.72, for a total value of $4,043,000.00. Following the transaction, the senior vice president now owns 452,334 shares in the company, valued at approximately $73,151,454.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the transaction, the senior vice president now owns 452,334 shares in the company, valued at approximately $73,151,454.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Deirdre O’brien sold 8,000 shares of the stock in a transaction on Monday, April 18th. The stock was sold at an average price of $164.91, for a total transaction of $1,319,280.00. Following the transaction, the senior vice president now owns 136,290 shares in the company, valued at approximately $22,475,583.90. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have issued reports on AAPL. Piper Sandler reduced their target price on shares of Apple from $200.00 to $195.00 in a research note on Friday, April 29th. Loop Capital reduced their target price on shares of Apple from $210.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, May 25th. StockNews.com started coverage on shares of Apple in a research note on Thursday, March 31st. They set a “hold” rating for the company. The Goldman Sachs Group reduced their price target on shares of Apple from $157.00 to $130.00 and set a “neutral” rating for the company in a research note on Wednesday, July 6th. Finally, KeyCorp reduced their price target on shares of Apple from $191.00 to $173.00 and set an “overweight” rating for the company in a research note on Tuesday, July 12th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $183.49.
Apple Stock Up 1.1 %
Apple stock opened at $150.17 on Friday. The firm has a market cap of $2.43 trillion, a PE ratio of 24.38, a P/E/G ratio of 1.92 and a beta of 1.19. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.88 and a current ratio of 0.93. The firm’s 50 day moving average price is $142.54 and its two-hundred day moving average price is $158.83. Apple Inc. has a twelve month low of $129.04 and a twelve month high of $182.94.
Apple (NASDAQ:AAPL – Get Rating) last released its quarterly earnings data on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.09. The firm had revenue of $97.28 billion for the quarter, compared to analyst estimates of $93.99 billion. Apple had a net margin of 26.41% and a return on equity of 152.88%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.40 EPS. On average, research analysts predict that Apple Inc. will post 6.09 EPS for the current fiscal 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 reacquire up to 3.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
Apple Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 12th. Shareholders of record on Monday, May 9th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend was Friday, May 6th. This is a positive change from Apple’s previous quarterly dividend of $0.22. Apple’s dividend payout ratio is currently 14.94%.
Apple Company Profile
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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