Golden Green Inc. raised its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 70,578 shares of the iPhone maker’s stock after purchasing an additional 604 shares during the period. Apple comprises 10.1% of Golden Green Inc.’s portfolio, making the stock its biggest position. Golden Green Inc.’s holdings in Apple were worth $12,324,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Moors & Cabot Inc. grew its stake in Apple by 4.2% in the third quarter. Moors & Cabot Inc. now owns 489,799 shares of the iPhone maker’s stock valued at $69,303,000 after purchasing an additional 19,689 shares during the last quarter. Edge Wealth Management LLC raised its position in shares of Apple by 2.2% in the 4th quarter. Edge Wealth Management LLC now owns 226,589 shares of the iPhone maker’s stock valued at $40,235,000 after purchasing an additional 4,924 shares during the last quarter. Ballast Inc. boosted its stake in Apple by 0.8% in the 4th quarter. Ballast Inc. now owns 60,525 shares of the iPhone maker’s stock worth $10,747,000 after purchasing an additional 474 shares in the last quarter. JGP Wealth Management LLC boosted its stake in Apple by 2.5% in the 4th quarter. JGP Wealth Management LLC now owns 193,099 shares of the iPhone maker’s stock worth $33,777,000 after purchasing an additional 4,622 shares in the last quarter. Finally, Ritholtz Wealth Management grew its position in Apple by 20.9% during the 4th quarter. Ritholtz Wealth Management now owns 324,817 shares of the iPhone maker’s stock worth $57,678,000 after purchasing an additional 56,239 shares during the last quarter. Hedge funds and other institutional investors own 57.98% of the company’s stock.
AAPL has been the topic of a number of research analyst reports. Loop Capital dropped their price objective on shares of Apple from $210.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, May 25th. The Goldman Sachs Group cut their price objective on Apple from $157.00 to $130.00 and set a “neutral” rating on the stock in a report on Wednesday. Rosenblatt Securities decreased their price objective on shares of Apple from $184.00 to $168.00 and set a “neutral” rating for the company in a research note on Monday, May 2nd. Credit Suisse Group set a $169.00 price objective on shares of Apple in a research note on Friday, April 29th. Finally, Barclays set a $167.00 target price on shares of Apple in a research report on Tuesday, June 7th. Nine research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $184.83.
Shares of AAPL stock opened at $146.35 on Friday. 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 has a market cap of $2.37 trillion, a P/E ratio of 23.76, a P/E/G ratio of 1.86 and a beta of 1.19. The firm’s 50 day moving average price is $144.01 and its 200-day moving average price is $160.21. Apple Inc. has a one year low of $129.04 and a one year high of $182.94.
Apple (NASDAQ:AAPL – Get Rating) last released its quarterly earnings results on Thursday, April 28th. The iPhone maker reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.09. Apple had a return on equity of 152.88% and a net margin of 26.41%. The company had revenue of $97.28 billion for the quarter, compared to analysts’ expectations of $93.99 billion. During the same period in the prior year, the firm earned $1.40 earnings per share. The firm’s revenue was up 8.6% compared to the same quarter last year. As a group, research analysts predict that Apple Inc. will post 6.1 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 12th. Investors of record on Monday, May 9th were issued a $0.23 dividend. The ex-dividend date was Friday, May 6th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.63%. This is a boost from Apple’s previous quarterly dividend of $0.22. Apple’s payout ratio is 14.94%.
Apple announced that its Board of Directors has approved a stock buyback program on Thursday, April 28th that authorizes the company to buyback $90.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $161.72, for a total value of $4,043,000.00. Following the sale, the senior vice president now directly owns 452,334 shares in the company, valued at $73,151,454.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Deirdre O’brien sold 8,000 shares of Apple stock in a transaction dated Monday, April 18th. The stock was sold at an average price of $164.91, for a total value of $1,319,280.00. Following the sale, the senior vice president now directly owns 136,290 shares of the company’s stock, valued at $22,475,583.90. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.
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.
Further Reading
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