Adams Wealth Management decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 20.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,796 shares of the iPhone maker’s stock after selling 1,965 shares during the quarter. Apple comprises about 0.4% of Adams Wealth Management’s investment portfolio, making the stock its 17th biggest position. Adams Wealth Management’s holdings in Apple were worth $1,361,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Norges Bank purchased a new stake in Apple in the fourth quarter valued at approximately $25,228,507,000. State Street Corp boosted its holdings in shares of Apple by 1.8% in the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock valued at $112,422,274,000 after purchasing an additional 10,951,705 shares during the last quarter. Miracle Mile Advisors LLC grew its stake in shares of Apple by 1,841.6% during the 4th quarter. Miracle Mile Advisors LLC now owns 8,755,560 shares of the iPhone maker’s stock valued at $78,548,000 after buying an additional 8,304,604 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Apple during the 4th quarter worth $1,461,735,000. Finally, Capital Research Global Investors raised its position in shares of Apple by 38.1% in the 4th quarter. Capital Research Global Investors now owns 29,549,427 shares of the iPhone maker’s stock worth $5,247,094,000 after buying an additional 8,154,171 shares during the period. 57.98% of the stock is owned by institutional investors and hedge funds.
Shares of Apple stock opened at $141.66 on Monday. The business has a 50-day moving average price of $148.09 and a 200 day moving average price of $162.18. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94. The firm has a market cap of $2.29 trillion, a P/E ratio of 23.00, a P/E/G ratio of 1.86 and a beta of 1.20. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 1.53.
Apple (NASDAQ:AAPL – Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share for the quarter, beating 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 business had revenue of $97.28 billion during the quarter, compared to the consensus estimate of $93.99 billion. During the same period in the previous year, the business earned $1.40 EPS. The business’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities research analysts anticipate that Apple Inc. will post 6.11 earnings per share for the current year.
Apple declared that its board has approved a stock repurchase program 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 stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 12th. Shareholders of record on Monday, May 9th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.65%. This is a boost from Apple’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, May 6th. Apple’s dividend payout ratio is 14.94%.
In related news, COO Jeffrey E. Williams sold 105,901 shares of the firm’s stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $177.75, for a total value of $18,823,902.75. Following the sale, the chief operating officer now owns 489,662 shares of the company’s stock, valued at approximately $87,037,420.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Katherine L. Adams sold 25,000 shares of the business’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 of the company’s stock, valued at approximately $73,151,454.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 168,099 shares of company stock worth $29,376,711. Insiders own 0.06% of the company’s stock.
Several brokerages have commented on AAPL. Fundamental Research dropped their price target on Apple from $179.32 to $175.24 and set an “average” rating for the company in a research note on Friday, May 6th. JPMorgan Chase & Co. set a $200.00 target price on shares of Apple in a research report on Monday, June 20th. Oppenheimer reaffirmed an “outperform” rating and set a $190.00 price target on shares of Apple in a research report on Wednesday, June 8th. UBS Group set a $185.00 target price on shares of Apple in a research note on Tuesday, June 21st. Finally, Evercore ISI initiated coverage on shares of Apple in a research report on Friday, March 25th. They set a “buy” rating and a $210.00 price target for the company. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $186.55.
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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