Resource Consulting Group Inc. lifted its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 175.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,513 shares of the iPhone maker’s stock after buying an additional 9,241 shares during the period. Apple comprises 0.9% of Resource Consulting Group Inc.’s holdings, making the stock its 6th largest holding. Resource Consulting Group Inc.’s holdings in Apple were worth $2,534,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Cardinal Capital Management Inc. increased its holdings in shares of Apple by 5,525.0% in the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after buying an additional 221 shares during the last quarter. Shore Point Advisors LLC bought a new stake in shares of Apple in the 4th quarter worth about $41,000. St. James Investment Advisors LLC bought a new stake in shares of Apple in the 4th quarter worth about $57,000. Econ Financial Services Corp bought a new stake in shares of Apple in the 4th quarter worth about $58,000. Finally, Castle Financial & Retirement Planning Associates Inc. bought a new position in Apple during the 4th quarter valued at about $116,000. Hedge funds and other institutional investors own 57.98% of the company’s stock.
AAPL has been the topic of several analyst reports. Deutsche Bank Rese… set a $210.00 price target on shares of Apple in a report on Friday, April 8th. JPMorgan Chase & Co. set a $200.00 price target on shares of Apple in a report on Friday, July 1st. Oppenheimer reiterated an “outperform” rating and set a $190.00 price target on shares of Apple in a report on Wednesday, June 8th. Piper Sandler cut their price target on shares of Apple from $200.00 to $195.00 in a report on Friday, April 29th. Finally, Credit Suisse Group set a $169.00 price target on shares of Apple in a report on Friday, April 29th. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $184.83.
NASDAQ:AAPL opened at $147.04 on Friday. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94. The firm has a 50 day moving average of $143.79 and a 200 day moving average of $159.92. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $2.38 trillion, a price-to-earnings ratio of 23.87, a PEG ratio of 1.92 and a beta of 1.19.
Apple (NASDAQ:AAPL – Get Rating) last posted its earnings results on Thursday, April 28th. The iPhone maker reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.09. Apple had a net margin of 26.41% and a return on equity of 152.88%. The company had revenue of $97.28 billion during the quarter, compared to analysts’ expectations of $93.99 billion. During the same quarter in the prior year, the company posted $1.40 earnings per share. Apple’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, analysts expect that Apple Inc. will post 6.1 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, May 12th. Shareholders of record on Monday, May 9th were paid a dividend of $0.23 per share. This is a positive change from Apple’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, May 6th. This represents a $0.92 dividend on an annualized basis and a yield of 0.63%. Apple’s dividend payout ratio is presently 14.94%.
Apple announced that its board has approved a stock buyback plan on Thursday, April 28th that permits the company to buyback $90.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to buy up to 3.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
In other Apple news, SVP Deirdre O’brien sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, April 18th. The shares were 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 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 disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.
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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