ML & R Wealth Management LLC boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,892 shares of the iPhone maker’s stock after acquiring an additional 267 shares during the quarter. Apple accounts for about 1.0% of ML & R Wealth Management LLC’s investment portfolio, making the stock its 11th largest holding. ML & R Wealth Management LLC’s holdings in Apple were worth $2,600,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Moors & Cabot Inc. lifted its holdings in shares of Apple by 4.2% during the 3rd quarter. Moors & Cabot Inc. now owns 489,799 shares of the iPhone maker’s stock valued at $69,303,000 after buying an additional 19,689 shares during the last quarter. Edge Wealth Management LLC lifted its holdings in shares of Apple by 2.2% during the 4th quarter. Edge Wealth Management LLC now owns 226,589 shares of the iPhone maker’s stock valued at $40,235,000 after buying an additional 4,924 shares during the last quarter. Strategic Equity Management lifted its holdings in shares of Apple by 7.7% during the 4th quarter. Strategic Equity Management now owns 8,108 shares of the iPhone maker’s stock valued at $1,440,000 after buying an additional 581 shares during the last quarter. Trilogy Capital Inc. lifted its holdings in shares of Apple by 0.6% during the 4th quarter. Trilogy Capital Inc. now owns 18,433 shares of the iPhone maker’s stock valued at $3,273,000 after buying an additional 101 shares during the last quarter. Finally, CMH Wealth Management LLC lifted its holdings in shares of Apple by 3.9% during the 4th quarter. CMH Wealth Management LLC now owns 125,859 shares of the iPhone maker’s stock valued at $22,349,000 after buying an additional 4,772 shares during the last quarter. Hedge funds and other institutional investors own 57.98% of the company’s stock.
In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, 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 filing with the SEC, which can be accessed through the SEC website. Also, SVP Deirdre O’brien sold 8,000 shares of the firm’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 value of $1,319,280.00. Following the completion of 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 company insiders.
Several equities research analysts have recently issued reports on the company. Loop Capital reduced their price target on Apple from $210.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, May 25th. Deutsche Bank Aktiengesellschaft reduced their target price on Apple from $200.00 to $175.00 in a report on Tuesday, June 14th. Fundamental Research reduced their target price on Apple from $179.32 to $175.24 and set an “average” rating for the company in a report on Friday, May 6th. Oppenheimer restated an “outperform” rating and issued a $190.00 target price on shares of Apple in a report on Wednesday, June 8th. Finally, Evercore ISI cut their price target on Apple from $210.00 to $180.00 and set an “outperform” rating for the company in a report on Tuesday, June 28th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.83.
NASDAQ:AAPL opened at $147.04 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 stock has a 50-day simple moving average of $143.79 and a 200 day simple moving average of $160.03. The company has a market cap of $2.38 trillion, a PE ratio of 23.87, a PEG ratio of 1.87 and a beta of 1.19. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94.
Apple (NASDAQ:AAPL – Get Rating) last posted 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. The firm had revenue of $97.28 billion during the quarter, compared to the consensus estimate of $93.99 billion. Apple had a return on equity of 152.88% and a net margin of 26.41%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company earned $1.40 earnings per share. On average, research analysts predict that Apple Inc. will post 6.1 earnings per share for the current fiscal year.
Apple announced that its board has initiated a share buyback plan on Thursday, April 28th that allows the company to repurchase $90.00 billion in shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
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 $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.63%. This is an increase from Apple’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, May 6th. Apple’s dividend payout ratio (DPR) is currently 14.94%.
Apple Profile (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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