Balasa Dinverno & Foltz LLC Buys 4,830 Shares of Apple Inc. (NASDAQ:AAPL)

Balasa Dinverno & Foltz LLC increased its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 2.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 181,611 shares of the iPhone maker’s stock after purchasing an additional 4,830 shares during the quarter. Apple makes up about 2.1% of Balasa Dinverno & Foltz LLC’s portfolio, making the stock its 13th biggest position. Balasa Dinverno & Foltz LLC’s holdings in Apple were worth $31,711,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Elk River Wealth Management LLC grew its position in shares of Apple by 49.0% during the 1st quarter. Elk River Wealth Management LLC now owns 167,122 shares of the iPhone maker’s stock valued at $29,181,000 after acquiring an additional 54,989 shares during the period. Piscataqua Savings Bank increased its holdings in Apple by 1.5% in the 1st quarter. Piscataqua Savings Bank now owns 47,546 shares of the iPhone maker’s stock valued at $8,302,000 after purchasing an additional 684 shares during the last quarter. Fountainhead AM LLC grew its stake in shares of Apple by 11.6% in the fourth quarter. Fountainhead AM LLC now owns 45,544 shares of the iPhone maker’s stock worth $7,732,000 after acquiring an additional 4,738 shares in the last quarter. Primoris Wealth Advisors LLC acquired a new position in shares of Apple in the fourth quarter worth $4,282,000. Finally, Red Door Wealth Management LLC lifted its position in shares of Apple by 3.3% during the 1st quarter. Red Door Wealth Management LLC now owns 96,983 shares of the iPhone maker’s stock worth $16,934,000 after purchasing an additional 3,087 shares during the last quarter. Institutional investors own 57.98% of the company’s stock.

Apple Stock Down 0.8 %

Apple stock opened at $154.09 on Monday. Apple Inc. has a twelve month low of $129.04 and a twelve month high of $182.94. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 1.53. The stock has a 50 day moving average of $142.90 and a two-hundred day moving average of $157.81. The stock has a market capitalization of $2.49 trillion, a price-to-earnings ratio of 25.01, a PEG ratio of 2.00 and a beta of 1.19.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings data 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 firm 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 company earned $1.40 EPS. The firm’s revenue was up 8.6% on a year-over-year basis. As a group, research analysts expect that Apple Inc. will post 6.09 earnings per share for the current year.

Apple declared that its board has authorized a stock buyback plan 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 shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 12th. Investors of record on Monday, May 9th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.60%. 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 payout ratio is 14.94%.

Insiders Place Their Bets

In related news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction dated 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 sale, the senior vice president now directly owns 452,334 shares in the company, valued at $73,151,454.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Oppenheimer reiterated an “outperform” rating and set a $190.00 price target on shares of Apple in a research note on Wednesday, June 8th. Loop Capital cut their target price on shares of Apple from $210.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, May 25th. Piper Sandler lowered their price target on shares of Apple from $200.00 to $195.00 in a report on Friday, April 29th. Credit Suisse Group set a $169.00 price objective on shares of Apple in a report on Friday, April 29th. Finally, Rosenblatt Securities cut their price objective on shares of Apple from $184.00 to $168.00 and set a “neutral” rating on the stock in a research report on Monday, May 2nd. Nine 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. According to data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average target price of $182.73.

Apple Company Profile

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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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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