Rocky Mountain Advisers LLC increased its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 5.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,227 shares of the iPhone maker’s stock after purchasing an additional 301 shares during the period. Apple accounts for about 1.2% of Rocky Mountain Advisers LLC’s portfolio, making the stock its 23rd largest position. Rocky Mountain Advisers LLC’s holdings in Apple were worth $1,087,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Cardinal Capital Management Inc. raised its position in Apple by 5,525.0% during 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 purchased a new position in Apple during the 4th quarter worth approximately $41,000. St. James Investment Advisors LLC purchased a new position in Apple during the 4th quarter worth approximately $57,000. Econ Financial Services Corp purchased a new position in Apple during the 4th quarter worth approximately $58,000. Finally, Emerson Wealth LLC raised its position in Apple by 363.6% during the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after buying an additional 320 shares during the last quarter. 57.98% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms have issued reports on AAPL. Itau BBA Securities began coverage on shares of Apple in a research report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price target for the company. Credit Suisse Group set a $166.00 price target on shares of Apple in a research report on Friday. Loop Capital cut their target price on shares of Apple from $210.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, May 25th. Fundamental Research cut their target price on shares of Apple from $179.32 to $175.24 and set an “average” rating for the company in a report on Friday, May 6th. Finally, Morgan Stanley cut their target price on shares of Apple from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $179.04.
Insider Buying and Selling
Apple Trading Up 3.3 %
Shares of AAPL stock opened at $162.51 on Monday. The stock has a market cap of $2.63 trillion, a price-to-earnings ratio of 26.38, a PEG ratio of 1.97 and a beta of 1.19. Apple Inc. has a twelve month low of $129.04 and a twelve month high of $182.94. The company’s 50-day moving average price is $144.31 and its 200-day moving average price is $157.20. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 1.53.
Apple (NASDAQ:AAPL – Get Rating) last issued its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.06. The firm had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. Apple had a net margin of 26.41% and a return on equity of 152.88%. Apple’s revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.30 EPS. As a group, equities analysts predict that Apple Inc. will post 6.09 earnings per share for the current year.
Apple Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Shareholders of record on Monday, August 8th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 0.57%. Apple’s dividend payout ratio (DPR) is presently 14.94%.
Apple announced that its board has authorized a stock buyback plan on Thursday, April 28th that permits the company to repurchase $90.00 billion in shares. This repurchase authorization permits the iPhone maker to purchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
Apple Company Profile
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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