Apple Inc. (NASDAQ:AAPL) Shares Bought by Rocky Mountain Advisers LLC

Rocky Mountain Advisers LLC increased its stake in Apple Inc. (NASDAQ:AAPLGet 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

In related news, SVP Katherine L. Adams sold 25,000 shares of the company’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 of the company’s stock, valued at $73,151,454.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.06% of the company’s stock.

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:AAPLGet 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

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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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