Winning Points Advisors LLC Raises Holdings in Apple Inc. (NASDAQ:AAPL)

Winning Points Advisors LLC grew its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 278.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 191,865 shares of the iPhone maker’s stock after purchasing an additional 141,218 shares during the period. Apple makes up approximately 26.0% of Winning Points Advisors LLC’s investment portfolio, making the stock its largest holding. Winning Points Advisors LLC’s holdings in Apple were worth $33,512,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of AAPL. Cardinal Capital Management Inc. raised its holdings in Apple by 5,525.0% during the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after acquiring an additional 221 shares in the last quarter. Shore Point Advisors LLC bought a new stake in Apple during the fourth quarter worth about $41,000. St. James Investment Advisors LLC bought a new stake in Apple during the fourth quarter worth about $57,000. Econ Financial Services Corp bought a new stake in Apple during the fourth quarter worth about $58,000. Finally, Emerson Wealth LLC raised its holdings in Apple by 363.6% during the first quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after acquiring an additional 320 shares in the last quarter. 57.98% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction 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 approximately $73,151,454.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on AAPL shares. The Goldman Sachs Group set a $139.00 target price on Apple in a report on Friday. Citigroup upped their target price on Apple from $175.00 to $185.00 and gave the stock a “buy” rating in a report on Friday. Fundamental Research lowered their price target on Apple from $179.32 to $175.24 and set an “average” rating on the stock in a research report on Friday, May 6th. Evercore ISI boosted their price target on Apple from $180.00 to $185.00 in a research report on Friday. Finally, KeyCorp lowered their price target on Apple from $191.00 to $173.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 12th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $179.04.

Apple Stock Up 3.3 %

NASDAQ AAPL opened at $162.51 on Monday. The business has a fifty day moving average price of $144.31 and a two-hundred day moving average price of $157.20. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.93 and a quick ratio of 0.88. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94. The stock has a market capitalization of $2.63 trillion, a PE ratio of 26.38, a PEG ratio of 1.97 and a beta of 1.19.

Apple (NASDAQ:AAPLGet Rating) last released its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.06. Apple had a return on equity of 152.88% and a net margin of 26.41%. The firm had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. During the same period in the prior year, the company earned $1.30 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis. Equities analysts expect that Apple Inc. will post 6.09 earnings per share for the current fiscal year.

Apple declared that its Board of Directors has approved a share 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 stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Apple Dividend Announcement

The firm also recently announced 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. This represents a $0.92 annualized dividend and a yield of 0.57%. The ex-dividend date is Friday, August 5th. Apple’s payout ratio is presently 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.

See Also

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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