Advisory Services & Investments LLC Takes $343,000 Position in Apple Inc. (NASDAQ:AAPL)

Advisory Services & Investments LLC bought a new stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,964 shares of the iPhone maker’s stock, valued at approximately $343,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AAPL. Cardinal Capital Management Inc. increased its holdings in Apple by 5,525.0% in the 1st 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 purchased a new stake in Apple in the 4th quarter worth $41,000. St. James Investment Advisors LLC purchased a new stake in Apple in the 4th quarter worth $57,000. Econ Financial Services Corp acquired a new stake in Apple during the 4th quarter worth $58,000. Finally, Emerson Wealth LLC boosted its stake 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 purchasing an additional 320 shares during the last quarter. Hedge funds and other institutional investors own 57.98% of the company’s stock.

Apple Stock Down 0.6 %

Shares of NASDAQ:AAPL opened at $161.51 on Tuesday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. The firm has a market capitalization of $2.61 trillion, a PE ratio of 26.65, a price-to-earnings-growth ratio of 2.11 and a beta of 1.23. The firm’s 50-day moving average is $144.68 and its two-hundred day moving average is $157.12. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94.

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 analysts’ consensus estimates of $1.14 by $0.06. Apple had a net margin of 25.71% and a return on equity of 152.97%. The firm had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. During the same period in the prior year, the firm earned $1.30 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. Analysts predict that Apple Inc. will post 6.08 EPS for the current year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Monday, August 8th will be paid a dividend of $0.23 per share. The ex-dividend date is Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.57%. Apple’s payout ratio is 15.18%.

Apple declared that its Board of Directors 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 typically a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

AAPL has been the topic of several recent research reports. Itau BBA Securities initiated coverage on shares of Apple in a research note on Tuesday, July 26th. They set an “underperform” rating and a $136.00 target price on the stock. Piper Sandler lowered their target price on shares of Apple from $200.00 to $195.00 in a research note on Friday, April 29th. Raymond James lowered their target price on shares of Apple from $190.00 to $185.00 and set a “maintains” rating on the stock in a research note on Friday. Barclays lifted their target price on shares of Apple from $166.00 to $169.00 and gave the stock a “maintains” rating in a research note on Friday. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $190.00 target price on shares of Apple in a research note on Wednesday, June 8th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.06% of the company’s stock.

Apple 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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