Lee Danner & Bass Inc. lessened its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 343,928 shares of the iPhone maker’s stock after selling 8,942 shares during the quarter. Apple accounts for approximately 5.1% of Lee Danner & Bass Inc.’s holdings, making the stock its 4th biggest position. Lee Danner & Bass Inc.’s holdings in Apple were worth $60,053,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Elk River Wealth Management LLC raised its position in Apple by 49.0% in the 1st quarter. Elk River Wealth Management LLC now owns 167,122 shares of the iPhone maker’s stock worth $29,181,000 after buying an additional 54,989 shares during the last quarter. Piscataqua Savings Bank raised its position in Apple by 1.5% in the 1st quarter. Piscataqua Savings Bank now owns 47,546 shares of the iPhone maker’s stock worth $8,302,000 after buying an additional 684 shares during the last quarter. Fountainhead AM LLC grew its stake in shares of Apple by 11.6% during the 4th quarter. Fountainhead AM LLC now owns 45,544 shares of the iPhone maker’s stock valued at $7,732,000 after purchasing an additional 4,738 shares during the period. Primoris Wealth Advisors LLC bought a new stake in shares of Apple during the 4th quarter valued at about $4,282,000. Finally, Red Door Wealth Management LLC grew its stake 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 valued at $16,934,000 after purchasing an additional 3,087 shares during the period. Hedge funds and other institutional investors own 57.98% of the company’s stock.
Insider Activity at Apple
In related 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 transaction of $4,043,000.00. Following the sale, the senior vice president now owns 452,334 shares in the company, valued at approximately $73,151,454.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Apple Stock Down 0.6 %
Shares of AAPL opened at $161.51 on Tuesday. The stock has a market capitalization of $2.61 trillion, a price-to-earnings ratio of 26.65, a price-to-earnings-growth ratio of 2.11 and a beta of 1.23. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The business’s 50 day simple moving average is $144.68 and its 200-day simple moving average is $157.12. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82.
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, topping the consensus estimate of $1.14 by $0.06. The business had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.30 EPS. As a group, equities analysts expect that Apple Inc. will post 6.08 earnings per share for the current fiscal year.
Apple announced that its board has authorized a stock buyback plan on Thursday, April 28th that authorizes the company to buyback $90.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
Apple Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Monday, August 8th will be issued a dividend of $0.23 per share. The ex-dividend date is Friday, August 5th. This represents a $0.92 annualized dividend and a yield of 0.57%. Apple’s payout ratio is presently 15.18%.
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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