Curran Financial Partners LLC Raises Position in Apple Inc. (NASDAQ:AAPL)

Curran Financial Partners LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 73.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,164 shares of the iPhone maker’s stock after purchasing an additional 11,948 shares during the period. Apple accounts for 2.0% of Curran Financial Partners LLC’s investment portfolio, making the stock its 18th biggest holding. Curran Financial Partners LLC’s holdings in Apple were worth $4,918,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of AAPL. Cardinal Capital Management Inc. boosted 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 buying an additional 221 shares during the period. Shore Point Advisors LLC bought a new position in Apple in the 4th quarter valued at $41,000. St. James Investment Advisors LLC bought a new position in Apple in the 4th quarter valued at $57,000. Econ Financial Services Corp bought a new position in Apple in the 4th quarter valued at $58,000. Finally, Emerson Wealth LLC boosted its holdings in Apple by 363.6% in the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock valued at $71,000 after purchasing an additional 320 shares during the period. 57.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on AAPL. Itaú Unibanco began coverage on shares of Apple in a report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price target for the company. Barclays raised their price target on shares of Apple from $166.00 to $169.00 and gave the company a “maintains” rating in a report on Friday. Piper Sandler cut their price target on shares of Apple from $200.00 to $195.00 in a report on Friday, April 29th. Deutsche Bank Aktiengesellschaft set a $175.00 price objective on shares of Apple in a research report on Monday. Finally, The Goldman Sachs Group set a $139.00 price objective on shares of Apple in a research report on Friday. Two equities research 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.04.

Apple Stock Performance

Shares of AAPL stock opened at $161.51 on Tuesday. The stock has a fifty day moving average of $144.68 and a 200 day moving average of $157.12. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94. The firm has a market capitalization of $2.61 trillion, a price-to-earnings ratio of 26.65, a PEG ratio of 2.11 and a beta of 1.23. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63.

Apple (NASDAQ:AAPLGet Rating) last posted its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping the consensus estimate of $1.14 by $0.06. The firm had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the company posted $1.30 EPS. As a group, research analysts expect that Apple Inc. will post 6.08 earnings per share for the current year.

Apple Announces Dividend

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

Apple announced that its Board of Directors has authorized a share repurchase 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 shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction dated 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 owns 452,334 shares of the company’s stock, valued at approximately $73,151,454.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.06% of the company’s stock.

About Apple

(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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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