Folger Nolan Fleming Douglas Capital Management Inc. Lowers Stake in Apple Inc. (NASDAQ:AAPL)

Folger Nolan Fleming Douglas Capital Management Inc. lowered its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 0.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 173,833 shares of the iPhone maker’s stock after selling 159 shares during the quarter. Apple accounts for about 3.4% of Folger Nolan Fleming Douglas Capital Management Inc.’s investment portfolio, making the stock its 6th biggest position. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Apple were worth $30,353,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AAPL. Joseph Group Capital Management bought a new stake in Apple during the fourth quarter worth about $1,631,000. Cardinal Capital Management Inc. grew its stake 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 buying an additional 221 shares during 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. Finally, Econ Financial Services Corp bought a new stake in shares of Apple during the fourth quarter valued at approximately $58,000. 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 firm’s stock in a transaction on Wednesday, May 4th. The shares were 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 owns 452,334 shares of the company’s stock, valued at $73,151,454.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. KeyCorp decreased their price target on shares of Apple from $191.00 to $173.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 12th. set a $175.00 price target on shares of Apple in a research note on Friday. UBS Group set a $185.00 price target on shares of Apple in a research note on Thursday, July 21st. Raymond James decreased their price target on shares of Apple from $190.00 to $185.00 and set a “maintains” rating on the stock in a research note on Friday. Finally, Itaú Unibanco assumed coverage on shares of Apple in a research note on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price target on the stock. Two research analysts have rated the stock with a sell rating, eight have given 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, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $179.04.

Apple Trading Down 0.6 %

Shares of NASDAQ:AAPL opened at $161.51 on Tuesday. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63. The company’s fifty day simple moving average is $144.68 and its 200 day simple moving average is $157.12. The firm has a market cap of $2.61 trillion, a price-to-earnings ratio of 26.65, a PEG ratio of 2.11 and a beta of 1.23.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 EPS 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 business had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. During the same period last year, the business posted $1.30 earnings per share. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, research analysts forecast that Apple Inc. will post 6.08 EPS for the current fiscal year.

Apple declared that its Board of Directors has approved a share repurchase plan on Thursday, April 28th that permits the company to repurchase $90.00 billion in shares. This repurchase authorization permits the iPhone maker to buy up to 3.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Apple Announces Dividend

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

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

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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