HHM Wealth Advisors LLC lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 45,773 shares of the iPhone maker’s stock after acquiring an additional 675 shares during the period. Apple accounts for approximately 1.9% of HHM Wealth Advisors LLC’s investment portfolio, making the stock its 9th biggest holding. HHM Wealth Advisors LLC’s holdings in Apple were worth $7,992,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in AAPL. Armstrong Henry H Associates Inc. increased its position in Apple by 1.0% during the first quarter. Armstrong Henry H Associates Inc. now owns 69,928 shares of the iPhone maker’s stock worth $12,210,000 after buying an additional 704 shares during the period. Financial Management Professionals Inc. increased its position in Apple by 2.8% during the first quarter. Financial Management Professionals Inc. now owns 29,213 shares of the iPhone maker’s stock worth $5,101,000 after buying an additional 791 shares during the period. Magnolia Wealth Management LLC increased its position in Apple by 7,800.0% during the first quarter. Magnolia Wealth Management LLC now owns 131,930 shares of the iPhone maker’s stock worth $22,185,000 after buying an additional 130,260 shares during the period. Mcdaniel Terry & Co. increased its position in Apple by 0.8% during the first quarter. Mcdaniel Terry & Co. now owns 365,659 shares of the iPhone maker’s stock worth $63,848,000 after buying an additional 2,761 shares during the period. Finally, Ninety One SA PTY Ltd increased its position in Apple by 21.4% during the first quarter. Ninety One SA PTY Ltd now owns 41,074 shares of the iPhone maker’s stock worth $7,268,000 after buying an additional 7,243 shares during the period. Institutional investors and hedge funds own 57.98% of the company’s stock.
Analyst Ratings Changes
Several research analysts have commented on the company. JPMorgan Chase & Co. set a $200.00 price target on Apple in a research report on Monday, July 25th. Rosenblatt Securities lowered their target price on Apple from $168.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday. The Goldman Sachs Group set a $139.00 target price on Apple in a research note on Friday. Fundamental Research lowered their target price on Apple from $179.32 to $175.24 and set an “average” rating on the stock in a research note on Friday, May 6th. Finally, Credit Suisse Group set a $166.00 target price on Apple in a research note on Friday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $179.04.
Insider Transactions at Apple
Apple Stock Performance
Shares of AAPL stock opened at $161.51 on Tuesday. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The stock has a market cap of $2.61 trillion, a PE ratio of 26.65, a P/E/G ratio of 2.11 and a beta of 1.23. The stock has a fifty day moving average price of $144.68 and a 200 day moving average price of $157.12. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86.
Apple (NASDAQ:AAPL – Get Rating) last released its quarterly 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 return on equity of 152.97% and a net margin of 25.71%. The company had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. During the same period in the previous year, the firm posted $1.30 earnings per share. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. Sell-side analysts forecast that Apple Inc. will post 6.08 earnings per share for the current fiscal year.
Apple Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Monday, August 8th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.57%. Apple’s dividend payout ratio (DPR) is 15.18%.
Apple declared that its board has approved a stock 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 purchase up to 3.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.
Apple Company Profile
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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