Alta Wealth Advisors LLC Has $5.61 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Alta Wealth Advisors LLC boosted its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 126.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,138 shares of the iPhone maker’s stock after purchasing an additional 17,954 shares during the quarter. Apple makes up 3.3% of Alta Wealth Advisors LLC’s investment portfolio, making the stock its 3rd largest position. Alta Wealth Advisors LLC’s holdings in Apple were worth $5,612,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Joseph Group Capital Management bought a new stake in shares of Apple during the 4th quarter valued at about $1,631,000. Cardinal Capital Management Inc. raised its holdings in shares of Apple by 5,525.0% during the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock valued at $39,000 after buying an additional 221 shares in the last quarter. Shore Point Advisors LLC purchased a new position in shares of Apple during the 4th quarter valued at about $41,000. St. James Investment Advisors LLC purchased a new position in shares of Apple during the 4th quarter valued at about $57,000. Finally, Emerson Wealth LLC raised its holdings in shares of Apple by 363.6% during the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock valued at $71,000 after buying an additional 320 shares in the last quarter. Institutional investors own 57.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AAPL. Barclays raised their price objective on Apple from $166.00 to $169.00 and gave the company a “maintains” rating in a report on Friday, July 29th. UBS Group set a $185.00 price target on Apple in a research note on Thursday, July 21st. Fundamental Research decreased their price target on Apple from $179.32 to $175.24 and set an “average” rating on the stock in a research note on Friday, May 6th. Citigroup lifted their price target on Apple from $175.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Finally, Bank of America decreased their price target on Apple from $200.00 to $185.00 in a research note on Tuesday, July 26th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $179.16.

Apple Stock Down 0.9 %

Apple stock opened at $160.01 on Wednesday. The stock has a market cap of $2.59 trillion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 2.11 and a beta of 1.23. 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 Inc. has a one year low of $129.04 and a one year high of $182.94. The stock has a fifty day moving average of $145.07 and a 200 day moving average of $157.14.

Apple (NASDAQ:AAPLGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. The company had revenue of $82.96 billion during 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%. Apple’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.30 earnings per share. As a group, sell-side analysts predict that Apple Inc. will post 6.08 EPS for the current year.

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

Apple Dividend Announcement

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

Apple Company 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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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