Wealthpoint LLC lifted its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 5.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,478 shares of the iPhone maker’s stock after acquiring an additional 4,428 shares during the period. Apple accounts for 5.4% of Wealthpoint LLC’s holdings, making the stock its 3rd largest position. Wealthpoint LLC’s holdings in Apple were worth $15,449,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Daniels&Tansey LLP raised its stake in shares of Apple by 1.6% in the fourth quarter. Daniels&Tansey LLP now owns 3,858 shares of the iPhone maker’s stock valued at $685,000 after acquiring an additional 60 shares in the last quarter. Donald L. Hagan LLC grew its stake in Apple by 0.3% during the 1st quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock worth $3,181,000 after purchasing an additional 61 shares in the last quarter. Goodwin Daniel L increased its holdings in Apple by 0.5% during the 1st quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock worth $2,230,000 after purchasing an additional 62 shares during the period. Opus Capital Group LLC raised its position in Apple by 0.3% in the 1st quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock valued at $3,332,000 after purchasing an additional 63 shares in the last quarter. Finally, Norwood Financial Corp boosted its stake in shares of Apple by 0.9% in the 1st quarter. Norwood Financial Corp now owns 7,025 shares of the iPhone maker’s stock valued at $1,227,000 after buying an additional 65 shares during the period. 57.98% of the stock is currently owned by hedge funds and other institutional investors.
Apple Stock Performance
NASDAQ:AAPL opened at $160.01 on Wednesday. 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 Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94. The firm’s fifty day simple moving average is $145.07 and its 200-day simple moving average is $157.14. 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.
Apple declared that its board has initiated a stock repurchase program on Thursday, April 28th that permits the company to buyback $90.00 billion in shares. This buyback authorization permits the iPhone maker to reacquire up to 3.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
Apple Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 11th. Shareholders of record on Monday, August 8th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.57%. The ex-dividend date is Friday, August 5th. Apple’s dividend payout ratio (DPR) is 15.18%.
Analyst Upgrades and Downgrades
Several research analysts have commented on the stock. UBS Group set a $185.00 price target on shares of Apple in a report on Thursday, July 21st. Raymond James cut their price target on Apple from $190.00 to $185.00 and set a “maintains” rating on the stock in a research note on Friday, July 29th. Barclays increased 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. Piper Sandler lowered their price target on Apple from $200.00 to $195.00 in a report on Friday, April 29th. Finally, Itau BBA Securities initiated coverage on shares of Apple in a research report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, eight have assigned 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, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $179.16.
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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