Shulman DeMeo Asset Management LLC Has $11.40 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Shulman DeMeo Asset Management LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 1.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 65,312 shares of the iPhone maker’s stock after selling 1,146 shares during the period. Apple accounts for approximately 3.2% of Shulman DeMeo Asset Management LLC’s investment portfolio, making the stock its 4th biggest position. Shulman DeMeo Asset Management LLC’s holdings in Apple were worth $11,404,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. State Street Corp raised its position in shares of Apple by 1.8% in the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after acquiring an additional 10,951,705 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Apple by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker’s stock worth $46,812,958,000 after acquiring an additional 4,456,954 shares in the last quarter. Norges Bank bought a new position in shares of Apple in the 4th quarter worth about $25,228,507,000. Charles Schwab Investment Management Inc. raised its position in shares of Apple by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 79,583,859 shares of the iPhone maker’s stock worth $14,131,710,000 after acquiring an additional 1,273,148 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of Apple by 5.1% in the 4th quarter. Fisher Asset Management LLC now owns 63,982,104 shares of the iPhone maker’s stock worth $11,361,302,000 after acquiring an additional 3,096,696 shares in the last quarter. 57.98% of the stock is owned by institutional investors.

Apple Trading Down 0.9 %

Shares of AAPL stock opened at $160.01 on Wednesday. The company’s fifty day simple moving average is $145.07 and its two-hundred day simple moving average is $157.14. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The stock has a market capitalization of $2.59 trillion, a price-to-earnings ratio of 26.40, a PEG ratio of 2.11 and a beta of 1.23.

Apple (NASDAQ:AAPLGet Rating) last issued its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $82.97 billion. During the same quarter in the previous year, the firm posted $1.30 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, analysts anticipate that Apple Inc. will post 6.08 earnings per share for the current year.

Apple announced that its Board of Directors has initiated a share repurchase plan on Thursday, April 28th that allows the company to buyback $90.00 billion in outstanding shares. This buyback authorization allows 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 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. Shareholders of record on Monday, August 8th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 0.57%. Apple’s payout ratio is 15.18%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AAPL. Itau BBA Securities began coverage on Apple in a research report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price objective for the company. UBS Group set a $185.00 target price on Apple in a research note on Thursday, July 21st. Oppenheimer restated an “outperform” rating and issued a $190.00 target price on shares of Apple in a research note on Wednesday, June 8th. JPMorgan Chase & Co. set a $200.00 target price on Apple in a research note on Monday, July 25th. Finally, Loop Capital reduced their target price on Apple from $210.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, May 25th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $179.16.

About Apple

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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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