Tamar Securities LLC grew its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 105,275 shares of the iPhone maker’s stock after purchasing an additional 2,117 shares during the quarter. Apple makes up approximately 5.1% of Tamar Securities LLC’s holdings, making the stock its 3rd biggest holding. Tamar Securities LLC’s holdings in Apple were worth $18,382,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of AAPL. TL Private Wealth bought a new position in Apple during the 4th quarter worth approximately $205,000. Atticus Wealth Management LLC raised its holdings in Apple by 0.7% during the 4th quarter. Atticus Wealth Management LLC now owns 53,292 shares of the iPhone maker’s stock worth $9,463,000 after buying an additional 352 shares during the period. Riverstone Advisors LLC raised its holdings in Apple by 50.9% during the 4th quarter. Riverstone Advisors LLC now owns 17,526 shares of the iPhone maker’s stock worth $3,080,000 after buying an additional 5,914 shares during the period. Helen Stephens Group LLC acquired a new stake in Apple during the 4th quarter worth approximately $2,186,000. Finally, Index Fund Advisors Inc. acquired a new stake in Apple during the 4th quarter worth approximately $16,821,000. Institutional investors own 57.98% of the company’s stock.
Apple Trading Down 0.9 %
Shares of Apple stock opened at $160.01 on Wednesday. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94. The firm has a 50-day moving average of $145.07 and a 200-day moving average of $157.14. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86. The stock has a market cap of $2.59 trillion, a PE ratio of 26.40, a PEG ratio of 2.11 and a beta of 1.23.
Apple Dividend Announcement
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 paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.57%. The ex-dividend date is Friday, August 5th. Apple’s payout ratio is 15.18%.
Apple declared that its Board of Directors has approved a stock buyback program on Thursday, April 28th that allows the company to buyback $90.00 billion in shares. This buyback authorization allows the iPhone maker to reacquire up to 3.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
Analyst Upgrades and Downgrades
Several analysts have commented on the stock. Rosenblatt Securities dropped their target price on shares of Apple from $168.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, July 29th. Raymond James dropped their target price on shares of Apple from $190.00 to $185.00 and set a “maintains” rating on the stock in a report on Friday, July 29th. Sanford C. Bernstein set a $170.00 price objective on shares of Apple in a report on Monday, May 2nd. Oppenheimer reiterated an “outperform” rating and issued a $190.00 price objective on shares of Apple in a report on Wednesday, June 8th. Finally, KeyCorp lifted their price objective on shares of Apple from $173.00 to $177.00 and gave the company an “overweight” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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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