Apple Inc. (NASDAQ:AAPL) Holdings Lessened by Granger Management LLC

Granger Management LLC cut its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 16.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,530 shares of the iPhone maker’s stock after selling 7,019 shares during the quarter. Apple accounts for 1.6% of Granger Management LLC’s portfolio, making the stock its 8th largest position. Granger Management LLC’s holdings in Apple were worth $6,029,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in AAPL. Cardinal Capital Management Inc. boosted its stake in 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 acquiring an additional 221 shares during the last quarter. Shore Point Advisors LLC acquired a new position in Apple in the fourth quarter worth about $41,000. St. James Investment Advisors LLC bought a new stake in Apple in the fourth quarter valued at about $57,000. Emerson Wealth LLC raised its stake in Apple by 363.6% during the first 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. Finally, Econ Financial Services Corp lifted its holdings in Apple by 29.1% during the 1st quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock worth $74,000 after buying an additional 95 shares during the last quarter. 57.98% of the stock is owned by institutional investors and hedge funds.

Apple Price Performance

NASDAQ AAPL opened at $166.13 on Thursday. The stock has a market capitalization of $2.69 trillion, a P/E ratio of 27.41, a P/E/G ratio of 2.09 and a beta of 1.23. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The business’s fifty day moving average is $145.58 and its two-hundred day moving average is $157.20. 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:AAPLGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.06. The company had revenue of $82.96 billion for 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%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.30 earnings per share. On average, research analysts forecast that Apple Inc. will post 6.11 earnings per share for the current fiscal year.

Apple announced that its Board of Directors has initiated a stock repurchase plan on Thursday, April 28th that permits the company to buyback $90.00 billion in outstanding 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 generally an indication that the company’s leadership believes its shares are undervalued.

Apple Dividend Announcement

The business also recently declared 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. The ex-dividend date is Friday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 0.55%. Apple’s dividend payout ratio is currently 15.18%.

Analysts Set New Price Targets

AAPL has been the topic of several research reports. Fundamental Research upped their price target on Apple to $177.00 and gave the company an “average” rating in a research report on Wednesday. Bank of America lowered their price objective on shares of Apple from $200.00 to $185.00 in a research report on Tuesday, July 26th. Credit Suisse Group set a $166.00 target price on shares of Apple in a report on Friday, July 29th. Oppenheimer reissued an “outperform” rating and issued a $190.00 target price on shares of Apple in a report on Wednesday, June 8th. Finally, Barclays raised their target price on shares of Apple from $166.00 to $169.00 and gave the stock a “maintains” rating in a report on Friday, July 29th. Two 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $179.21.

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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