Calamos Wealth Management LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 561,191 shares of the iPhone maker’s stock after selling 14,769 shares during the quarter. Apple comprises approximately 7.3% of Calamos Wealth Management LLC’s investment portfolio, making the stock its 2nd largest holding. Calamos Wealth Management LLC’s holdings in Apple were worth $97,990,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cardinal Capital Management Inc. grew its holdings in Apple by 5,525.0% during the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after acquiring an additional 221 shares during the period. Shore Point Advisors LLC acquired a new stake in Apple during the fourth quarter worth about $41,000. St. James Investment Advisors LLC acquired a new stake in Apple during the fourth quarter worth about $57,000. Emerson Wealth LLC grew its holdings in Apple by 363.6% in the first quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock valued at $71,000 after purchasing an additional 320 shares during the period. Finally, Econ Financial Services Corp grew its holdings in Apple by 29.1% in the first quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock valued at $74,000 after purchasing an additional 95 shares during the period. Institutional investors and hedge funds own 57.98% of the company’s stock.
Wall Street Analysts Forecast Growth
AAPL has been the topic of several research analyst reports. Rosenblatt Securities dropped their price objective on Apple from $168.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, July 29th. Loop Capital dropped their price objective on Apple from $210.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, May 25th. Oppenheimer reissued an “outperform” rating and issued a $190.00 price objective on shares of Apple in a report on Wednesday, June 8th. Itaú Unibanco began coverage on Apple in a report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price objective on the stock. Finally, The Goldman Sachs Group set a $139.00 price target on Apple in a research note on Friday, July 29th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $179.21.
Apple Price Performance
Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings data 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 firm had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.30 EPS. On average, sell-side analysts anticipate that Apple Inc. will post 6.11 EPS for the current year.
Apple declared that its board has approved a stock buyback program on Thursday, April 28th that authorizes the company to buyback $90.00 billion in shares. This buyback authorization authorizes the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Apple Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Monday, August 8th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, August 5th. This represents a $0.92 annualized dividend and a yield of 0.55%. Apple’s payout ratio is 15.18%.
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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