Kathmere Capital Management LLC boosted its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 6.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,571 shares of the iPhone maker’s stock after purchasing an additional 3,024 shares during the quarter. Apple comprises approximately 1.4% of Kathmere Capital Management LLC’s holdings, making the stock its 24th largest holding. Kathmere Capital Management LLC’s holdings in Apple were worth $8,481,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also bought and sold shares of AAPL. Daniels&Tansey LLP boosted its stake in shares of Apple by 1.6% during the fourth quarter. Daniels&Tansey LLP now owns 3,858 shares of the iPhone maker’s stock valued at $685,000 after purchasing an additional 60 shares in the last quarter. Donald L. Hagan LLC boosted its stake in shares of Apple by 0.3% during the first quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock valued at $3,181,000 after purchasing an additional 61 shares in the last quarter. Goodwin Daniel L boosted its stake in shares of Apple by 0.5% during the first quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock valued at $2,230,000 after purchasing an additional 62 shares in the last quarter. Opus Capital Group LLC boosted its stake in shares of Apple by 0.3% during the first 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% during the first quarter. Norwood Financial Corp now owns 7,025 shares of the iPhone maker’s stock valued at $1,227,000 after purchasing an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 57.98% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts recently commented on AAPL shares. Wells Fargo & Company decreased their target price on shares of Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, July 20th. The Goldman Sachs Group set a $139.00 target price on shares of Apple in a research report on Friday, July 29th. Raymond James decreased their target price on shares of Apple from $190.00 to $185.00 and set a “maintains” rating for the company in a research report on Friday, July 29th. Fundamental Research increased their target price on shares of Apple to $177.00 and gave the company an “average” rating in a research report on Wednesday. Finally, Itau BBA Securities started coverage on shares of Apple in a research report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 target price for the company. 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’s stock. According to MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $179.21.
Apple Stock Up 3.8 %
Apple (NASDAQ:AAPL – Get Rating) last announced its 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. 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 analyst estimates of $82.97 billion. During the same quarter last year, the business earned $1.30 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, research analysts forecast that Apple Inc. will post 6.11 EPS for the current year.
Apple announced that its Board of Directors has initiated a stock buyback plan on Thursday, April 28th that authorizes the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to reacquire up to 3.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
Apple Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Monday, August 8th will be given 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 (DPR) 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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