Planning Alternatives Ltd. ADV trimmed its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,326 shares of the iPhone maker’s stock after selling 962 shares during the period. Apple makes up approximately 1.5% of Planning Alternatives Ltd. ADV’s holdings, making the stock its 13th largest holding. Planning Alternatives Ltd. ADV’s holdings in Apple were worth $9,137,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Elk River Wealth Management LLC boosted its position in shares of Apple by 49.0% during the 1st quarter. Elk River Wealth Management LLC now owns 167,122 shares of the iPhone maker’s stock valued at $29,181,000 after acquiring an additional 54,989 shares in the last quarter. Piscataqua Savings Bank boosted its position in shares of Apple by 1.5% during the 1st quarter. Piscataqua Savings Bank now owns 47,546 shares of the iPhone maker’s stock valued at $8,302,000 after acquiring an additional 684 shares in the last quarter. Fountainhead AM LLC boosted its position in shares of Apple by 11.6% during the 4th quarter. Fountainhead AM LLC now owns 45,544 shares of the iPhone maker’s stock valued at $7,732,000 after acquiring an additional 4,738 shares in the last quarter. Primoris Wealth Advisors LLC acquired a new stake in shares of Apple during the 4th quarter valued at about $4,282,000. Finally, Red Door Wealth Management LLC boosted its position in shares of Apple by 3.3% during the 1st quarter. Red Door Wealth Management LLC now owns 96,983 shares of the iPhone maker’s stock valued at $16,934,000 after acquiring an additional 3,087 shares in the last quarter. 57.98% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several brokerages have recently weighed in on AAPL. UBS Group set a $185.00 target price on shares of Apple in a research report on Thursday, July 21st. Morgan Stanley dropped their price objective on shares of Apple from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. JPMorgan Chase & Co. set a $200.00 target price on shares of Apple in a research note on Monday, July 25th. Fundamental Research lifted their target price on shares of Apple to $177.00 and gave the company an “average” rating in a research note on Wednesday. Finally, Sanford C. Bernstein set a $170.00 target price on shares of Apple in a research note on Monday, May 2nd. Two equities research 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $179.21.
Apple Trading Up 3.8 %
Apple (NASDAQ:AAPL – Get Rating) last released its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. During the same quarter in the prior year, the firm posted $1.30 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis. On average, equities analysts expect that Apple Inc. will post 6.11 earnings per share for the current year.
Apple Dividend Announcement
The business 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 $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.55%. The ex-dividend date is Friday, August 5th. Apple’s payout ratio is 15.18%.
Apple announced that its board has approved a share buyback program 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 programs are usually an indication that the company’s board of directors believes its stock is undervalued.
Apple Company Profile
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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