Round Rock Advisors LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 41.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 52,258 shares of the iPhone maker’s stock after purchasing an additional 15,322 shares during the quarter. Apple comprises about 3.7% of Round Rock Advisors LLC’s investment portfolio, making the stock its 6th largest position. Round Rock Advisors LLC’s holdings in Apple were worth $9,125,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Cardinal Capital Management Inc. grew its stake in Apple by 5,525.0% in 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 stake in Apple in the 4th quarter valued at about $41,000. St. James Investment Advisors LLC acquired a new stake in Apple in the 4th quarter valued at about $57,000. Emerson Wealth LLC grew its stake in Apple by 363.6% in the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock valued at $71,000 after acquiring an additional 320 shares during the last quarter. Finally, Econ Financial Services Corp grew its stake in Apple by 29.1% in the 1st quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock valued at $74,000 after acquiring an additional 95 shares during the last quarter. 57.98% of the stock is owned by institutional investors and hedge funds.
Apple Trading Up 3.8 %
AAPL opened at $166.13 on Thursday. The firm 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. The firm’s 50 day moving average is $145.58 and its 200-day moving average is $157.20. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63.
Apple announced that its board has authorized a share repurchase program on Thursday, April 28th that authorizes the company to buyback $90.00 billion in shares. This buyback authorization authorizes the iPhone maker to buy up to 3.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
Apple Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Monday, August 8th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Friday, August 5th. Apple’s payout ratio is currently 15.18%.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. set a $200.00 price target on shares of Apple in a research note on Monday, July 25th. Oppenheimer reaffirmed an “outperform” rating and set a $190.00 price target on shares of Apple in a research note on Wednesday, June 8th. set a $175.00 price target on shares of Apple in a research note on Friday, July 29th. Itaú Unibanco assumed coverage on shares of Apple in a research note on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft set a $175.00 price target on shares of Apple in a research note on Monday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $179.21.
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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