Fusion Family Wealth LLC increased its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 162.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,568 shares of the iPhone maker’s stock after acquiring an additional 2,207 shares during the period. Apple makes up 0.1% of Fusion Family Wealth LLC’s portfolio, making the stock its 25th biggest position. Fusion Family Wealth LLC’s holdings in Apple were worth $623,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Daniels&Tansey LLP raised its position in 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 acquiring an additional 60 shares in the last quarter. Donald L. Hagan LLC raised its position in 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 acquiring an additional 61 shares in the last quarter. Goodwin Daniel L raised its position in 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 acquiring an additional 62 shares in the last quarter. Opus Capital Group LLC raised its position in 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 acquiring an additional 63 shares in the last quarter. Finally, Norwood Financial Corp raised its position in 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 acquiring an additional 65 shares in the last quarter. Institutional investors and hedge funds own 57.98% of the company’s stock.
Analyst Ratings Changes
Several brokerages recently weighed in on AAPL. Deutsche Bank Aktiengesellschaft set a $175.00 price objective on shares of Apple in a research report on Monday. Itaú Unibanco assumed coverage on shares of Apple in a research report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price target on the stock. The Goldman Sachs Group set a $139.00 price target on shares of Apple in a research report on Friday, July 29th. KeyCorp lifted their price target on shares of Apple from $173.00 to $177.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Bank of America dropped their price target on shares of Apple from $200.00 to $185.00 in a research report on Tuesday, July 26th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus target price of $179.27.
Apple Stock Down 0.2 %
Apple (NASDAQ:AAPL – Get Rating) last issued its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 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 company had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. During the same quarter in the previous year, the company earned $1.30 EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities research analysts predict that Apple Inc. will post 6.1 earnings per share for the current fiscal year.
Apple Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Monday, August 8th will be paid 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 presently 15.18%.
Apple announced that its Board of Directors has approved a stock buyback plan on Thursday, April 28th that permits the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to buy up to 3.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are 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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