Belpointe Asset Management LLC raised its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 5.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 515,326 shares of the iPhone maker’s stock after buying an additional 24,478 shares during the quarter. Apple comprises 5.5% of Belpointe Asset Management LLC’s investment portfolio, making the stock its largest holding. Belpointe Asset Management LLC’s holdings in Apple were worth $89,963,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Elk River Wealth Management LLC lifted its holdings in shares of Apple by 49.0% during the first quarter. Elk River Wealth Management LLC now owns 167,122 shares of the iPhone maker’s stock worth $29,181,000 after buying an additional 54,989 shares during the last quarter. Piscataqua Savings Bank increased its position in shares of Apple by 1.5% during the first quarter. Piscataqua Savings Bank now owns 47,546 shares of the iPhone maker’s stock valued at $8,302,000 after purchasing an additional 684 shares during the period. Harbor Capital Advisors Inc. bought a new stake in shares of Apple during the first quarter valued at approximately $171,000. Fountainhead AM LLC increased its position in shares of Apple by 11.6% during the fourth quarter. Fountainhead AM LLC now owns 45,544 shares of the iPhone maker’s stock valued at $7,732,000 after purchasing an additional 4,738 shares during the period. Finally, Primoris Wealth Advisors LLC bought a new stake in shares of Apple during the fourth quarter valued at approximately $4,282,000. 57.98% of the stock is currently owned by institutional investors and hedge funds.
Apple Trading Down 0.2 %
NASDAQ:AAPL opened at $165.81 on Friday. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The business’s 50-day moving average price is $146.03 and its two-hundred day moving average price is $157.15. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $2.66 trillion, a price-to-earnings ratio of 27.36, a PEG ratio of 2.07 and a beta of 1.23.
Apple declared that its board has authorized a stock repurchase 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 buy up to 3.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
Apple Announces Dividend
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 of this dividend is Friday, August 5th. Apple’s payout ratio is 15.18%.
Analyst Ratings Changes
A number of analysts have recently issued reports on the company. Itaú Unibanco assumed coverage on Apple in a research report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price objective on the stock. Bank of America lowered their price target on Apple from $200.00 to $185.00 in a research report on Tuesday, July 26th. Wells Fargo & Company lowered their price target on Apple from $205.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. The Goldman Sachs Group set a $139.00 price target on Apple in a research report on Friday, July 29th. Finally, Deutsche Bank Aktiengesellschaft set a $175.00 price target on Apple in a research report on Monday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.27.
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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