Alphastar Capital Management LLC Has $24.28 Million Position in Apple Inc. (NASDAQ:AAPL)

Alphastar Capital Management LLC grew its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 3.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 139,056 shares of the iPhone maker’s stock after acquiring an additional 4,775 shares during the quarter. Apple accounts for 2.0% of Alphastar Capital Management LLC’s portfolio, making the stock its 9th largest holding. Alphastar Capital Management LLC’s holdings in Apple were worth $24,281,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. ShankerValleau Wealth Advisors Inc. acquired a new position in shares of Apple in the fourth quarter valued at $322,000. Private Advisory Group LLC raised its stake in shares of Apple by 6.6% in the fourth quarter. Private Advisory Group LLC now owns 188,407 shares of the iPhone maker’s stock valued at $33,455,000 after purchasing an additional 11,594 shares in the last quarter. Bernardo Wealth Planning LLC raised its stake in shares of Apple by 11.2% in the fourth quarter. Bernardo Wealth Planning LLC now owns 38,061 shares of the iPhone maker’s stock valued at $6,758,000 after purchasing an additional 3,848 shares in the last quarter. State of Michigan Retirement System raised its stake in shares of Apple by 1.0% in the fourth quarter. State of Michigan Retirement System now owns 4,797,394 shares of the iPhone maker’s stock valued at $851,873,000 after purchasing an additional 45,240 shares in the last quarter. Finally, Bordeaux Wealth Advisors LLC raised its stake in shares of Apple by 20.4% in the fourth quarter. Bordeaux Wealth Advisors LLC now owns 133,332 shares of the iPhone maker’s stock valued at $23,676,000 after purchasing an additional 22,572 shares in the last quarter. 57.98% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the transaction, the senior vice president now owns 427,334 shares in the company, valued at approximately $70,411,823.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.06% of the company’s stock.

Apple Price Performance

Apple stock opened at $165.35 on Friday. The business’s 50-day simple moving average is $146.34 and its 200 day simple moving average is $157.12. The stock has a market cap of $2.66 trillion, a price-to-earnings ratio of 27.29, a P/E/G ratio of 2.15 and a beta of 1.23. Apple Inc. has a 12-month low of $129.04 and a 12-month 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 (NASDAQ:AAPLGet Rating) last issued its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $82.97 billion. During the same quarter last year, the business earned $1.30 earnings per share. The company’s revenue was up 1.9% compared to the same quarter last year. As a group, research analysts anticipate that Apple Inc. will post 6.1 earnings per share for the current year.

Apple declared that its board has authorized a stock buyback plan 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 stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors 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 issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Friday, August 5th. Apple’s dividend payout ratio (DPR) is currently 15.18%.

Analysts Set New Price Targets

A number of brokerages recently commented on AAPL. Wells Fargo & Company cut their target price on Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, July 20th. Rosenblatt Securities dropped their price objective on Apple from $168.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, July 29th. Deutsche Bank Aktiengesellschaft set a $175.00 price objective on Apple in a research note on Monday, August 1st. Evercore ISI increased their price objective on Apple from $180.00 to $185.00 in a research note on Friday, July 29th. Finally, Citigroup increased their price objective on Apple from $175.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $179.27.

Apple Profile

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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.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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