Bay Colony Advisory Group Inc d b a Bay Colony Advisors Raises Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 16.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 108,329 shares of the iPhone maker’s stock after purchasing an additional 15,603 shares during the quarter. Apple comprises 4.5% of Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ portfolio, making the stock its 2nd biggest holding. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Apple were worth $18,915,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Elk River Wealth Management LLC grew its holdings in 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 buying an additional 54,989 shares in the last quarter. Piscataqua Savings Bank boosted its holdings in shares of Apple by 1.5% in the 1st quarter. Piscataqua Savings Bank now owns 47,546 shares of the iPhone maker’s stock worth $8,302,000 after purchasing an additional 684 shares during the period. Harbor Capital Advisors Inc. purchased a new position in shares of Apple in the 1st quarter worth approximately $171,000. Fountainhead AM LLC boosted its holdings in shares of Apple by 11.6% in the 4th quarter. Fountainhead AM LLC now owns 45,544 shares of the iPhone maker’s stock worth $7,732,000 after purchasing an additional 4,738 shares during the period. Finally, Primoris Wealth Advisors LLC purchased a new position in shares of Apple in the 4th quarter worth approximately $4,282,000. Institutional investors own 57.98% of the company’s stock.

Insider Buying and Selling at Apple

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the business’s 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 sale, 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 SEC, which can be accessed through the SEC website. Company insiders own 0.06% of the company’s stock.

Apple Stock Down 0.1 %

Shares of AAPL stock opened at $165.35 on Friday. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The stock’s fifty day moving average price is $146.34 and its 200 day moving average price is $157.12. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. The company has a market cap of $2.66 trillion, a price-to-earnings ratio of 27.29, a price-to-earnings-growth ratio of 2.15 and a beta of 1.23.

Apple (NASDAQ:AAPLGet Rating) last announced its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.06. The firm had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.30 EPS. On average, research analysts expect that Apple Inc. will post 6.1 earnings per share for the current fiscal year.

Apple announced that its board has authorized a stock buyback plan on Thursday, April 28th that permits the company to buyback $90.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Shareholders of record on Monday, August 8th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, August 5th. This represents a $0.92 annualized dividend and a yield of 0.56%. Apple’s payout ratio is presently 15.18%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AAPL shares. Piper Sandler dropped their target price on Apple from $200.00 to $195.00 in a report on Friday, April 29th. The Goldman Sachs Group set a $139.00 target price on Apple in a report on Friday, July 29th. Fundamental Research set a $177.07 target price on Apple and gave the stock a “buy” rating in a report on Thursday. KeyCorp lifted their target price on Apple from $173.00 to $177.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Loop Capital dropped their price objective on Apple from $210.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, May 25th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $179.27.

Apple Company Profile

(Get Rating)

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.

Recommended Stories

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPLGet Rating).

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.