Islay Capital Management LLC Has $3.60 Million Position in Apple Inc. (NASDAQ:AAPL)

Islay Capital Management LLC cut its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 2.3% in the first quarter, HoldingsChannel reports. The firm owned 20,611 shares of the iPhone maker’s stock after selling 486 shares during the period. Apple accounts for approximately 3.0% of Islay Capital Management LLC’s portfolio, making the stock its 8th biggest holding. Islay Capital Management LLC’s holdings in Apple were worth $3,599,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of AAPL. Elk River Wealth Management LLC boosted its holdings in Apple by 49.0% during the first quarter. Elk River Wealth Management LLC now owns 167,122 shares of the iPhone maker’s stock valued at $29,181,000 after acquiring an additional 54,989 shares during the period. Piscataqua Savings Bank boosted its holdings in 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 acquiring an additional 684 shares during the period. Harbor Capital Advisors Inc. bought a new stake in Apple during the first quarter valued at about $171,000. Fountainhead AM LLC lifted its stake in shares of Apple by 11.6% in the fourth quarter. Fountainhead AM LLC now owns 45,544 shares of the iPhone maker’s stock valued at $7,732,000 after buying an additional 4,738 shares during the period. Finally, Primoris Wealth Advisors LLC bought a new stake in shares of Apple in the fourth quarter valued at about $4,282,000. 57.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Citigroup increased their target price on shares of Apple from $175.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, July 29th. set a $175.00 target price on shares of Apple in a research note on Friday, July 29th. Rosenblatt Securities reduced their target price on shares of Apple from $168.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, July 29th. Evercore ISI increased their target price on shares of Apple from $180.00 to $185.00 in a research note on Friday, July 29th. Finally, Piper Sandler reduced their target price on shares of Apple from $200.00 to $195.00 in a research note on Friday, April 29th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $179.27.

Insider Buying and Selling at Apple

In other news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction on Wednesday, August 3rd. The shares were 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 directly owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of AAPL stock opened at $165.35 on Friday. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94. The stock has a market cap of $2.66 trillion, a PE ratio of 27.29, a PEG ratio of 2.15 and a beta of 1.23. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86. The firm’s 50 day moving average price is $146.34 and its two-hundred day moving average price is $157.12.

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

Apple Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 0.56%. Apple’s payout ratio is presently 15.18%.

Apple declared that its Board of Directors has authorized a share repurchase program on Thursday, April 28th that permits the company to buyback $90.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Apple 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.

Featured Articles

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)

Want More Great Investing Ideas?

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.