Bowman & Co S.C. Grows Stock Position in Apple Inc. (NASDAQ:AAPL)

Bowman & Co S.C. lifted its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 20,981 shares of the iPhone maker’s stock after acquiring an additional 480 shares during the period. Apple makes up 2.6% of Bowman & Co S.C.’s investment portfolio, making the stock its 8th largest position. Bowman & Co S.C.’s holdings in Apple were worth $2,900,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Robinson Value Management Ltd. acquired a new stake in shares of Apple during the 3rd quarter worth approximately $28,000. Hanseatic Management Services Inc. increased its position in Apple by 75.4% in the third quarter. Hanseatic Management Services Inc. now owns 249 shares of the iPhone maker’s stock worth $34,000 after buying an additional 107 shares during the period. Bluestem Financial Advisors LLC lifted its stake in Apple by 5,935.2% in the second quarter. Bluestem Financial Advisors LLC now owns 233,803 shares of the iPhone maker’s stock valued at $35,000 after buying an additional 229,929 shares during the last quarter. HBC Financial Services PLLC boosted its holdings in shares of Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after acquiring an additional 80 shares during the period. Finally, Ramsey Quantitative Systems bought a new position in shares of Apple during the second quarter worth about $55,000. 57.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AAPL. Barclays lifted their price objective on shares of Apple from $133.00 to $145.00 and gave the company an “equal weight” rating in a research report on Friday, February 3rd. The Goldman Sachs Group assumed coverage on Apple in a research report on Sunday, March 5th. They set a “buy” rating and a $199.00 price objective for the company. Piper Sandler restated an “overweight” rating and issued a $195.00 target price on shares of Apple in a research report on Friday, February 3rd. Cowen reduced their price target on Apple from $200.00 to $195.00 and set an “outperform” rating for the company in a research report on Friday, February 3rd. Finally, JPMorgan Chase & Co. set a $175.00 price target on Apple in a report on Wednesday, March 1st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $168.24.

Apple Price Performance

AAPL opened at $150.47 on Tuesday. The firm has a market capitalization of $2.38 trillion, a P/E ratio of 25.55, a PEG ratio of 1.97 and a beta of 1.30. The stock has a fifty day moving average of $144.43 and a 200-day moving average of $145.41. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 1.76. Apple Inc. has a 12-month low of $124.17 and a 12-month high of $179.61.

Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The iPhone maker reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.05). Apple had a return on equity of 163.45% and a net margin of 24.56%. The business had revenue of $117.15 billion during the quarter, compared to analysts’ expectations of $121.67 billion. During the same period in the prior year, the company posted $2.10 earnings per share. The firm’s revenue was down 5.5% on a year-over-year basis. Equities analysts forecast that Apple Inc. will post 6.04 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 16th. Investors of record on Monday, February 13th were issued a dividend of $0.23 per share. This is a boost from Apple’s previous quarterly dividend of $0.17. This represents a $0.92 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Friday, February 10th. Apple’s dividend payout ratio (DPR) is currently 15.62%.

Apple Profile

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Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.