Hanson & Doremus Investment Management cut its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 89.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,103 shares of the iPhone maker’s stock after selling 307,864 shares during the period. Apple accounts for about 1.0% of Hanson & Doremus Investment Management’s investment portfolio, making the stock its 19th biggest position. Hanson & Doremus Investment Management’s holdings in Apple were worth $4,561,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AAPL. IFM Investors Pty Ltd boosted its position in Apple by 20.0% in the first quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock valued at $456,728,000 after buying an additional 435,891 shares in the last quarter. Ironwood Wealth Management LLC. lifted its position in shares of Apple by 0.4% during the first quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock worth $42,016,000 after purchasing an additional 1,040 shares in the last quarter. Markel Corp lifted its position in shares of Apple by 0.7% during the first quarter. Markel Corp now owns 1,206,990 shares of the iPhone maker’s stock worth $210,752,000 after purchasing an additional 8,450 shares in the last quarter. Camden Capital LLC lifted its position in shares of Apple by 9.2% during the first quarter. Camden Capital LLC now owns 156,364 shares of the iPhone maker’s stock worth $27,305,000 after purchasing an additional 13,200 shares in the last quarter. Finally, Harbor Island Capital LLC lifted its position in shares of Apple by 0.3% during the first quarter. Harbor Island Capital LLC now owns 135,325 shares of the iPhone maker’s stock worth $23,629,000 after purchasing an additional 400 shares in the last quarter. 57.60% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on AAPL. StockNews.com began coverage on shares of Apple in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Fundamental Research reiterated a “buy” rating and set a $168.00 target price on shares of Apple in a research report on Tuesday, February 14th. Evercore ISI reiterated an “outperform” rating and set a $190.00 target price on shares of Apple in a research report on Monday, February 6th. Piper Sandler reiterated an “overweight” rating and set a $195.00 target price on shares of Apple in a research report on Friday, February 3rd. Finally, UBS Group set a $180.00 price objective on shares of Apple in a report on Tuesday, March 7th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average price target of $168.24.
Insider Transactions at Apple
Apple Stock Up 1.6 %
Shares of AAPL stock opened at $164.90 on Friday. The firm has a fifty day moving average of $151.76 and a 200-day moving average of $145.53. 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. The company has a market capitalization of $2.61 trillion, a price-to-earnings ratio of 28.00, a P/E/G ratio of 2.13 and a beta of 1.30.
Apple (NASDAQ:AAPL – Get Rating) last issued 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 company had revenue of $117.15 billion for the quarter, compared to the consensus estimate of $121.67 billion. During the same period in the prior year, the company earned $2.10 EPS. The firm’s revenue was down 5.5% on a year-over-year basis. As a group, equities research analysts predict that Apple Inc. will post 6.04 earnings per share for the current fiscal year.
Apple Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 16th. Stockholders of record on Monday, February 13th were given a dividend of $0.23 per share. This is an increase from Apple’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, February 10th. This represents a $0.92 annualized dividend and a dividend yield of 0.56%. Apple’s dividend payout ratio is currently 15.62%.
About Apple
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.
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