USAdvisors Wealth Management LLC grew its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 7.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,807 shares of the iPhone maker’s stock after buying an additional 327 shares during the quarter. USAdvisors Wealth Management LLC’s holdings in Apple were worth $793,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Robinson Value Management Ltd. acquired a new position in Apple in the third quarter valued at approximately $28,000. St. James Investment Advisors LLC lifted its holdings in Apple by 98.3% in the fourth quarter. St. James Investment Advisors LLC now owns 236 shares of the iPhone maker’s stock valued at $31,000 after buying an additional 117 shares during the period. Hanseatic Management Services Inc. lifted its holdings in Apple by 75.4% in the third quarter. Hanseatic Management Services Inc. now owns 249 shares of the iPhone maker’s stock valued at $34,000 after buying an additional 107 shares during the period. HBC Financial Services PLLC lifted its holdings in Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after buying an additional 80 shares during the period. Finally, Align Wealth Management LLC acquired a new position in Apple in the fourth quarter valued at approximately $55,000. 57.89% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Apple in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Jefferies Financial Group increased their target price on shares of Apple from $195.00 to $210.00 in a report on Friday, June 2nd. JPMorgan Chase & Co. increased their target price on shares of Apple from $175.00 to $190.00 and gave the stock an “overweight” rating in a report on Wednesday, April 19th. UBS Group lowered shares of Apple from a “buy” rating to a “neutral” rating and increased their target price for the stock from $180.00 to $190.00 in a report on Monday, June 12th. Finally, Morgan Stanley increased their target price on shares of Apple from $185.00 to $190.00 in a report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $180.52.
Insider Activity
Apple Trading Up 2.3 %
Shares of NASDAQ AAPL opened at $193.97 on Monday. The firm has a 50 day moving average price of $177.18 and a two-hundred day moving average price of $158.29. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.88 and a current ratio of 0.94. Apple Inc. has a 52-week low of $124.17 and a 52-week high of $194.48. The stock has a market cap of $3.05 trillion, a P/E ratio of 32.93, a price-to-earnings-growth ratio of 2.53 and a beta of 1.29.
Apple (NASDAQ:AAPL – Free Report) last posted its quarterly earnings data on Thursday, May 4th. The iPhone maker reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.08. Apple had a net margin of 24.49% and a return on equity of 165.72%. The company had revenue of $94.84 billion for the quarter, compared to analyst estimates of $92.84 billion. During the same period in the prior year, the firm posted $1.52 EPS. The company’s quarterly revenue was down 2.5% on a year-over-year basis. As a group, equities analysts forecast that Apple Inc. will post 5.99 EPS for the current year.
Apple Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Monday, May 15th were paid a $0.24 dividend. This is a positive change from Apple’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Friday, May 12th. Apple’s dividend payout ratio is currently 16.30%.
Apple declared that its Board of Directors has initiated a stock buyback program on Thursday, May 4th that authorizes the company to buyback $90.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
About Apple
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.
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