Goodwin Daniel L reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 0.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,526 shares of the iPhone maker’s stock after selling 100 shares during the quarter. Apple accounts for about 1.1% of Goodwin Daniel L’s investment portfolio, making the stock its 12th largest holding. Goodwin Daniel L’s holdings in Apple were worth $2,230,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. St. James Investment Advisors LLC raised its position in shares of Apple by 98.3% during the 4th quarter. St. James Investment Advisors LLC now owns 236 shares of the iPhone maker’s stock valued at $31,000 after acquiring an additional 117 shares in the last quarter. Cheyne Capital Management UK LLP increased its position in Apple by 200.0% in the third quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock worth $212,000 after buying an additional 550 shares during the period. HBC Financial Services PLLC increased its position in Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after buying an additional 80 shares during the period. PayPay Securities Corp acquired a new stake in Apple in the fourth quarter worth $60,000. Finally, LFA Lugano Financial Advisors SA acquired a new stake in Apple in the fourth quarter worth $93,000. 57.89% of the stock is owned by institutional investors and hedge funds.
Apple Stock Up 1.7 %
Shares of Apple stock opened at $193.99 on Tuesday. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $194.48. The stock has a 50-day moving average price of $182.20 and a 200 day moving average price of $162.85. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.56. The company has a market cap of $3.05 trillion, a P/E ratio of 32.94, a P/E/G ratio of 2.54 and a beta of 1.28.
Apple declared that its Board of Directors has authorized a share buyback plan on Thursday, May 4th that authorizes the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to purchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
Apple Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Monday, May 15th were paid a dividend of $0.24 per share. The ex-dividend date was Friday, May 12th. This is an increase 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%. Apple’s dividend payout ratio (DPR) is 16.30%.
Insider Transactions at Apple
In related news, insider Chris Kondo sold 4,092 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $173.26, for a total value of $708,979.92. Following the transaction, the insider now directly owns 33,946 shares of the company’s stock, valued at approximately $5,881,483.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.06% of the company’s stock.
Analyst Ratings Changes
Several brokerages have weighed in on AAPL. Canaccord Genuity Group increased their target price on Apple from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, May 5th. Bank of America increased their target price on Apple from $176.00 to $190.00 in a research report on Monday, June 5th. Wells Fargo & Company raised their price target on Apple from $185.00 to $210.00 in a report on Tuesday, June 6th. Piper Sandler lowered their price target on Apple from $195.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday, May 5th. Finally, 51job reissued a “maintains” rating on shares of Apple in a report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.91.
Apple Profile
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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