Grandfield & Dodd LLC grew its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 0.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 102,965 shares of the iPhone maker’s stock after buying an additional 462 shares during the quarter. Grandfield & Dodd LLC’s holdings in Apple were worth $16,979,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. U S Global Investors Inc. bought a new stake in shares of Apple in the first quarter worth $1,748,000. Wealthfront Advisers LLC grew its stake in shares of Apple by 9.0% in the first quarter. Wealthfront Advisers LLC now owns 1,170,494 shares of the iPhone maker’s stock worth $193,014,000 after purchasing an additional 96,191 shares during the last quarter. Warren Street Wealth Advisors LLC grew its stake in shares of Apple by 50.0% in the first quarter. Warren Street Wealth Advisors LLC now owns 12,710 shares of the iPhone maker’s stock worth $2,096,000 after purchasing an additional 4,237 shares during the last quarter. Phraction Management LLC grew its stake in shares of Apple by 2.0% in the first quarter. Phraction Management LLC now owns 4,562 shares of the iPhone maker’s stock worth $752,000 after purchasing an additional 89 shares during the last quarter. Finally, Horst & Graben Wealth Management LLC grew its stake in shares of Apple by 6.1% in the first quarter. Horst & Graben Wealth Management LLC now owns 39,912 shares of the iPhone maker’s stock worth $6,582,000 after purchasing an additional 2,284 shares during the last quarter. Institutional investors own 57.89% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the stock. Sanford C. Bernstein boosted their price objective on shares of Apple from $175.00 to $195.00 and gave the stock a “market perform” rating in a research note on Thursday, July 27th. 51job reissued a “maintains” rating on shares of Apple in a research note on Friday, June 2nd. Bank of America boosted their target price on shares of Apple from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Wednesday, July 19th. Fundamental Research set a $183.86 target price on shares of Apple and gave the company a “buy” rating in a report on Wednesday, May 17th. Finally, Loop Capital lowered shares of Apple from a “buy” rating to a “hold” rating and set a $180.00 target price on the stock. in a report on Monday, May 22nd. Ten equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and an average price target of $198.86.
Insiders Place Their Bets
In other Apple news, SVP Deirdre O’brien sold 15,419 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $178.56, for a total value of $2,753,216.64. Following the sale, the senior vice president now owns 136,445 shares of the company’s stock, valued at approximately $24,363,619.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.06% of the company’s stock.
Apple Stock Performance
Shares of AAPL stock opened at $177.79 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.63. Apple Inc. has a 12 month low of $124.17 and a 12 month high of $198.23. The firm’s 50 day moving average is $187.83 and its 200 day moving average is $169.67. The stock has a market capitalization of $2.78 trillion, a P/E ratio of 29.88, a PEG ratio of 2.60 and a beta of 1.28.
Apple (NASDAQ:AAPL – Get Free Report) last released its earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 EPS for the quarter, beating the consensus estimate of $1.19 by $0.07. Apple had a net margin of 24.68% and a return on equity of 164.92%. The company had revenue of $81.80 billion for the quarter, compared to analyst estimates of $81.79 billion. During the same quarter last year, the firm earned $1.20 EPS. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Apple Inc. will post 6.05 earnings per share for the current year.
Apple Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Monday, August 14th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Friday, August 11th. Apple’s dividend payout ratio (DPR) is presently 16.13%.
Apple announced that its Board of Directors has initiated a share repurchase program on Thursday, May 4th that permits the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to buy up to 3.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
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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