Redhawk Wealth Advisors Inc. grew its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 3.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 32,113 shares of the iPhone maker’s stock after buying an additional 984 shares during the quarter. Apple accounts for about 1.8% of Redhawk Wealth Advisors Inc.’s investment portfolio, making the stock its 15th biggest position. Redhawk Wealth Advisors Inc.’s holdings in Apple were worth $5,295,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of AAPL. St. James Investment Advisors LLC grew its stake in Apple by 98.3% in the fourth quarter. St. James Investment Advisors LLC now owns 236 shares of the iPhone maker’s stock worth $31,000 after purchasing an additional 117 shares in the last quarter. HBC Financial Services PLLC grew its stake 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 purchasing an additional 80 shares in the last quarter. PayPay Securities Corp bought a new position in Apple in the fourth quarter worth approximately $60,000. LFA Lugano Financial Advisors SA bought a new position in Apple in the fourth quarter worth approximately $93,000. Finally, Sonnipe Ltd bought a new position in Apple in the fourth quarter worth approximately $104,000. Institutional investors own 57.89% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on AAPL shares. Morgan Stanley dropped their price objective on Apple from $220.00 to $215.00 and set an “overweight” rating on the stock in a research note on Friday, August 4th. Atlantic Securities increased their price objective on Apple from $180.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, May 5th. Raymond James increased their target price on Apple from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, August 4th. Robert W. Baird increased their target price on Apple from $180.00 to $204.00 and gave the company an “outperform” rating in a research report on Tuesday, August 1st. Finally, Credit Suisse Group increased their target price on Apple from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, July 20th. Ten investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. According to MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average target price of $198.86.
Insider Transactions at Apple
In other news, SVP Deirdre O’brien sold 15,419 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $178.56, for a total transaction of $2,753,216.64. Following the transaction, the senior vice president now directly owns 136,445 shares in the company, valued at approximately $24,363,619.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.06% of the company’s stock.
Apple Price Performance
NASDAQ:AAPL opened at $177.79 on Friday. Apple Inc. has a 12 month low of $124.17 and a 12 month high of $198.23. The stock has a 50 day moving average of $187.83 and a two-hundred day moving average of $169.67. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.63. The firm has a market cap of $2.78 trillion, a P/E ratio of 29.88, a price-to-earnings-growth ratio of 2.60 and a beta of 1.28.
Apple (NASDAQ:AAPL – Get Free Report) last posted its quarterly earnings data on Thursday, August 3rd. The iPhone maker reported $1.26 EPS for the quarter, topping the consensus estimate of $1.19 by $0.07. Apple had a return on equity of 164.92% and a net margin of 24.68%. The company had revenue of $81.80 billion during the quarter, compared to analyst estimates of $81.79 billion. During the same period in the previous year, the business earned $1.20 EPS. Apple’s quarterly revenue was down 1.4% on a year-over-year basis. On average, analysts expect that Apple Inc. will post 6.05 earnings per share for the current fiscal year.
Apple Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Monday, August 14th will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, August 11th. This represents a $0.96 annualized dividend and a yield of 0.54%. Apple’s dividend payout ratio (DPR) is currently 16.13%.
Apple declared that its Board of Directors has authorized 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 stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is 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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