Taylor Hoffman Wealth Management boosted its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 1.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 101,229 shares of the iPhone maker’s stock after purchasing an additional 1,801 shares during the period. Apple comprises approximately 9.1% of Taylor Hoffman Wealth Management’s portfolio, making the stock its largest holding. Taylor Hoffman Wealth Management’s holdings in Apple were worth $16,693,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Apple by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after purchasing an additional 8,734,393 shares during the period. Moneta Group Investment Advisors LLC raised its holdings in shares of Apple by 116,483.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock valued at $74,002,245,000 after acquiring an additional 569,066,184 shares in the last quarter. Geode Capital Management LLC lifted its stake in Apple by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 282,749,817 shares of the iPhone maker’s stock worth $36,671,884,000 after acquiring an additional 2,991,299 shares during the period. Price T Rowe Associates Inc. MD increased its position in Apple by 0.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 226,281,368 shares of the iPhone maker’s stock valued at $29,400,739,000 after purchasing an additional 1,417,827 shares during the period. Finally, Morgan Stanley raised its holdings in Apple by 14.2% in the 4th quarter. Morgan Stanley now owns 208,655,323 shares of the iPhone maker’s stock worth $27,110,586,000 after purchasing an additional 25,926,552 shares in the last quarter. 58.51% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts recently issued reports on AAPL shares. Raymond James boosted their price target on shares of Apple from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, August 4th. Barclays raised their target price on Apple from $149.00 to $167.00 and gave the company an “equal weight” rating in a research note on Friday, August 4th. Morgan Stanley reduced their price target on Apple from $220.00 to $215.00 and set an “overweight” rating on the stock in a research note on Friday, August 4th. StockNews.com started coverage on shares of Apple in a report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Jefferies Financial Group decreased their price target on shares of Apple from $225.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, August 4th. Ten equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $198.86.
Apple Trading Down 2.9 %
Apple stock opened at $177.56 on Friday. The firm has a market capitalization of $2.78 trillion, a price-to-earnings ratio of 29.84, a P/E/G ratio of 2.76 and a beta of 1.27. Apple Inc. has a 12-month low of $124.17 and a 12-month high of $198.23. The firm has a 50 day moving average of $186.57 and a 200 day moving average of $174.09. 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 (NASDAQ:AAPL – Get Free Report) last posted its quarterly earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. The business had revenue of $81.80 billion for the quarter, compared to analysts’ expectations of $81.79 billion. Apple had a return on equity of 164.92% and a net margin of 24.68%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period last year, the firm earned $1.20 earnings per share. As a group, research analysts predict that Apple Inc. will post 6.05 earnings per share for the current year.
Apple Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were paid a $0.24 dividend. The ex-dividend date was Friday, August 11th. This represents a $0.96 annualized dividend and a yield of 0.54%. Apple’s payout ratio is 16.13%.
Insider Buying and Selling
In other news, SVP Deirdre O’brien sold 15,419 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 136,445 shares in the company, valued at $24,363,619.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.06% of the stock is owned by company insiders.
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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