Solidarity Wealth LLC purchased a new stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 130,558 shares of the iPhone maker’s stock, valued at approximately $21,529,000. Apple comprises approximately 9.8% of Solidarity Wealth LLC’s portfolio, making the stock its biggest position.
Other large investors also recently modified their holdings of the company. Atlantic Private Wealth LLC purchased a new position in shares of Apple during the 1st quarter valued at about $30,000. St. James Investment Advisors LLC increased its stake in Apple by 98.3% in the 4th 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 during the period. Cheyne Capital Management UK LLP increased its stake in Apple by 200.0% in the 3rd quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock worth $212,000 after purchasing an additional 550 shares during the period. HBC Financial Services PLLC increased its stake in Apple by 21.7% in the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after purchasing an additional 80 shares during the period. Finally, PayPay Securities Corp purchased a new position in Apple in the 4th quarter worth approximately $60,000. 58.51% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of brokerages have commented on AAPL. DA Davidson cut Apple from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $193.00 to $185.00 in a research note on Monday, June 5th. Jefferies Financial Group decreased their price target on Apple from $225.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, August 4th. Oppenheimer lifted their price target on Apple from $195.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th. Canaccord Genuity Group lifted their price target on Apple from $185.00 to $205.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Finally, Rosenblatt Securities cut Apple from a “buy” rating to a “neutral” rating and set a $198.00 target price on the stock. in a research note on Friday, August 4th. Ten analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $198.72.
Apple Stock Up 0.3 %
AAPL stock opened at $178.18 on Monday. Apple Inc. has a 1-year low of $124.17 and a 1-year high of $198.23. The business has a fifty day moving average price of $186.26 and a 200-day moving average price of $174.63. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.98 and a quick ratio of 0.92. The stock has a market capitalization of $2.79 trillion, a P/E ratio of 29.95, a P/E/G ratio of 2.59 and a beta of 1.27.
Apple (NASDAQ:AAPL – Get Free Report) last posted its quarterly earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share 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 firm had revenue of $81.80 billion during the quarter, compared to analysts’ expectations of $81.79 billion. During the same quarter in the previous year, the business earned $1.20 earnings per share. The company’s revenue was down 1.4% on a year-over-year basis. Equities analysts forecast that Apple Inc. will post 6.05 earnings per share for the current fiscal year.
Apple Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Friday, August 11th. Apple’s dividend payout ratio (DPR) is presently 16.13%.
Insider Activity at Apple
In related news, SVP Deirdre O’brien sold 15,419 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now owns 136,445 shares in the company, valued at $24,363,619.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is owned by company insiders.
Apple Company 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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