Redhawk Wealth Advisors Inc. grew its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 45.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,553 shares of the iPhone maker’s stock after buying an additional 14,440 shares during the quarter. Apple accounts for 2.8% of Redhawk Wealth Advisors Inc.’s holdings, making the stock its 7th largest holding. Redhawk Wealth Advisors Inc.’s holdings in Apple were worth $9,030,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in AAPL. Vanguard Group Inc. raised its position in shares of Apple by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after acquiring an additional 8,734,393 shares in the last quarter. Berkshire Hathaway Inc raised its position in shares of Apple by 2.3% in the 1st quarter. Berkshire Hathaway Inc now owns 915,560,382 shares of the iPhone maker’s stock worth $150,975,907,000 after acquiring an additional 20,424,207 shares in the last quarter. Moneta Group Investment Advisors LLC raised its position in shares of Apple by 116,483.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock worth $74,002,245,000 after acquiring an additional 569,066,184 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Apple by 0.9% in the 1st quarter. Geode Capital Management LLC now owns 285,171,112 shares of the iPhone maker’s stock worth $46,918,015,000 after acquiring an additional 2,421,295 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Apple by 3.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 234,017,381 shares of the iPhone maker’s stock valued at $38,589,468,000 after buying an additional 7,736,013 shares in the last quarter. 58.51% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Apple
In related news, SVP Deirdre O’brien sold 15,419 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $178.56, for a total value of $2,753,216.64. Following the completion of the sale, the senior vice president now owns 136,445 shares of the company’s stock, valued at $24,363,619.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.06% of the company’s stock.
Apple Price Performance
Apple (NASDAQ:AAPL – Get Free Report) last announced its 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. Apple had a return on equity of 164.92% and a net margin of 24.68%. The business had revenue of $81.80 billion during the quarter, compared to analysts’ expectations of $81.79 billion. During the same quarter in the prior year, the firm earned $1.20 earnings per share. The business’s revenue was down 1.4% compared to the same quarter last year. As a group, analysts predict that Apple Inc. will post 6.05 EPS for the current fiscal year.
Apple Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.96 annualized dividend and a dividend yield of 0.56%. Apple’s dividend payout ratio is presently 16.13%.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on the company. 51job reaffirmed a “maintains” rating on shares of Apple in a research report on Friday, June 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 target price on shares of Apple in a research report on Wednesday, September 13th. 58.com reaffirmed a “maintains” rating on shares of Apple in a research report on Monday, June 5th. Canaccord Genuity Group upped their target price on Apple from $185.00 to $205.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Apple from $180.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, July 24th. Ten investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and an average target price of $199.41.
Check Out Our Latest Stock Analysis on AAPL
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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