Summit Financial Group Inc. lessened its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 1.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,709 shares of the iPhone maker’s stock after selling 431 shares during the quarter. Apple makes up 1.9% of Summit Financial Group Inc.’s holdings, making the stock its 11th largest holding. Summit Financial Group Inc.’s holdings in Apple were worth $4,987,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of AAPL. Moneta Group Investment Advisors LLC grew its position in 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 valued at $74,002,245,000 after acquiring an additional 569,066,184 shares during the last quarter. Norges Bank bought a new position in Apple in the 4th quarter valued at $21,746,940,000. Morgan Stanley grew its position in Apple by 14.2% in the 4th quarter. Morgan Stanley now owns 208,655,323 shares of the iPhone maker’s stock valued at $27,110,586,000 after acquiring an additional 25,926,552 shares during the last quarter. Berkshire Hathaway Inc grew its position in Apple by 2.3% in the 1st quarter. Berkshire Hathaway Inc now owns 915,560,382 shares of the iPhone maker’s stock valued at $150,975,907,000 after acquiring an additional 20,424,207 shares during the last quarter. Finally, Providence Capital Advisors LLC grew its position in Apple by 16,638.6% in the 1st quarter. Providence Capital Advisors LLC now owns 15,593,974 shares of the iPhone maker’s stock valued at $94,566,000 after acquiring an additional 15,500,812 shares during the last quarter. Institutional investors own 58.51% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on AAPL shares. Robert W. Baird upped their price objective on Apple from $180.00 to $204.00 and gave the company an “outperform” rating in a research report on Tuesday, August 1st. Sanford C. Bernstein increased their price target on Apple from $175.00 to $195.00 and gave the stock a “market perform” rating in a research report on Thursday, July 27th. Canaccord Genuity Group increased their price target on Apple from $185.00 to $205.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Piper Jaffray Companies increased their price target on Apple from $180.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, July 31st. Finally, Wedbush increased their price target on Apple from $230.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 13th. Ten research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $199.41.
Insider Activity
In other news, SVP Deirdre O’brien sold 15,419 shares of the firm’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 value of $2,753,216.64. Following the transaction, 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 is accessible through this hyperlink. Company insiders own 0.06% of the company’s stock.
Apple Stock Up 0.3 %
Shares of AAPL opened at $171.21 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 stock’s 50 day moving average is $181.22 and its two-hundred day moving average is $176.93. The firm has a market cap of $2.68 trillion, a P/E ratio of 28.77, a PEG ratio of 2.48 and a beta of 1.27.
Apple (NASDAQ:AAPL – Get Free Report) last released its earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.07. The business had revenue of $81.80 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business posted $1.20 earnings per share. Analysts predict that Apple Inc. will post 6.05 earnings per share for the current fiscal year.
Apple Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were given 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 (DPR) is presently 16.13%.
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.
Read More
- Five stocks we like better than Apple
- 3 Small Caps With Big Return Potential
- CarMax Slides On Earnings Disappointment, Time To Celebrate?
- How to Start Investing in Penny Stocks
- The Next Stage Of Google’s Rally Just Started
- How to Invest and Trade Chinese Stocks
- Can Investors Win the Race with Dividend Achiever Nike?
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.
