Baldwin Brothers LLC MA lessened its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 3.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 442,102 shares of the iPhone maker’s stock after selling 13,934 shares during the period. Apple comprises 7.0% of Baldwin Brothers LLC MA’s portfolio, making the stock its biggest holding. Baldwin Brothers LLC MA’s holdings in Apple were worth $85,754,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in the stock. Atlantic Private Wealth LLC bought a new position in Apple during the first quarter worth about $30,000. St. James Investment Advisors LLC lifted its stake in Apple by 98.3% during 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 during the period. Summit Wealth Group LLC lifted its stake in Apple by 16,252.3% during the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 6,949,659 shares during the period. HBC Financial Services PLLC lifted its stake in Apple by 21.7% during 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 during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Apple by 12.6% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,103 shares of the iPhone maker’s stock worth $143,000 after purchasing an additional 123 shares during the period. Institutional investors own 58.51% of the company’s stock.
Wall Street Analyst Weigh In
AAPL has been the subject of a number of analyst reports. Needham & Company LLC restated a “buy” rating and set a $195.00 price target on shares of Apple in a research note on Wednesday, September 13th. Tigress Financial raised their price target on shares of Apple from $210.00 to $225.00 in a research note on Friday, June 23rd. Sanford C. Bernstein raised their price objective on shares of Apple from $175.00 to $195.00 and gave the stock a “market perform” rating in a report on Thursday, July 27th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Apple from $180.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, July 24th. Finally, The Goldman Sachs Group dropped their price objective on shares of Apple from $222.00 to $216.00 and set a “buy” rating for the company in a report on Wednesday, September 13th. Nine investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average price target of $200.54.
Insiders Place Their Bets
In other Apple news, SVP Deirdre O’brien sold 15,419 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $178.56, for a total transaction of $2,753,216.64. Following the sale, the senior vice president now directly owns 136,445 shares of the company’s stock, valued at approximately $24,363,619.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.06% of the company’s stock.
Apple Trading Up 1.5 %
Shares of NASDAQ AAPL opened at $173.75 on Tuesday. The company’s fifty day moving average is $180.84 and its 200-day moving average is $177.39. The stock has a market cap of $2.72 trillion, a price-to-earnings ratio of 29.20, a P/E/G ratio of 2.50 and a beta of 1.28. Apple Inc. has a twelve month low of $124.17 and a twelve month high of $198.23. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.63.
Apple (NASDAQ:AAPL – Get Free Report) last issued its quarterly earnings results 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 net margin of 24.68% and a return on equity of 164.92%. The firm had revenue of $81.80 billion for the quarter, compared to analysts’ expectations of $81.79 billion. During the same period in the previous year, the firm posted $1.20 EPS. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. Equities research analysts predict that Apple Inc. will post 6.05 EPS 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 given a dividend of $0.24 per share. The ex-dividend date was Friday, August 11th. This represents a $0.96 annualized dividend and a yield of 0.55%. 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.
Featured Articles
- Five stocks we like better than Apple
- How to Invest in Lithium and Lithium Stocks
- Here’s Why Cloudflare may be the Ultimate Cloud Stock to Own
- Business Services Stocks Investing
- 5 Reasons Why Arcos Dorados Is A Perfect Investment for 2024
- How to Invest in Semiconductors
- Nvidia Stock, Christmas Comes Early If You’re On the Fence
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.
