Bailard Inc. Has $163.35 Million Stake in Apple Inc. (NASDAQ:AAPL)

Bailard Inc. increased its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 0.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 935,537 shares of the iPhone maker’s stock after buying an additional 4,987 shares during the quarter. Apple comprises approximately 5.5% of Bailard Inc.’s holdings, making the stock its largest holding. Bailard Inc.’s holdings in Apple were worth $163,354,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AAPL. Cardinal Capital Management Inc. increased its stake in Apple by 5,525.0% in the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after purchasing an additional 221 shares during the period. Shore Point Advisors LLC purchased a new stake in Apple in the fourth quarter worth $41,000. St. James Investment Advisors LLC purchased a new stake in Apple in the fourth quarter worth $57,000. Econ Financial Services Corp purchased a new stake in Apple in the fourth quarter worth $58,000. Finally, Emerson Wealth LLC increased its stake in Apple by 363.6% in the first quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after purchasing an additional 320 shares during the period. 57.98% of the stock is currently owned by institutional investors.

Apple Trading Down 0.7 %

Apple stock opened at $152.95 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 1.53. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94. The stock’s 50 day simple moving average is $143.05 and its two-hundred day simple moving average is $157.67. The firm has a market cap of $2.48 trillion, a PE ratio of 24.83, a P/E/G ratio of 2.00 and a beta of 1.19.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings data on Thursday, April 28th. The iPhone maker reported $1.52 EPS for the quarter, topping the consensus estimate of $1.43 by $0.09. Apple had a return on equity of 152.88% and a net margin of 26.41%. The business had revenue of $97.28 billion for the quarter, compared to analyst estimates of $93.99 billion. During the same quarter in the prior year, the firm posted $1.40 EPS. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. Analysts anticipate that Apple Inc. will post 6.09 earnings per share for the current year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 12th. Shareholders of record on Monday, May 9th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.60%. The ex-dividend date was Friday, May 6th. This is a positive change from Apple’s previous quarterly dividend of $0.22. Apple’s dividend payout ratio is currently 14.94%.

Apple declared that its Board of Directors has authorized a stock buyback program on Thursday, April 28th that allows the company to buyback $90.00 billion in shares. This buyback authorization allows the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have recently commented on AAPL. Rosenblatt Securities cut their price target on Apple from $184.00 to $168.00 and set a “neutral” rating on the stock in a research note on Monday, May 2nd. Deutsche Bank Aktiengesellschaft cut their price target on Apple from $200.00 to $175.00 in a research note on Tuesday, June 14th. Bank of America cut their price target on Apple from $215.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, May 19th. Piper Sandler cut their price target on Apple from $200.00 to $195.00 in a research note on Friday, April 29th. Finally, Wells Fargo & Company cut their target price on Apple from $205.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 20th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $182.73.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $161.72, for a total value of $4,043,000.00. Following the sale, the senior vice president now owns 452,334 shares in the company, valued at approximately $73,151,454.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.06% of the company’s stock.

About Apple

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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