Winning Points Advisors LLC boosted its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 278.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 191,865 shares of the iPhone maker’s stock after purchasing an additional 141,218 shares during the period. Apple comprises approximately 26.0% of Winning Points Advisors LLC’s investment portfolio, making the stock its biggest position. Winning Points Advisors LLC’s holdings in Apple were worth $33,512,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Cardinal Capital Management Inc. grew its holdings in Apple by 5,525.0% during the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after acquiring an additional 221 shares during the period. Shore Point Advisors LLC acquired a new stake in Apple during the 4th quarter worth about $41,000. St. James Investment Advisors LLC acquired a new stake in Apple during the 4th quarter worth about $57,000. Econ Financial Services Corp acquired a new stake in Apple during the 4th quarter worth about $58,000. Finally, Emerson Wealth LLC grew its holdings in Apple by 363.6% during the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after acquiring an additional 320 shares during the period. 57.98% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction that occurred on Wednesday, May 4th. The shares were 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 of the company’s stock, valued at approximately $73,151,454.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on AAPL. KeyCorp decreased their price target on Apple from $191.00 to $173.00 and set an “overweight” rating for the company in a report on Tuesday, July 12th. Oppenheimer restated an “outperform” rating and issued a $190.00 target price on shares of Apple in a research note on Wednesday, June 8th. Itaú Unibanco began coverage on Apple in a research note on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 target price for the company. Evercore ISI raised their target price on Apple from $180.00 to $185.00 in a research note on Friday. Finally, Deutsche Bank Rese… set a $175.00 target price on Apple in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $179.04.
Apple Trading Up 3.3 %
NASDAQ:AAPL opened at $162.51 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $2.63 trillion, a PE ratio of 26.38, a price-to-earnings-growth ratio of 1.97 and a beta of 1.19. The firm’s 50 day moving average is $144.31 and its 200 day moving average is $157.20. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94.
Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. The company had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a net margin of 26.41% and a return on equity of 152.88%. Apple’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.30 EPS. Sell-side analysts expect that Apple Inc. will post 6.09 earnings per share for the current year.
Apple declared that its board has authorized a share repurchase plan on Thursday, April 28th that allows the company to repurchase $90.00 billion in shares. This repurchase authorization allows the iPhone maker to purchase up to 3.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
Apple Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Monday, August 8th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.57%. Apple’s dividend payout ratio (DPR) is presently 14.94%.
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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