Helen Stephens Group LLC trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.0% during the 1st quarter, Holdings Channel reports. The fund owned 12,195 shares of the iPhone maker’s stock after selling 118 shares during the quarter. Apple makes up about 1.5% of Helen Stephens Group LLC’s investment portfolio, making the stock its 15th largest position. Helen Stephens Group LLC’s holdings in Apple were worth $2,129,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of AAPL. Joseph Group Capital Management acquired a new stake in Apple in the fourth quarter valued at approximately $1,631,000. Cardinal Capital Management Inc. grew its holdings in Apple by 5,525.0% in the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock valued at $39,000 after purchasing an additional 221 shares during the period. Shore Point Advisors LLC acquired a new stake in Apple in the fourth quarter valued at approximately $41,000. St. James Investment Advisors LLC acquired a new stake in Apple in the fourth quarter valued at approximately $57,000. Finally, Econ Financial Services Corp acquired a new stake in Apple in the fourth quarter valued at approximately $58,000. 57.98% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Apple news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the completion of the sale, the senior vice president now directly owns 452,334 shares of the company’s stock, valued at approximately $73,151,454.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is owned by company insiders.
Apple Trading Up 3.3 %
AAPL opened at $162.51 on Monday. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94. The stock has a market capitalization of $2.63 trillion, a price-to-earnings ratio of 26.38, a PEG ratio of 1.97 and a beta of 1.19. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.93 and a quick ratio of 0.88. The business has a fifty day moving average price of $144.31 and a 200 day moving average price of $157.20.
Apple (NASDAQ:AAPL – Get Rating) last released its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping the consensus estimate of $1.14 by $0.06. Apple had a return on equity of 152.88% and a net margin of 26.41%. The firm had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. During the same period in the previous year, the firm posted $1.30 EPS. Apple’s revenue for the quarter was up 1.9% on a year-over-year basis. Sell-side analysts expect that Apple Inc. will post 6.09 earnings per share for the current fiscal year.
Apple announced that its board has authorized a stock buyback plan on Thursday, April 28th that permits the company to repurchase $90.00 billion in shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.
Apple Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Shareholders of record on Monday, August 8th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Friday, August 5th. Apple’s dividend payout ratio (DPR) is 14.94%.
Wall Street Analysts Forecast Growth
Several analysts have commented on AAPL shares. JPMorgan Chase & Co. set a $200.00 price objective on Apple in a report on Monday, July 25th. Fundamental Research decreased their target price on Apple from $179.32 to $175.24 and set an “average” rating on the stock in a research report on Friday, May 6th. The Goldman Sachs Group set a $139.00 target price on Apple in a research report on Friday. Citigroup raised their target price on Apple from $175.00 to $185.00 and gave the company a “buy” rating in a research report on Friday. Finally, Morgan Stanley reduced their price objective on Apple from $185.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $179.04.
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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