Vahanian & Associates Financial Planning Inc. lowered its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 43.3% in the 1st quarter, Holdings Channel.com reports. The fund owned 23,914 shares of the iPhone maker’s stock after selling 18,269 shares during the quarter. Apple comprises approximately 9.7% of Vahanian & Associates Financial Planning Inc.’s portfolio, making the stock its largest holding. Vahanian & Associates Financial Planning Inc.’s holdings in Apple were worth $4,176,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Cardinal Capital Management Inc. boosted its stake in shares of 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 purchased a new position in shares of Apple in the fourth quarter valued at $41,000. St. James Investment Advisors LLC purchased a new position in shares of Apple in the fourth quarter valued at $57,000. Econ Financial Services Corp purchased a new position in shares of Apple in the fourth quarter valued at $58,000. Finally, Emerson Wealth LLC boosted its stake in Apple by 363.6% during the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock valued at $71,000 after acquiring an additional 320 shares during the last quarter. Institutional investors and hedge funds own 57.98% of the company’s stock.
Insider Transactions at Apple
In other 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 transaction, the senior vice president now owns 452,334 shares of the company’s stock, valued at approximately $73,151,454.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.06% of the company’s stock.
Analysts Set New Price Targets
AAPL has been the topic of a number of research analyst reports. set a $175.00 price objective on shares of Apple in a research note on Friday. UBS Group set a $185.00 price objective on shares of Apple in a research note on Thursday, July 21st. JPMorgan Chase & Co. set a $200.00 price objective on shares of Apple in a research note on Monday, July 25th. Oppenheimer reiterated an “outperform” rating and set a $190.00 price objective on shares of Apple in a research note on Wednesday, June 8th. Finally, Rosenblatt Securities reduced their price objective on shares of Apple from $168.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $179.04.
Apple Stock Down 0.6 %
Apple stock opened at $161.51 on Tuesday. The stock has a market cap of $2.61 trillion, a price-to-earnings ratio of 26.65, a PEG ratio of 2.11 and a beta of 1.23. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63. The company’s 50-day moving average price is $144.68 and its two-hundred day moving average price is $157.12. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94.
Apple (NASDAQ:AAPL – Get Rating) last released its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.14 by $0.06. The firm had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. Apple’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the company earned $1.30 EPS. On average, analysts expect that Apple Inc. will post 6.08 EPS for the current fiscal year.
Apple declared that its Board of Directors has approved a stock repurchase program on Thursday, April 28th that permits the company to repurchase $90.00 billion in shares. This repurchase authorization permits the iPhone maker to purchase up to 3.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
Apple Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Monday, August 8th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 0.57%. Apple’s dividend payout ratio is currently 15.18%.
Apple Company Profile
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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