Campbell Newman Asset Management Inc. decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.3% during the 1st quarter, HoldingsChannel.com reports. The fund owned 496,282 shares of the iPhone maker’s stock after selling 1,295 shares during the period. Apple makes up about 8.3% of Campbell Newman Asset Management Inc.’s portfolio, making the stock its biggest holding. Campbell Newman Asset Management Inc.’s holdings in Apple were worth $86,656,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Daniels&Tansey LLP lifted its stake in shares of Apple by 1.6% in the 4th quarter. Daniels&Tansey LLP now owns 3,858 shares of the iPhone maker’s stock worth $685,000 after acquiring an additional 60 shares during the period. Donald L. Hagan LLC lifted its stake in shares of Apple by 0.3% in the 1st quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock worth $3,181,000 after acquiring an additional 61 shares during the period. Goodwin Daniel L lifted its stake in shares of Apple by 0.5% in the 1st quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock worth $2,230,000 after acquiring an additional 62 shares during the period. Opus Capital Group LLC raised its holdings in shares of Apple by 0.3% in the 1st quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock worth $3,332,000 after purchasing an additional 63 shares in the last quarter. Finally, Norwood Financial Corp raised its holdings in shares of Apple by 0.9% in the 1st quarter. Norwood Financial Corp now owns 7,025 shares of the iPhone maker’s stock worth $1,227,000 after purchasing an additional 65 shares in the last quarter. Institutional investors and hedge funds own 57.98% of the company’s stock.
Apple Price Performance
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 company has a fifty day simple moving average of $144.31 and a 200 day simple moving average of $157.20. The company has a market cap of $2.63 trillion, a P/E ratio of 26.38, a P/E/G ratio of 1.97 and a beta of 1.19. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94.
Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.06. The business had revenue of $82.96 billion during the quarter, compared to the consensus estimate of $82.97 billion. Apple had a net margin of 26.41% and a return on equity of 152.88%. Apple’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.30 EPS. On average, sell-side analysts predict that Apple Inc. will post 6.09 EPS for the current year.
Apple Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Monday, August 8th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Friday, August 5th. Apple’s dividend payout ratio is currently 14.94%.
Apple declared that its Board of Directors has initiated a stock repurchase plan on Thursday, April 28th that permits the company to buyback $90.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to repurchase up to 3.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
Analyst Ratings Changes
AAPL has been the topic of a number of research reports. KeyCorp dropped their target price on shares of Apple from $191.00 to $173.00 and set an “overweight” rating on the stock in a report on Tuesday, July 12th. Sanford C. Bernstein set a $170.00 target price on shares of Apple in a report on Monday, May 2nd. Credit Suisse Group set a $166.00 target price on shares of Apple in a report on Friday. Evercore ISI boosted their target price on shares of Apple from $180.00 to $185.00 in a report on Friday. Finally, Piper Sandler dropped their target price on shares of Apple from $200.00 to $195.00 in a report on Friday, April 29th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $179.04.
Insider Activity at Apple
In related news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the completion of the transaction, the senior vice president now directly owns 452,334 shares in the company, valued at approximately $73,151,454.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.06% of the company’s stock.
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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