TruWealth Advisors LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 4.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 162,579 shares of the iPhone maker’s stock after acquiring an additional 7,061 shares during the quarter. Apple makes up about 3.0% of TruWealth Advisors LLC’s investment portfolio, making the stock its 8th biggest position. TruWealth Advisors LLC’s holdings in Apple were worth $28,388,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in AAPL. Daniels&Tansey LLP boosted its position in Apple by 1.6% during 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 raised its stake in shares of Apple by 0.3% during the 1st quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock worth $3,181,000 after purchasing an additional 61 shares in the last quarter. Goodwin Daniel L raised its stake in shares of Apple by 0.5% during the 1st quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock worth $2,230,000 after purchasing an additional 62 shares in the last quarter. Opus Capital Group LLC raised its stake in shares of Apple by 0.3% during 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 stake in shares of Apple by 0.9% during 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. 57.98% of the stock is owned by institutional investors and hedge funds.
Apple Trading Down 0.9 %
NASDAQ AAPL opened at $160.01 on Wednesday. The stock has a 50-day simple moving average of $145.07 and a 200 day simple moving average of $157.14. The company has a market capitalization of $2.59 trillion, a PE ratio of 26.40, a P/E/G 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. 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 earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. 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 earned $1.30 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. Research analysts forecast that Apple Inc. will post 6.08 EPS for the current year.
Apple declared that its board has initiated 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 shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
Apple Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 11th. Shareholders of record on Monday, August 8th will be paid a $0.23 dividend. The ex-dividend date is Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 0.57%. Apple’s payout ratio is 15.18%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on AAPL shares. Piper Sandler cut their price target on Apple from $200.00 to $195.00 in a research note on Friday, April 29th. Citigroup raised their price objective on Apple from $175.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, July 29th. The Goldman Sachs Group set a $139.00 price objective on Apple in a research note on Friday, July 29th. JPMorgan Chase & Co. set a $200.00 price objective on Apple in a research note on Monday, July 25th. Finally, Barclays raised their price objective on Apple from $166.00 to $169.00 and gave the company a “maintains” rating in a research note on Friday, July 29th. Two investment 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $179.16.
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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