Apple Inc. (NASDAQ:AAPL) Shares Sold by JMG Financial Group Ltd.

JMG Financial Group Ltd. lowered its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 50.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,406 shares of the iPhone maker’s stock after selling 1,406 shares during the period. JMG Financial Group Ltd.’s holdings in Apple were worth $246,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AAPL. TL Private Wealth acquired a new stake in Apple in the fourth quarter valued at approximately $205,000. Atticus Wealth Management LLC grew its holdings in Apple by 0.7% during the 4th quarter. Atticus Wealth Management LLC now owns 53,292 shares of the iPhone maker’s stock valued at $9,463,000 after purchasing an additional 352 shares in the last quarter. Riverstone Advisors LLC lifted its holdings in Apple by 50.9% in the 4th quarter. Riverstone Advisors LLC now owns 17,526 shares of the iPhone maker’s stock worth $3,080,000 after buying an additional 5,914 shares in the last quarter. Helen Stephens Group LLC purchased a new position in Apple in the 4th quarter valued at about $2,186,000. Finally, Index Fund Advisors Inc. acquired a new stake in shares of Apple during the fourth quarter valued at about $16,821,000. Institutional investors and hedge funds own 57.98% of the company’s stock.

Apple Stock Down 0.9 %

NASDAQ AAPL opened at $160.01 on Wednesday. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94. The company has a market capitalization of $2.59 trillion, a P/E ratio of 26.40, a PEG ratio of 2.11 and a beta of 1.23. The company’s 50 day simple moving average is $145.07 and its 200 day simple moving average is $157.14. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82.

Apple (NASDAQ:AAPLGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The company had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. During the same quarter in the prior year, the company earned $1.30 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. Equities research analysts expect that Apple Inc. will post 6.08 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders 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 is Friday, August 5th. Apple’s dividend payout ratio is 15.18%.

Apple announced that its board has initiated a stock buyback program on Thursday, April 28th that authorizes the company to buyback $90.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to buy up to 3.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. set a $175.00 price target on Apple in a report on Friday, July 29th. JPMorgan Chase & Co. set a $200.00 price target on shares of Apple in a research report on Monday, July 25th. Evercore ISI upped their price target on shares of Apple from $180.00 to $185.00 in a report on Friday, July 29th. Piper Sandler dropped their target price on shares of Apple from $200.00 to $195.00 in a research report on Friday, April 29th. Finally, Morgan Stanley cut their target price on shares of Apple from $185.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 20th. Two 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 assigned 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 a consensus target price of $179.16.

Apple Company Profile

(Get Rating)

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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