Midwest Heritage Bank FSB bought a new position in Apple Inc. (NASDAQ:AAPL – Get Rating) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,233 shares of the iPhone maker’s stock, valued at approximately $215,000.
Several other institutional investors and hedge funds have also bought and sold shares of AAPL. Cardinal Capital Management Inc. lifted its position in shares of Apple by 5,525.0% during the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock valued at $39,000 after buying an additional 221 shares in the last quarter. Shore Point Advisors LLC purchased a new position in shares of Apple during the 4th quarter valued at about $41,000. St. James Investment Advisors LLC purchased a new position in shares of Apple during the 4th quarter valued at about $57,000. Emerson Wealth LLC lifted its position in shares of 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 buying an additional 320 shares in the last quarter. Finally, Econ Financial Services Corp lifted its position in shares of Apple by 29.1% during the 1st quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock valued at $74,000 after buying an additional 95 shares in the last quarter. 57.98% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on the company. Piper Sandler lowered their price objective on Apple from $200.00 to $195.00 in a research report on Friday, April 29th. Wells Fargo & Company lowered their price objective on Apple from $205.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. The Goldman Sachs Group set a $139.00 price target on Apple in a report on Friday, July 29th. Itaú Unibanco initiated coverage on Apple in a report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price target on the stock. Finally, KeyCorp boosted their price target on Apple from $173.00 to $177.00 and gave the stock an “overweight” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $179.21.
Apple Stock Performance
NASDAQ AAPL opened at $166.13 on Thursday. The company has a market cap of $2.69 trillion, a P/E ratio of 27.41, a P/E/G ratio of 2.09 and a beta of 1.23. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86. The business’s 50 day moving average price is $145.58 and its 200-day moving average price is $157.20. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94.
Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings data 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 company had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. Apple’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.30 EPS. Sell-side analysts predict that Apple Inc. will post 6.11 earnings per share for the current year.
Apple Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Shareholders of record on Monday, August 8th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Friday, August 5th. Apple’s dividend payout ratio (DPR) is presently 15.18%.
Apple declared that its Board of Directors has approved a stock buyback plan on Thursday, April 28th that allows the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to buy up to 3.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
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.
Receive News & Ratings for Apple Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Apple and related companies with MarketBeat.com’s FREE daily email newsletter.