tru Independence LLC Acquires 333 Shares of Apple Inc. (NASDAQ:AAPL)

tru Independence LLC lifted its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 1.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 30,605 shares of the iPhone maker’s stock after purchasing an additional 333 shares during the period. tru Independence LLC’s holdings in Apple were worth $5,344,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in AAPL. Elk River Wealth Management LLC boosted its position in Apple by 49.0% during the 1st quarter. Elk River Wealth Management LLC now owns 167,122 shares of the iPhone maker’s stock valued at $29,181,000 after buying an additional 54,989 shares during the period. Piscataqua Savings Bank boosted its position in Apple by 1.5% during the 1st quarter. Piscataqua Savings Bank now owns 47,546 shares of the iPhone maker’s stock valued at $8,302,000 after buying an additional 684 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in Apple during the 1st quarter valued at $171,000. Fountainhead AM LLC boosted its position in Apple by 11.6% during the 4th quarter. Fountainhead AM LLC now owns 45,544 shares of the iPhone maker’s stock valued at $7,732,000 after buying an additional 4,738 shares during the period. Finally, Primoris Wealth Advisors LLC purchased a new stake in Apple during the 4th quarter valued at $4,282,000. Institutional investors own 57.98% of the company’s stock.

Apple Stock Performance

Shares of AAPL stock opened at $165.81 on Friday. The company has a 50 day moving average price of $146.03 and a 200-day moving average price of $157.15. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94. The firm has a market capitalization of $2.66 trillion, a PE ratio of 27.36, a P/E/G ratio of 2.07 and a beta of 1.23. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. Apple had a net margin of 25.71% and a return on equity of 152.97%. The firm had revenue of $82.96 billion during the quarter, compared to analyst estimates of $82.97 billion. During the same period in the previous year, the business posted $1.30 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, equities research analysts expect that Apple Inc. will post 6.1 earnings per share for the current year.

Apple Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.55%. Apple’s dividend payout ratio is presently 15.18%.

Apple declared that its board has initiated a share repurchase program 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 programs are typically an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have recently commented on AAPL. Wells Fargo & Company dropped their target price on shares of Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, July 20th. Barclays dropped their target price on shares of Apple from $167.00 to $166.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 13th. KeyCorp raised their target price on shares of Apple from $173.00 to $177.00 and gave the stock an “overweight” rating in a research report on Tuesday. Fundamental Research set a $177.07 target price on shares of Apple and gave the stock a “buy” rating in a research report on Thursday. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $190.00 target price on shares of Apple in a research report on Wednesday, June 8th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus target price of $179.27.

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.

Further Reading

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