Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 16.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,329 shares of the iPhone maker’s stock after buying an additional 15,603 shares during the quarter. Apple makes up approximately 4.5% of Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ portfolio, making the stock its 2nd biggest position. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Apple were worth $18,915,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Joseph Group Capital Management bought a new stake in Apple in the fourth quarter valued at approximately $1,631,000. Cardinal Capital Management Inc. lifted its position in Apple by 5,525.0% in the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock valued at $39,000 after purchasing an additional 221 shares during the last quarter. Shore Point Advisors LLC bought a new stake in Apple in the fourth quarter valued at approximately $41,000. St. James Investment Advisors LLC bought a new stake in Apple in the fourth quarter valued at approximately $57,000. Finally, Emerson Wealth LLC lifted its position in Apple by 363.6% in the first quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock valued at $71,000 after purchasing an additional 320 shares during the last quarter. Hedge funds and other institutional investors own 57.98% of the company’s stock.
Apple Trading Down 0.1 %
Apple stock opened at $165.35 on Friday. 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 Inc. has a one year low of $129.04 and a one year high of $182.94. The stock has a market capitalization of $2.66 trillion, a PE ratio of 27.29, a price-to-earnings-growth ratio of 2.15 and a beta of 1.23. The business’s fifty day moving average is $146.34 and its 200 day moving average is $157.12.
Apple (NASDAQ:AAPL – Get Rating) last posted its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share 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 company had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. During the same quarter in the prior year, the company earned $1.30 earnings per share. Apple’s revenue was up 1.9% on a year-over-year basis. On average, sell-side analysts predict that Apple Inc. will post 6.1 EPS for the current year.
Apple declared that its board has approved a stock repurchase program on Thursday, April 28th that authorizes the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.
Apple Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 11th. Shareholders of record on Monday, August 8th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Friday, August 5th. Apple’s dividend payout ratio is 15.18%.
Insider Buying and Selling at Apple
In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total value of $4,119,250.00. Following the transaction, the senior vice president now owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
A number of brokerages recently commented on AAPL. Citigroup upped their target price on Apple from $175.00 to $185.00 and gave the company a “buy” rating in a report on Friday, July 29th. Credit Suisse Group set a $166.00 target price on Apple in a report on Friday, July 29th. Oppenheimer restated an “outperform” rating and set a $190.00 target price on shares of Apple in a report on Wednesday, June 8th. Loop Capital decreased their target price on Apple from $210.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, May 25th. Finally, Evercore ISI upped their target price on Apple from $180.00 to $185.00 in a report on Friday, July 29th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average target price of $179.27.
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.