Verdence Capital Advisors LLC lifted its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 6.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 211,242 shares of the iPhone maker’s stock after buying an additional 13,010 shares during the quarter. Apple comprises approximately 4.2% of Verdence Capital Advisors LLC’s holdings, making the stock its largest position. Verdence Capital Advisors LLC’s holdings in Apple were worth $36,885,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Bailey Value Limited Partnership acquired a new position in shares of Apple in the 4th quarter valued at $10,654,000. Qube Research & Technologies Ltd grew its holdings in Apple by 145.8% during the 4th quarter. Qube Research & Technologies Ltd now owns 643,206 shares of the iPhone maker’s stock worth $114,214,000 after acquiring an additional 381,507 shares during the last quarter. TAGStone Capital Inc. bought a new stake in Apple during the 4th quarter worth about $306,000. Quadrant Capital Group LLC lifted its position in Apple by 5.1% during the 4th quarter. Quadrant Capital Group LLC now owns 181,735 shares of the iPhone maker’s stock valued at $32,271,000 after purchasing an additional 8,894 shares during the period. Finally, Morningstar Investment Management LLC acquired a new position in Apple during the 4th quarter valued at about $12,911,000. 57.62% of the stock is currently owned by institutional investors and hedge funds.
Apple Trading Up 0.6 %
Shares of AAPL stock opened at $173.19 on Tuesday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. The stock’s 50 day simple moving average is $148.80 and its two-hundred day simple moving average is $157.29. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The company has a market cap of $2.78 trillion, a PE ratio of 28.58, a price-to-earnings-growth ratio of 2.23 and a beta of 1.23.
Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.06. The company had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. Apple’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.30 earnings per share. Research analysts predict that Apple Inc. will post 6.1 earnings per share for the current year.
Apple Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were given a dividend of $0.23 per share. The ex-dividend date was Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 0.53%. Apple’s dividend payout ratio is currently 15.18%.
Apple announced that its board has initiated a share repurchase plan on Thursday, April 28th that authorizes the company to repurchase $90.00 billion in shares. This repurchase authorization authorizes the iPhone maker to purchase up to 3.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on the stock. UBS Group set a $185.00 price target on shares of Apple in a research report on Thursday, July 21st. Fundamental Research set a $177.07 price target on shares of Apple and gave the stock a “buy” rating in a research note on Thursday, August 4th. Oppenheimer reissued an “outperform” rating and issued a $190.00 target price on shares of Apple in a research note on Wednesday, June 8th. Credit Suisse Group set a $166.00 price objective on shares of Apple in a research report on Friday, July 29th. Finally, Evercore ISI lifted their price objective on shares of Apple from $180.00 to $185.00 in a research report on Friday, July 29th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $179.27.
Insiders Place Their Bets
In other news, SVP Katherine L. Adams sold 25,000 shares of the business’s 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 completion of the transaction, the senior vice president now owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.06% of the stock is currently owned by insiders.
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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