AAFMAA Wealth Management & Trust LLC increased its position in shares of Apple Inc. (NASDAQ: AAPL – Get Rating) by 1.2% during the 1st quarter, Holdings Channel reports. The firm owned 60,225 shares of the iPhone maker’s stock after purchasing an additional 722 shares during the quarter. Apple makes up approximately 4.8% of AAFMAA Wealth Management & Trust LLC’s holdings, making the stock its largest holding. AAFMAA Wealth Management & Trust LLC’s holdings in Apple were worth $ 10,516,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in AAPL. Dark Forest Capital Management LP purchased a new position in Apple in the third quarter valued at about $ 29,000. Joseph Group Capital Management purchased a new position in Apple in the fourth quarter valued at about $ 1,631,000. Shore Point Advisors LLC purchased a new position in Apple in the fourth quarter valued at about $ 41,000. St. James Investment Advisors LLC purchased a new position in Apple in the fourth quarter valued at about $ 57,000. Finally, Econ Financial Services Corp bought a new stake in shares of Apple in the fourth quarter valued at approximately $ 58,000. Institutional investors and hedge funds own 57.98% of the company’s stock.
Shares of Apple stock opened at $ 138.27 on Friday. The stock has a market capitalization of $ 2.24 trillion, a price-to-earnings ratio of 22.45, a price-to-earnings-growth ratio of 1.78 and a beta of 1.20. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.88 and a current ratio of 0.93. The company has a fifty day moving average of $ 148.56 and a 200-day moving average of $ 162.56. Apple Inc. has a 52-week low of $ 129.04 and a 52-week high of $ 182.94.
Apple (NASDAQ: AAPL – Get Rating) last announced its quarterly earnings results on Thursday, April 28th. The iPhone maker reported $ 1.52 earnings per share for the quarter, beating the consensus estimate of $ 1.43 by $ 0.09. The business had revenue of $ 97.28 billion during the quarter, compared to analysts’ expectations of $ 93.99 billion. Apple had a net margin of 26.41% and a return on equity of 152.88%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $ 1.40 EPS. On average, equities research analysts forecast that Apple Inc. will post 6.11 earnings per share for the current fiscal year.
Apple declared that its Board of Directors has approved a stock buyback program 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 programs are often a sign that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Thursday, May 12th. Shareholders of record on Monday, May 9th were given a dividend of $ 0.23 per share. The ex-dividend date of this dividend was Friday, May 6th. This represents a $ 0.92 annualized dividend and a yield of 0.67%. This is a boost from Apple’s previous quarterly dividend of $ 0.22. Apple’s dividend payout ratio is currently 14.94%.
In other Apple news, COO Jeffrey E. Williams sold 105,901 shares of the company’s stock in a transaction on Monday, April 4th. The shares were sold at an average price of $ 177.75, for a total value of $ 18,823,902.75. Following the completion of the transaction, the chief operating officer now directly owns 489,662 shares in the company, valued at approximately $ 87,037,420.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Deirdre O’brien sold 29,198 shares of the company’s stock in a transaction on Monday, April 4th. The stock was sold at an average price of $ 177.77, for a total transaction of $ 5,190,528.46. Following the completion of the transaction, the senior vice president now owns 136,290 shares of the company’s stock, valued at $ 24,228,273.30. The disclosure for this sale can be found here. Insiders have sold a total of 168,099 shares of company stock valued at $ 29,376,711 in the last three months. 0.06% of the stock is currently owned by corporate insiders.
Several research firms have recently issued reports on AAPL. StockNews.com began coverage on shares of Apple in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Morgan Stanley lowered their price target on shares of Apple from $ 195.00 to $ 185.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 14th. Fundamental Research lowered their price target on shares of Apple from $ 179.32 to $ 175.24 and set an “average” rating on the stock in a research report on Friday, May 6th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Apple from $ 200.00 to $ 175.00 in a research report on Tuesday, June 14th. Finally, Credit Suisse Group set a $ 169.00 target price on shares of Apple in a report on Friday, April 29th. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $ 186.55.
Apple 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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