Apple Inc. (NASDAQ:AAPL) is Fragasso Group Inc.’s 4th Largest Position

Fragasso Group Inc. reduced its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 0.4% in the first quarter, Holdings Channel.com reports. The fund owned 260,330 shares of the iPhone maker’s stock after selling 966 shares during the period. Apple makes up about 5.4% of Fragasso Group Inc.’s investment portfolio, making the stock its 4th largest position. Fragasso Group Inc.’s holdings in Apple were worth $45,456,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AAPL. Dark Forest Capital Management LP purchased a new position in Apple in the 3rd quarter worth approximately $29,000. Shore Point Advisors LLC purchased a new position in Apple in the 4th quarter worth approximately $41,000. St. James Investment Advisors LLC purchased a new position in Apple in the 4th quarter worth approximately $57,000. Econ Financial Services Corp purchased a new position in Apple in the 4th quarter worth approximately $58,000. Finally, Spence Asset Management purchased a new position in Apple in the 4th quarter worth approximately $63,000. Institutional investors own 57.98% of the company’s stock.

Shares of AAPL stock opened at $135.35 on Thursday. The stock has a market cap of $2.19 trillion, a P/E ratio of 21.97, a PEG ratio of 1.72 and a beta of 1.20. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 1.53. The company’s fifty day simple moving average is $149.10 and its two-hundred day simple moving average is $162.75.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The iPhone maker reported $1.52 EPS for the quarter, topping the consensus estimate of $1.43 by $0.09. The business had revenue of $97.28 billion for 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 business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.40 EPS. On average, analysts anticipate that Apple Inc. will post 6.11 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, May 12th. Shareholders of record on Monday, May 9th were paid a $0.23 dividend. The ex-dividend date was Friday, May 6th. This represents a $0.92 annualized dividend and a yield of 0.68%. This is a boost from Apple’s previous quarterly dividend of $0.22. Apple’s payout ratio is presently 14.94%.

Apple announced that its Board of Directors has initiated a stock repurchase plan on Thursday, April 28th that allows the company to buyback $90.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to repurchase up to 3.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

A number of equities analysts recently weighed in on AAPL shares. Fundamental Research decreased their price objective on shares of Apple from $179.32 to $175.24 and set an “average” rating for the company in a report on Friday, May 6th. Oppenheimer reaffirmed an “outperform” rating and issued a $190.00 target price on shares of Apple in a research report on Wednesday, June 8th. Evercore ISI began coverage on shares of Apple in a research report on Friday, March 25th. They issued a “buy” rating and a $210.00 target price for the company. StockNews.com began coverage on shares of Apple in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. set a $200.00 target price on shares of Apple in a research report on Monday. Nine 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $186.55.

In other news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the sale, the senior vice president now directly owns 452,334 shares in the company, valued at approximately $73,151,454.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Deirdre O’brien sold 29,198 shares of the company’s stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $177.77, for a total transaction of $5,190,528.46. Following the sale, the senior vice president now owns 136,290 shares in the company, valued at $24,228,273.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 168,099 shares of company stock worth $29,376,711. Corporate insiders own 0.06% of the company’s stock.

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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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