Apple Inc. (NASDAQ:AAPL) Holdings Lifted by Wealthpoint LLC

Wealthpoint LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 5.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 88,478 shares of the iPhone maker’s stock after buying an additional 4,428 shares during the quarter. Apple makes up 5.4% of Wealthpoint LLC’s investment portfolio, making the stock its 3rd largest position. Wealthpoint LLC’s holdings in Apple were worth $15,449,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Daniels&Tansey LLP grew its position in shares of Apple by 1.6% during the fourth quarter. Daniels&Tansey LLP now owns 3,858 shares of the iPhone maker’s stock worth $685,000 after buying an additional 60 shares in the last quarter. Donald L. Hagan LLC grew its holdings in Apple by 0.3% during the 1st quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock worth $3,181,000 after acquiring an additional 61 shares in the last quarter. Goodwin Daniel L increased its position in shares of Apple by 0.5% in the 1st quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock worth $2,230,000 after purchasing an additional 62 shares during the last quarter. Opus Capital Group LLC raised its stake in shares of Apple by 0.3% in the 1st quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock valued at $3,332,000 after purchasing an additional 63 shares in the last quarter. Finally, Norwood Financial Corp lifted its position in shares of Apple by 0.9% during the first quarter. Norwood Financial Corp now owns 7,025 shares of the iPhone maker’s stock worth $1,227,000 after purchasing an additional 65 shares during the last quarter. Institutional investors and hedge funds own 57.98% of the company’s stock.

Apple Price Performance

NASDAQ:AAPL opened at $160.01 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63. The business’s 50-day moving average price is $145.07 and its 200 day moving average price is $157.14. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94. The firm has a market cap of $2.59 trillion, a P/E ratio of 26.40, a PEG ratio of 2.11 and a beta of 1.23.

Apple (NASDAQ:AAPLGet 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. Apple had a net margin of 25.71% and a return on equity of 152.97%. The company had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. During the same quarter in the previous year, the company posted $1.30 EPS. The business’s revenue was up 1.9% compared to the same quarter last year. As a group, sell-side analysts predict that Apple Inc. will post 6.08 earnings per share for the current fiscal year.

Apple announced that its Board of Directors has approved a stock repurchase plan on Thursday, April 28th that authorizes the company to buyback $90.00 billion in shares. This buyback authorization authorizes the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Monday, August 8th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Friday, August 5th. Apple’s dividend payout ratio is presently 15.18%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Sanford C. Bernstein set a $170.00 price objective on Apple in a report on Monday, May 2nd. Wells Fargo & Company dropped their price target on Apple from $205.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. JPMorgan Chase & Co. set a $200.00 price objective on shares of Apple in a report on Monday, July 25th. Rosenblatt Securities dropped their target price on shares of Apple from $168.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, July 29th. Finally, Credit Suisse Group set a $166.00 price target on shares of Apple in a report on Friday, July 29th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus target price of $179.16.

Apple Company Profile

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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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