Cambridge Investment Research Advisors Inc. Purchases 16,889 Shares of Apple Inc. (NASDAQ:AAPL)

Cambridge Investment Research Advisors Inc. grew its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 0.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,112,900 shares of the iPhone maker’s stock after acquiring an additional 16,889 shares during the quarter. Apple comprises approximately 4.1% of Cambridge Investment Research Advisors Inc.’s portfolio, making the stock its biggest position. Cambridge Investment Research Advisors Inc.’s holdings in Apple were worth $892,763,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AAPL. Cardinal Capital Management Inc. increased its holdings in shares of 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 period. Shore Point Advisors LLC purchased a new position in Apple in the 4th quarter valued at $41,000. HBC Financial Services PLLC raised its position in Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after buying an additional 80 shares during the last quarter. Emerson Wealth LLC lifted its stake in shares of Apple by 363.6% in the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after acquiring an additional 320 shares during the period. Finally, Econ Financial Services Corp boosted its holdings in shares of Apple by 29.1% in the first quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock valued at $74,000 after acquiring an additional 95 shares in the last quarter. 57.72% of the stock is currently owned by hedge funds and other institutional investors.

Apple Price Performance

NASDAQ AAPL opened at $155.96 on Thursday. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94. The stock’s 50-day moving average is $157.75 and its two-hundred day moving average is $156.51. The firm has a market cap of $2.51 trillion, a P/E ratio of 25.74, a price-to-earnings-growth ratio of 2.02 and a beta of 1.23. 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 (NASDAQ:AAPLGet Rating) last released its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $82.97 billion. During the same quarter last year, the firm posted $1.30 earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, analysts anticipate that Apple Inc. will post 6.1 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were given a $0.23 dividend. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 0.59%. Apple’s dividend payout ratio is 15.18%.

Insider Buying and Selling

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of the sale, the senior vice president now directly 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 available through the SEC website. In related news, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the completion of the transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at $19,362,241.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the sale, the senior vice president now owns 427,334 shares in the company, valued at approximately $70,411,823.18. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on AAPL. Sanford C. Bernstein set a $170.00 target price on shares of Apple in a research report on Tuesday. KeyCorp increased their target price on Apple from $177.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, August 19th. Wells Fargo & Company dropped their target price on shares of Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, July 20th. Credit Suisse Group upgraded Apple from a “neutral” rating to an “outperform” rating and set a $201.00 target price on the stock in a report on Tuesday, August 16th. Finally, Rosenblatt Securities dropped their target price on shares of Apple from $168.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, July 29th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $182.00.

About Apple

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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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