Rainsberger Wealth Advisors Inc. lowered its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,212 shares of the iPhone maker’s stock after selling 768 shares during the quarter. Apple comprises approximately 2.9% of Rainsberger Wealth Advisors Inc.’s portfolio, making the stock its 11th largest holding. Rainsberger Wealth Advisors Inc.’s holdings in Apple were worth $4,575,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Apple by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after buying an additional 8,734,393 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Apple by 1.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 80,739,774 shares of the iPhone maker’s stock valued at $14,097,970,000 after buying an additional 1,155,915 shares during the period. Swiss National Bank boosted its position in Apple by 13.1% during the first quarter. Swiss National Bank now owns 71,060,708 shares of the iPhone maker’s stock valued at $12,407,910,000 after buying an additional 8,230,300 shares during the period. Jennison Associates LLC boosted its position in Apple by 0.9% during the first quarter. Jennison Associates LLC now owns 48,826,270 shares of the iPhone maker’s stock valued at $8,525,555,000 after buying an additional 424,839 shares during the period. Finally, Deutsche Bank AG boosted its holdings in shares of Apple by 0.5% during the second quarter. Deutsche Bank AG now owns 47,737,612 shares of the iPhone maker’s stock worth $6,526,687,000 after purchasing an additional 245,336 shares during the period. Institutional investors own 57.60% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the stock. KeyCorp increased their target price on shares of Apple from $177.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, May 5th. Evercore ISI restated an “outperform” rating and issued a $190.00 price objective on shares of Apple in a report on Monday, February 6th. Canaccord Genuity Group raised their price objective on shares of Apple from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, May 5th. Piper Sandler lowered their price objective on shares of Apple from $195.00 to $180.00 and set an “overweight” rating for the company in a report on Friday, May 5th. Finally, Raymond James decreased their target price on shares of Apple from $185.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday, February 3rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average price target of $174.29.
Insider Buying and Selling at Apple
Apple Stock Up 0.1 %
AAPL opened at $173.75 on Friday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.88 and a current ratio of 0.94. Apple Inc. has a fifty-two week low of $124.17 and a fifty-two week high of $176.15. The firm’s fifty day moving average is $162.22 and its 200 day moving average is $149.65. The stock has a market cap of $2.75 trillion, a price-to-earnings ratio of 29.50, a price-to-earnings-growth ratio of 2.31 and a beta of 1.29.
Apple (NASDAQ:AAPL – Get Rating) last released its earnings results on Thursday, May 4th. The iPhone maker reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.08. The company had revenue of $94.84 billion for the quarter, compared to analysts’ expectations of $92.84 billion. Apple had a net margin of 24.49% and a return on equity of 165.72%. Apple’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.52 EPS. On average, sell-side analysts forecast that Apple Inc. will post 6 earnings per share for the current fiscal year.
Apple Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 18th. Shareholders of record on Monday, May 15th will be issued a $0.24 dividend. This is an increase from Apple’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Friday, May 12th. Apple’s payout ratio is currently 15.62%.
Apple declared that its Board of Directors has approved a stock repurchase plan on Thursday, May 4th that permits the company to buyback $90.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to purchase up to 3.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.
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