Full Sail Capital LLC grew its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 0.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 97,890 shares of the iPhone maker’s stock after buying an additional 746 shares during the period. Apple accounts for about 1.5% of Full Sail Capital LLC’s portfolio, making the stock its 25th biggest holding. Full Sail Capital LLC’s holdings in Apple were worth $16,142,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in AAPL. St. James Investment Advisors LLC lifted its position in Apple by 98.3% during the fourth quarter. St. James Investment Advisors LLC now owns 236 shares of the iPhone maker’s stock worth $31,000 after acquiring an additional 117 shares during the last quarter. Cheyne Capital Management UK LLP increased its stake in shares of Apple by 200.0% during the third quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock worth $212,000 after purchasing an additional 550 shares during the period. HBC Financial Services PLLC lifted its holdings 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 purchasing an additional 80 shares during the last quarter. PayPay Securities Corp bought a new stake in Apple in the 4th quarter valued at $60,000. Finally, LFA Lugano Financial Advisors SA acquired a new position in Apple in the 4th quarter valued at $93,000. 58.51% of the stock is currently owned by institutional investors.
Apple Trading Up 0.1 %
AAPL opened at $187.87 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.98 and a quick ratio of 0.92. Apple Inc. has a fifty-two week low of $124.17 and a fifty-two week high of $198.23. The company’s 50 day moving average price is $186.77 and its two-hundred day moving average price is $172.97. The firm has a market capitalization of $2.94 trillion, a price-to-earnings ratio of 31.57, a PEG ratio of 2.63 and a beta of 1.28.
Apple announced that its Board of Directors has approved a share buyback 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 buy up to 3.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.
Apple Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were paid a $0.24 dividend. The ex-dividend date was Friday, August 11th. This represents a $0.96 annualized dividend and a dividend yield of 0.51%. Apple’s payout ratio is 16.13%.
Insider Transactions at Apple
In related news, SVP Deirdre O’brien sold 15,419 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $178.56, for a total value of $2,753,216.64. Following the sale, the senior vice president now directly owns 136,445 shares in the company, valued at $24,363,619.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
AAPL has been the subject of a number of recent research reports. TD Cowen boosted their target price on shares of Apple from $195.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday, August 1st. DA Davidson downgraded shares of Apple from a “buy” rating to a “neutral” rating and cut their price objective for the company from $193.00 to $185.00 in a report on Monday, June 5th. Canaccord Genuity Group raised their target price on shares of Apple from $185.00 to $205.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Oppenheimer lifted their price target on shares of Apple from $195.00 to $220.00 and gave the company an “outperform” rating in a research report on Friday, August 4th. Finally, Morgan Stanley reduced their price target on Apple from $220.00 to $215.00 and set an “overweight” rating on the stock in a research report on Friday, August 4th. Ten equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $198.86.
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.
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