Hutchinson Capital Management CA Acquires 1,085 Shares of Apple Inc. (NASDAQ:AAPL)

Hutchinson Capital Management CA raised its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 160,931 shares of the iPhone maker’s stock after buying an additional 1,085 shares during the quarter. Apple comprises 6.9% of Hutchinson Capital Management CA’s investment portfolio, making the stock its 3rd largest holding. Hutchinson Capital Management CA’s holdings in Apple were worth $26,538,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of AAPL. St. James Investment Advisors LLC grew its position in Apple by 98.3% in the 4th quarter. St. James Investment Advisors LLC now owns 236 shares of the iPhone maker’s stock worth $31,000 after purchasing an additional 117 shares during the last quarter. HBC Financial Services PLLC lifted its stake in shares of Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after buying an additional 80 shares during the period. PayPay Securities Corp bought a new stake in shares of Apple in the fourth quarter valued at about $60,000. LFA Lugano Financial Advisors SA acquired a new stake in Apple during the fourth quarter worth about $93,000. Finally, Sonnipe Ltd bought a new position in Apple during the fourth quarter valued at about $104,000. 58.51% of the stock is owned by institutional investors.

Insider Activity at Apple

In other Apple news, SVP Deirdre O’brien sold 15,419 shares of Apple stock in a transaction on Monday, August 7th. The shares were sold at an average price of $178.56, for a total transaction of $2,753,216.64. Following the completion of the sale, the senior vice president now owns 136,445 shares of the company’s stock, valued at approximately $24,363,619.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is currently owned by company insiders.

Apple Stock Up 0.1 %

NASDAQ:AAPL opened at $187.87 on Friday. The company has a market cap of $2.94 trillion, a price-to-earnings ratio of 31.57, a P/E/G ratio of 2.63 and a beta of 1.28. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.92 and a current ratio of 0.98. The stock’s fifty day moving average price is $186.77 and its two-hundred day moving average price is $172.97. Apple Inc. has a 52-week low of $124.17 and a 52-week high of $198.23.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.07. The business had revenue of $81.80 billion for the quarter, compared to analyst estimates of $81.79 billion. Apple had a return on equity of 164.92% and a net margin of 24.68%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.20 earnings per share. On average, analysts anticipate that Apple Inc. will post 6.04 EPS for the current year.

Apple announced that its board has approved a share repurchase plan on Thursday, May 4th that authorizes the company to repurchase $90.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Friday, August 11th. Apple’s dividend payout ratio is 16.13%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AAPL. Fundamental Research set a $183.86 price objective on Apple and gave the stock a “buy” rating in a report on Wednesday, May 17th. Morgan Stanley decreased their price target on shares of Apple from $220.00 to $215.00 and set an “overweight” rating on the stock in a research note on Friday, August 4th. Credit Suisse Group increased their price objective on shares of Apple from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, July 20th. Citigroup reiterated a “buy” rating and set a $240.00 target price on shares of Apple in a research report on Friday, August 4th. Finally, Robert W. Baird upped their target price on shares of Apple from $180.00 to $204.00 and gave the company an “outperform” rating in a research note on Tuesday, August 1st. Ten investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $198.86.

About Apple

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.