Nordwand Advisors LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 36.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,399 shares of the iPhone maker’s stock after selling 18,111 shares during the period. Apple accounts for approximately 0.8% of Nordwand Advisors LLC’s investment portfolio, making the stock its 11th biggest position. Nordwand Advisors LLC’s holdings in Apple were worth $5,178,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the company. St. James Investment Advisors LLC grew its stake in Apple by 98.3% in the 4th quarter. St. James Investment Advisors LLC now owns 236 shares of the iPhone maker’s stock valued at $31,000 after buying an additional 117 shares during the last quarter. Cheyne Capital Management UK LLP increased its position in Apple by 200.0% during the 3rd quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock worth $212,000 after buying an additional 550 shares during the period. HBC Financial Services PLLC lifted its holdings in shares of Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after buying an additional 80 shares in the last quarter. PayPay Securities Corp acquired a new position in shares of Apple in the fourth quarter valued at about $60,000. Finally, LFA Lugano Financial Advisors SA bought a new position in Apple during the fourth quarter worth about $93,000. 58.51% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Apple
In related news, SVP Deirdre O’brien sold 15,419 shares of the stock in a transaction 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 completion of the sale, the senior vice president now directly owns 136,445 shares of the company’s stock, valued at approximately $24,363,619.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is owned by insiders.
Apple Trading Up 0.1 %
Apple (NASDAQ:AAPL – Get Free Report) last posted 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. Apple had a net margin of 24.68% and a return on equity of 164.92%. The business had revenue of $81.80 billion during the quarter, compared to the consensus estimate of $81.79 billion. During the same quarter last year, the firm posted $1.20 EPS. Apple’s revenue was down 1.4% compared to the same quarter last year. Analysts expect that Apple Inc. will post 6.04 EPS for the current fiscal year.
Apple declared that its board has approved a stock buyback program on Thursday, May 4th that permits the company to buyback $90.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
Apple Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.51%. Apple’s dividend payout ratio is presently 16.13%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and set a $195.00 price target on shares of Apple in a research report on Friday, August 4th. Fundamental Research set a $183.86 price target on Apple and gave the stock a “buy” rating in a research report on Wednesday, May 17th. Deutsche Bank Aktiengesellschaft raised their price target on Apple from $180.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, July 24th. Monness Crespi & Hardt raised their target price on shares of Apple from $174.00 to $188.00 and gave the company a “buy” rating in a report on Friday, May 5th. Finally, Loop Capital cut shares of Apple from a “buy” rating to a “hold” rating and set a $180.00 price objective on the stock. in a research note on Monday, May 22nd. Ten analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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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