Global Wealth Management Investment Advisory Inc. decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 1.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,621 shares of the iPhone maker’s stock after selling 1,095 shares during the quarter. Apple accounts for approximately 3.4% of Global Wealth Management Investment Advisory Inc.’s holdings, making the stock its 3rd biggest position. Global Wealth Management Investment Advisory Inc.’s holdings in Apple were worth $11,151,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Apple by 8.8% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 12,764,012 shares of the iPhone maker’s stock valued at $2,104,786,000 after purchasing an additional 1,028,654 shares in the last quarter. Sageworth Trust Co raised its holdings in Apple by 13.3% during the first quarter. Sageworth Trust Co now owns 6,982 shares of the iPhone maker’s stock valued at $1,151,000 after buying an additional 817 shares in the last quarter. Bailard Inc. raised its holdings in Apple by 0.3% during the first quarter. Bailard Inc. now owns 899,215 shares of the iPhone maker’s stock valued at $148,281,000 after buying an additional 2,545 shares in the last quarter. Guardian Investment Management raised its holdings in Apple by 11.3% during the first quarter. Guardian Investment Management now owns 131,841 shares of the iPhone maker’s stock valued at $15,393,000 after buying an additional 13,373 shares in the last quarter. Finally, Community Bank of Raymore raised its holdings in Apple by 11.3% during the first quarter. Community Bank of Raymore now owns 16,626 shares of the iPhone maker’s stock valued at $2,742,000 after buying an additional 1,683 shares in the last quarter. Hedge funds and other institutional investors own 58.51% of the company’s stock.
Apple Stock Up 0.8 %
NASDAQ:AAPL opened at $189.46 on Friday. The company has a market cap of $2.96 trillion, a price-to-earnings ratio of 31.84, 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 $186.82 and its two-hundred day moving average price is $173.36. Apple Inc. has a 52-week low of $124.17 and a 52-week high of $198.23.
Apple Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were issued a dividend of $0.24 per share. The ex-dividend date was Friday, August 11th. This represents a $0.96 annualized dividend and a yield of 0.51%. Apple’s dividend payout ratio is currently 16.13%.
Insiders Place Their Bets
In other Apple news, SVP Deirdre O’brien sold 15,419 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was 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 directly owns 136,445 shares of the company’s stock, valued at approximately $24,363,619.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.06% of the company’s stock.
Analyst Upgrades and Downgrades
AAPL has been the topic of several analyst reports. Oppenheimer increased their price target on Apple from $195.00 to $220.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Canaccord Genuity Group increased their price target on Apple from $185.00 to $205.00 and gave the company a “buy” rating in a report on Friday, August 4th. Piper Jaffray Companies upped their price target on shares of Apple from $180.00 to $220.00 and gave the company an “overweight” rating in a report on Monday, July 31st. DA Davidson cut shares of Apple from a “buy” rating to a “neutral” rating and decreased their price target for the company from $193.00 to $185.00 in a report on Monday, June 5th. Finally, Fundamental Research set a $183.86 price target on shares of Apple and gave the company a “buy” rating in a report on Wednesday, May 17th. Ten equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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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