Hilton Capital Management LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 11.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 170,897 shares of the iPhone maker’s stock after selling 21,252 shares during the quarter. Apple accounts for 2.9% of Hilton Capital Management LLC’s investment portfolio, making the stock its 8th largest holding. Hilton Capital Management LLC’s holdings in Apple were worth $22,205,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. St. James Investment Advisors LLC raised 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 valued at $31,000 after buying an additional 117 shares during the last quarter. HBC Financial Services PLLC raised its position in Apple by 21.7% in the 1st 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 last quarter. PayPay Securities Corp purchased a new stake in Apple in the 4th quarter valued at $60,000. LFA Lugano Financial Advisors SA purchased a new stake in Apple in the 4th quarter valued at $93,000. Finally, Sonnipe Ltd purchased a new stake in Apple in the 4th quarter valued at $104,000. 58.51% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Apple
In related news, SVP Deirdre O’brien sold 15,419 shares of the company’s stock in a transaction on 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 owns 136,445 shares in the company, valued at $24,363,619.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is owned by company insiders.
Apple Trading Up 0.8 %
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 for the quarter, topping the consensus estimate of $1.19 by $0.07. Apple had a return on equity of 164.92% and a net margin of 24.68%. The firm had revenue of $81.80 billion during the quarter, compared to analysts’ expectations of $81.79 billion. During the same quarter in the previous year, the business earned $1.20 earnings per share. The company’s revenue was down 1.4% on a year-over-year basis. Research analysts forecast that Apple Inc. will post 6.04 earnings per share for the current fiscal year.
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 paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Friday, August 11th. Apple’s dividend payout ratio is currently 16.13%.
Wall Street Analyst Weigh In
AAPL has been the subject of several research analyst reports. TD Cowen raised their target price on Apple from $195.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday, August 1st. Canaccord Genuity Group raised their target price on Apple from $185.00 to $205.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Bank of America raised their target price on Apple from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 19th. Rosenblatt Securities cut Apple from a “buy” rating to a “neutral” rating and set a $198.00 price target on the stock. in a report on Friday, August 4th. Finally, Needham & Company LLC reissued a “buy” rating and set a $195.00 price objective on shares of Apple in a report on Friday, August 4th. Ten investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $198.86.
Apple Company Profile
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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