WealthBridge Capital Management LLC trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 1.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,758 shares of the iPhone maker’s stock after selling 903 shares during the period. Apple comprises about 4.1% of WealthBridge Capital Management LLC’s portfolio, making the stock its 6th largest position. WealthBridge Capital Management LLC’s holdings in Apple were worth $10,349,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Starfox Financial Services LLC boosted its holdings in Apple by 21.5% during the fourth quarter. Starfox Financial Services LLC now owns 1,900 shares of the iPhone maker’s stock worth $247,000 after purchasing an additional 336 shares during the last quarter. Arista Wealth Management LLC increased its position in shares of Apple by 1.0% in the first quarter. Arista Wealth Management LLC now owns 26,680 shares of the iPhone maker’s stock valued at $4,399,000 after acquiring an additional 261 shares during the last quarter. Factory Mutual Insurance Co. raised its holdings in Apple by 5.2% during the fourth quarter. Factory Mutual Insurance Co. now owns 2,340,129 shares of the iPhone maker’s stock worth $304,053,000 after acquiring an additional 115,929 shares in the last quarter. Brogan Financial Inc. acquired a new position in Apple during the fourth quarter valued at approximately $1,874,000. Finally, Peddock Capital Advisors LLC boosted its position in Apple by 0.8% during the first quarter. Peddock Capital Advisors LLC now owns 115,970 shares of the iPhone maker’s stock valued at $19,123,000 after purchasing an additional 901 shares during the last quarter. 58.51% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on AAPL. Loop Capital cut 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. Bank of America upped their price target on shares of Apple from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 19th. Canaccord Genuity Group lifted their price objective on shares of Apple from $185.00 to $205.00 and gave the company a “buy” rating in a research report on Friday, August 4th. 58.com reaffirmed a “maintains” rating on shares of Apple in a report on Monday, June 5th. Finally, Citigroup reiterated a “buy” rating and set a $240.00 price target on shares of Apple in a report on Friday, August 4th. Ten research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $198.86.
Insider Buying and Selling at Apple
In other news, SVP Deirdre O’brien sold 15,419 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $178.56, for a total value of $2,753,216.64. Following the completion of the transaction, the senior vice president now owns 136,445 shares of the company’s stock, valued at $24,363,619.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.06% of the company’s stock.
Apple Stock Down 3.6 %
AAPL stock opened at $182.91 on Thursday. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $198.23. The business has a 50-day simple moving average of $186.81 and a 200 day simple moving average of $174.06. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.63. The company has a market cap of $2.86 trillion, a PE ratio of 30.74, a price-to-earnings-growth ratio of 2.76 and a beta of 1.27.
Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings data on Thursday, August 3rd. The iPhone maker reported $1.26 EPS for the quarter, beating the consensus estimate of $1.19 by $0.07. The business had revenue of $81.80 billion during the quarter, compared to the consensus estimate of $81.79 billion. Apple had a net margin of 24.68% and a return on equity of 164.92%. The company’s revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.20 earnings per share. Sell-side analysts anticipate that Apple Inc. will post 6.05 EPS for the current fiscal year.
Apple Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.96 annualized dividend and a dividend yield of 0.52%. Apple’s dividend payout ratio is currently 16.13%.
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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