Apple Inc. (NASDAQ:AAPL) Stock Holdings Raised by Dumont & Blake Investment Advisors LLC

Dumont & Blake Investment Advisors LLC lifted its position in Apple Inc. (NASDAQ:AAPLFree Report) by 1.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,622 shares of the iPhone maker’s stock after buying an additional 676 shares during the quarter. Apple makes up approximately 3.5% of Dumont & Blake Investment Advisors LLC’s portfolio, making the stock its 5th biggest holding. Dumont & Blake Investment Advisors LLC’s holdings in Apple were worth $12,282,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Trilogy Capital Inc. increased its position in shares of Apple by 27.0% in the first quarter. Trilogy Capital Inc. now owns 13,223 shares of the iPhone maker’s stock worth $2,268,000 after purchasing an additional 2,813 shares during the last quarter. Red Door Wealth Management LLC increased its position in shares of Apple by 1.1% in the first quarter. Red Door Wealth Management LLC now owns 109,871 shares of the iPhone maker’s stock worth $18,841,000 after purchasing an additional 1,165 shares during the last quarter. Cornerstone Wealth Group LLC increased its position in shares of Apple by 49.2% in the first quarter. Cornerstone Wealth Group LLC now owns 224,376 shares of the iPhone maker’s stock worth $38,476,000 after purchasing an additional 73,987 shares during the last quarter. Richardson Capital Management LLC increased its position in shares of Apple by 558.4% in the first quarter. Richardson Capital Management LLC now owns 1,679 shares of the iPhone maker’s stock worth $288,000 after purchasing an additional 1,424 shares during the last quarter. Finally, Physician Wealth Advisors Inc. increased its position in shares of Apple by 0.5% in the first quarter. Physician Wealth Advisors Inc. now owns 75,648 shares of the iPhone maker’s stock worth $12,813,000 after purchasing an additional 407 shares during the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AAPL shares. Canaccord Genuity Group upped their price objective on shares of Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Saturday, May 4th. Wedbush increased their price target on shares of Apple from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Friday, May 24th. Citigroup reduced their price target on shares of Apple from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Evercore ISI reiterated a “buy” rating and set a $250.00 price target on shares of Apple in a research report on Thursday, July 4th. Finally, Tigress Financial increased their price target on shares of Apple from $240.00 to $245.00 and gave the company a “strong-buy” rating in a research report on Thursday, May 30th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $217.29.

Check Out Our Latest Report on Apple

Insider Transactions at Apple

In other news, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the transaction, the director now owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the sale, the director now directly owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Chris Kondo sold 4,999 shares of Apple stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total value of $951,809.60. Following the completion of the sale, the insider now owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The disclosure for this sale can be found here. Insiders sold a total of 192,355 shares of company stock valued at $34,771,329 in the last quarter. 0.06% of the stock is owned by insiders.

Apple Stock Performance

Shares of Apple stock opened at $228.68 on Wednesday. The business has a fifty day simple moving average of $199.69 and a two-hundred day simple moving average of $186.66. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $3.51 trillion, a P/E ratio of 35.56, a P/E/G ratio of 2.75 and a beta of 1.24. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $229.40.

Apple (NASDAQ:AAPLGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.02. The firm had revenue of $90.75 billion during the quarter, compared to analyst estimates of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. Apple’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.52 EPS. On average, equities analysts forecast that Apple Inc. will post 6.59 earnings per share for the current fiscal year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Friday, May 10th. This is a positive change from Apple’s previous quarterly dividend of $0.24. Apple’s payout ratio is currently 15.55%.

Apple announced that its board has initiated a share buyback plan on Thursday, May 2nd that permits the company to buyback $110.00 billion in shares. This buyback authorization permits the iPhone maker to repurchase up to 3.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Apple Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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