Apple Inc. (NASDAQ:AAPL) Shares Purchased by BLB&B Advisors LLC

BLB&B Advisors LLC raised its position in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 7.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 329,490 shares of the iPhone maker’s stock after purchasing an additional 22,196 shares during the period. Apple accounts for about 3.2% of BLB&B Advisors LLC’s investment portfolio, making the stock its 7th largest position. BLB&B Advisors LLC’s holdings in Apple were worth $56,501,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AAPL. Wyrmwood Management LLC raised its stake in shares of Apple by 69.0% during the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after purchasing an additional 69 shares in the last quarter. Christopher J. Hasenberg Inc bought a new position in shares of Apple in the 1st quarter valued at approximately $35,000. A.P. Gilfoyle & Co. L.P. bought a new position in shares of Apple in the 4th quarter valued at approximately $39,000. Gilfoyle & Co LLC raised its stake in shares of Apple by 118.0% in the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after acquiring an additional 118 shares in the last quarter. Finally, University of Texas Texas AM Investment Managment Co. raised its stake in shares of Apple by 657.1% in the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after acquiring an additional 368 shares in the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. DA Davidson raised Apple from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $200.00 to $230.00 in a research report on Tuesday, June 11th. Itau BBA Securities raised Apple from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $162.00 to $188.00 in a research report on Friday, May 3rd. Rosenblatt Securities raised Apple from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $196.00 to $260.00 in a report on Wednesday, June 26th. Tigress Financial lifted their price objective on Apple from $240.00 to $245.00 and gave the stock a “strong-buy” rating in a report on Thursday, May 30th. Finally, Melius Research lifted their price objective on Apple from $227.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $218.43.

Get Our Latest Report on AAPL

Apple Stock Up 1.9 %

AAPL stock opened at $232.98 on Thursday. The stock has a market capitalization of $3.57 trillion, a P/E ratio of 36.23, a P/E/G ratio of 2.77 and a beta of 1.24. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $233.08. The business has a 50-day moving average of $200.96 and a 200-day moving average of $186.98.

Apple (NASDAQ:AAPLGet Free Report) last announced its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The company had revenue of $90.75 billion for 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%. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.52 earnings per share. On average, sell-side analysts anticipate 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. Investors of record on Monday, May 13th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. This is an increase from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio is currently 15.55%.

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

Insider Buying and Selling at Apple

In related news, insider Chris Kondo sold 4,999 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total transaction of $951,809.60. Following the sale, the insider now owns 29,278 shares of the company’s stock, valued at approximately $5,574,531.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Chris Kondo sold 4,999 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total transaction of $951,809.60. Following the sale, the insider now owns 29,278 shares in the company, valued at approximately $5,574,531.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were 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 owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

About Apple

(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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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