Howard Bailey Securities LLC Has $3.41 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Howard Bailey Securities LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 9.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,347 shares of the iPhone maker’s stock after selling 1,693 shares during the quarter. Apple makes up approximately 1.4% of Howard Bailey Securities LLC’s holdings, making the stock its 22nd biggest holding. Howard Bailey Securities LLC’s holdings in Apple were worth $3,409,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in Apple during the 4th quarter worth approximately $46,868,648,000. GAMMA Investing LLC raised its holdings in shares of Apple by 25,934.1% in the first quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock valued at $133,425,490,000 after purchasing an additional 59,835,676 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Apple by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker’s stock valued at $349,532,608,000 after purchasing an additional 49,168,843 shares during the last quarter. Proficio Capital Partners LLC increased its holdings in Apple by 23,555.4% during the fourth quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker’s stock worth $5,272,653,000 after buying an additional 20,966,232 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after buying an additional 20,079,472 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Price Performance

AAPL opened at $211.18 on Friday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The stock has a market capitalization of $3.15 trillion, a PE ratio of 32.89, a price-to-earnings-growth ratio of 2.36 and a beta of 1.20. The stock’s 50 day moving average price is $204.57 and its 200-day moving average price is $215.61.

Apple (NASDAQ:AAPLGet Free Report) last issued its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.03. Apple had a return on equity of 167.24% and a net margin of 24.30%. The company had revenue of $95.36 billion for the quarter, compared to analysts’ expectations of $94.04 billion. During the same period in the prior year, the firm earned $1.53 earnings per share. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities research analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a dividend of $0.26 per share. This is an increase from Apple’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, May 12th. Apple’s dividend payout ratio is presently 16.20%.

Apple announced that its Board of Directors has initiated a share buyback program on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AAPL shares. Raymond James Financial reduced their target price on shares of Apple from $250.00 to $230.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Scotiabank cut shares of Apple to a “market perform” rating in a research report on Friday, May 2nd. Wedbush reissued an “outperform” rating and issued a $270.00 target price on shares of Apple in a research report on Wednesday, July 9th. Barclays set a $173.00 target price on shares of Apple and gave the company an “underweight” rating in a research report on Tuesday, June 24th. Finally, Bank of America reissued a “buy” rating and issued a $235.00 target price on shares of Apple in a research report on Tuesday, June 10th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $235.11.

Check Out Our Latest Stock Analysis on AAPL

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 4,486 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the transaction, the insider owned 15,533 shares of the company’s stock, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of the company’s stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the completion of the sale, the chief financial officer owned 4,569 shares of the company’s stock, valued at approximately $941,214. The trade was a 50.01% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Apple Company 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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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