Apple Inc. (NASDAQ:AAPL) Shares Bought by Berkshire Money Management Inc.

Berkshire Money Management Inc. grew its stake in Apple Inc. (NASDAQ:AAPL) by 0.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,268 shares of the iPhone maker’s stock after purchasing an additional 135 shares during the quarter. Apple makes up 0.6% of Berkshire Money Management Inc.’s holdings, making the stock its 22nd biggest position. Berkshire Money Management Inc.’s holdings in Apple were worth $5,169,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Burkett Financial Services LLC lifted its holdings in shares of Apple by 0.6% in the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock worth $3,199,000 after acquiring an additional 93 shares during the last quarter. Avid Wealth Partners LLC lifted its holdings in shares of Apple by 28.3% in the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock worth $935,000 after acquiring an additional 930 shares during the last quarter. OneAscent Wealth Management LLC lifted its holdings in shares of Apple by 4.6% in the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker’s stock worth $2,337,000 after acquiring an additional 409 shares during the last quarter. TruWealth Advisors LLC lifted its holdings in shares of Apple by 2.8% in the 1st quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker’s stock worth $42,045,000 after acquiring an additional 5,120 shares during the last quarter. Finally, Allstate Corp increased its stake in Apple by 3,368.2% during the 4th quarter. Allstate Corp now owns 451,489 shares of the iPhone maker’s stock worth $113,062,000 after buying an additional 438,471 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Trading Up 5.0%

NASDAQ AAPL opened at $213.12 on Thursday. The stock has a market capitalization of $3.16 trillion, a price-to-earnings ratio of 32.34, a PEG ratio of 2.13 and a beta of 1.16. The stock’s 50 day moving average price is $205.84 and its two-hundred day moving average price is $213.24. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.14. The firm had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.40 EPS. As a group, analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple announced that its Board of Directors has authorized a stock repurchase program on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, August 11th will be paid a $0.26 dividend. The ex-dividend date is Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.5%. Apple’s payout ratio is 15.78%.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 4,486 shares of the business’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the sale, the insider directly owned 15,533 shares in the company, valued at $3,233,815.27. The trade was a 22.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.06% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AAPL. KeyCorp raised shares of Apple from an “underweight” rating to a “sector weight” rating in a research note on Monday, April 14th. Barclays upped their target price on shares of Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a research note on Friday, August 1st. JPMorgan Chase & Co. upped their target price on shares of Apple from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Evercore ISI increased their price objective on shares of Apple to $250.00 and gave the company a “buy” rating in a research report on Friday, June 6th. Finally, China Renaissance began coverage on shares of Apple in a research report on Tuesday, April 22nd. They issued a “buy” rating and a $241.00 price objective on the stock. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average price target of $237.25.

Apple 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.