Apple Inc. (NASDAQ:AAPL) Holdings Increased by Money Concepts Capital Corp

Money Concepts Capital Corp raised its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 114,948 shares of the iPhone maker’s stock after purchasing an additional 144 shares during the period. Apple makes up about 1.9% of Money Concepts Capital Corp’s investment portfolio, making the stock its 9th largest holding. Money Concepts Capital Corp’s holdings in Apple were worth $25,533,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AAPL. Conquis Financial LLC purchased a new position in shares of Apple in the fourth quarter valued at about $63,000. LSV Asset Management purchased a new position in shares of Apple in the fourth quarter valued at about $65,000. Pillar Financial Advisors LLC purchased a new position in shares of Apple in the fourth quarter valued at about $82,000. Compass Planning Associates Inc purchased a new position in shares of Apple in the fourth quarter valued at about $96,000. Finally, Collier Financial purchased a new position in shares of Apple in the fourth quarter valued at about $140,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Trading Up 4.2%

AAPL stock opened at $229.35 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The stock has a market cap of $3.40 trillion, a price-to-earnings ratio of 34.80, a PEG ratio of 2.40 and a beta of 1.16. The business’s 50-day moving average is $206.84 and its 200 day moving average is $213.07.

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

Apple declared that its board has authorized a share buyback program on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Monday, August 11th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Monday, August 11th. Apple’s dividend payout ratio (DPR) is 15.78%.

Analyst Ratings Changes

A number of research firms recently commented on AAPL. Citigroup boosted their target price on Apple from $240.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. DA Davidson reiterated a “buy” rating and issued a $250.00 target price on shares of Apple in a research report on Friday, August 1st. Morgan Stanley boosted their target price on Apple from $235.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Bank of America boosted their target price on Apple from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, UBS Group boosted their target price on Apple from $210.00 to $220.00 and gave the stock a “neutral” rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $237.60.

About Apple

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.