Jag Capital Management LLC Has $53.33 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Jag Capital Management LLC grew its position in Apple Inc. (NASDAQ:AAPL) by 0.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 240,061 shares of the iPhone maker’s stock after purchasing an additional 2,190 shares during the quarter. Apple makes up about 7.1% of Jag Capital Management LLC’s investment portfolio, making the stock its largest holding. Jag Capital Management LLC’s holdings in Apple were worth $53,325,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Life Planning Partners Inc bought a new position in shares of Apple during the fourth quarter worth $47,000. Conquis Financial LLC bought a new position in shares of Apple during the fourth quarter worth $63,000. LSV Asset Management bought a new position in shares of Apple during the fourth quarter worth $65,000. Pillar Financial Advisors LLC purchased a new stake in Apple during the fourth quarter valued at $82,000. Finally, Compass Planning Associates Inc purchased a new stake in Apple during the fourth quarter valued at $96,000. 67.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AAPL has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their price target on shares of Apple from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. UBS Group upped their price target on shares of Apple from $210.00 to $220.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Evercore ISI upped their price target on shares of Apple to $250.00 and gave the company a “buy” rating in a research note on Friday, June 6th. Monness Crespi & Hardt upped their price target on shares of Apple from $245.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Finally, Bank of America upped their price target on shares of Apple from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average target price of $237.60.

Apple Stock Up 4.2%

NASDAQ:AAPL opened at $229.35 on Monday. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The stock has a market capitalization of $3.40 trillion, a P/E ratio of 34.80, a P/E/G ratio of 2.40 and a beta of 1.16. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The company’s 50-day simple moving average is $206.84 and its 200-day simple moving average is $213.07.

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

Apple announced that its board has authorized a share repurchase plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Apple Dividend Announcement

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

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.