Mendel Capital Management LLC Acquires 1,061 Shares of Apple Inc. (NASDAQ:AAPL)

Mendel Capital Management LLC raised its holdings in Apple Inc. (NASDAQ:AAPL) by 4.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 26,362 shares of the iPhone maker’s stock after acquiring an additional 1,061 shares during the quarter. Apple makes up about 3.5% of Mendel Capital Management LLC’s portfolio, making the stock its 6th largest holding. Mendel Capital Management LLC’s holdings in Apple were worth $5,856,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of AAPL. Conquis Financial LLC bought a new position in shares of Apple during the fourth quarter worth about $63,000. LSV Asset Management bought a new position in shares of Apple during the fourth quarter worth about $65,000. Pillar Financial Advisors LLC bought a new position in shares of Apple during the fourth quarter worth about $82,000. Compass Planning Associates Inc bought a new position in shares of Apple during the fourth quarter worth about $96,000. Finally, Collier Financial bought a new position in shares of Apple during the fourth quarter worth about $140,000. Institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

NASDAQ:AAPL opened at $227.18 on Tuesday. 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. The firm has a market cap of $3.37 trillion, a price-to-earnings ratio of 34.47, a PEG ratio of 2.40 and a beta of 1.16. The business’s fifty day moving average is $207.35 and its 200 day moving average is $213.10.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $88.64 billion. During the same period in the previous year, the company posted $1.40 EPS. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. Research analysts predict that Apple Inc. will post 7.28 EPS for the current year.

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

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, August 11th will be paid a dividend of $0.26 per share. 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 payout ratio is presently 15.78%.

Analyst Ratings Changes

Several equities research analysts recently commented on AAPL shares. JPMorgan Chase & Co. raised their target price on Apple from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Scotiabank cut Apple to a “market perform” rating in a research note on Friday, May 2nd. Raymond James Financial reaffirmed an “outperform” rating and set a $240.00 target price (up previously from $230.00) on shares of Apple in a research note on Friday, August 1st. KeyCorp raised Apple from an “underweight” rating to a “sector weight” rating in a research note on Monday, April 14th. Finally, Bank of America raised their target price on Apple from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $237.60.

Apple Company 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.