CarsonAllaria Wealth Management Ltd. Purchases 94 Shares of Apple Inc. $AAPL

CarsonAllaria Wealth Management Ltd. increased its position in Apple Inc. (NASDAQ:AAPL) by 0.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,998 shares of the iPhone maker’s stock after acquiring an additional 94 shares during the period. Apple comprises about 1.7% of CarsonAllaria Wealth Management Ltd.’s investment portfolio, making the stock its 18th biggest holding. CarsonAllaria Wealth Management Ltd.’s holdings in Apple were worth $2,887,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Detalus Advisors LLC grew its holdings in shares of Apple by 14.3% in the first quarter. Detalus Advisors LLC now owns 23,916 shares of the iPhone maker’s stock worth $5,313,000 after acquiring an additional 2,989 shares during the period. Arbor Capital Management Inc. ADV lifted its position in Apple by 14.8% during the first quarter. Arbor Capital Management Inc. ADV now owns 10,974 shares of the iPhone maker’s stock valued at $2,454,000 after purchasing an additional 1,413 shares in the last quarter. Yukon Wealth Management Inc. purchased a new position in Apple during the first quarter valued at $20,983,000. Svenska Handelsbanken AB publ purchased a new position in Apple during the first quarter valued at $27,258,000. Finally, Red Lighthouse Investment Management LLC lifted its position in Apple by 5.8% during the first quarter. Red Lighthouse Investment Management LLC now owns 93,531 shares of the iPhone maker’s stock valued at $20,776,000 after purchasing an additional 5,086 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the topic of several analyst reports. Bank of America lifted their target price on Apple from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. DA Davidson restated a “buy” rating and issued a $250.00 price objective on shares of Apple in a research report on Friday, August 1st. UBS Group boosted their price objective on Apple from $210.00 to $220.00 and gave the company a “neutral” rating in a research report on Friday, August 1st. JPMorgan Chase & Co. boosted their price objective on Apple from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Finally, TD Cowen lowered their price objective on Apple from $290.00 to $275.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $237.60.

Apple Trading Down 0.5%

Shares of Apple stock opened at $231.59 on Monday. The firm has a market capitalization of $3.44 trillion, a PE ratio of 35.14, a P/E/G ratio of 2.42 and a beta of 1.16. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The firm’s 50-day moving average price is $209.69 and its 200 day moving average price is $212.97. 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 (NASDAQ:AAPL) last issued 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. The firm had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. Apple’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the company posted $1.40 EPS. On average, sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s dividend payout ratio (DPR) is 15.78%.

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

Insiders Place Their Bets

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the transaction, the senior vice president directly owned 136,687 shares of the company’s stock, valued at $30,508,538.40. This trade represents a 20.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.06% of the stock is owned by company insiders.

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.