Rosenberg Matthew Hamilton Buys 719 Shares of Apple Inc. $AAPL

Rosenberg Matthew Hamilton increased its stake in Apple Inc. (NASDAQ:AAPL) by 6.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,049 shares of the iPhone maker’s stock after acquiring an additional 719 shares during the quarter. Apple accounts for approximately 0.7% of Rosenberg Matthew Hamilton’s portfolio, making the stock its 22nd largest position. Rosenberg Matthew Hamilton’s holdings in Apple were worth $2,676,000 as of its most recent SEC filing.

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

Insider Transactions at Apple

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the transaction, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AAPL. TD Cowen cut their price target on shares of Apple from $290.00 to $275.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Rosenblatt Securities reiterated a “neutral” rating and set a $217.00 price target on shares of Apple in a research report on Tuesday, July 29th. Bank of America raised their price objective on shares of Apple from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Citigroup raised their price objective on shares of Apple from $240.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Finally, Wedbush restated an “outperform” rating and issued a $270.00 price objective on shares of Apple in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $237.60.

Apple Stock Down 0.1%

Shares of Apple stock opened at $230.56 on Wednesday. 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 stock has a market capitalization of $3.42 trillion, a price-to-earnings ratio of 34.99, a P/E/G ratio of 2.42 and a beta of 1.16. The company’s 50 day moving average price is $210.83 and its 200-day moving average price is $213.06.

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 the consensus estimate of $1.43 by $0.14. The business had revenue of $94.04 billion for the quarter, compared to analysts’ expectations of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.40 earnings per share. Equities research analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

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

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were paid a dividend of $0.26 per share. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.5%. Apple’s dividend payout ratio is currently 15.78%.

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.