Checchi Capital Advisers LLC Has $42.49 Million Holdings in Apple Inc. $AAPL

Checchi Capital Advisers LLC boosted its stake in Apple Inc. (NASDAQ:AAPL) by 2.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 191,279 shares of the iPhone maker’s stock after purchasing an additional 5,179 shares during the period. Apple comprises about 2.2% of Checchi Capital Advisers LLC’s holdings, making the stock its largest holding. Checchi Capital Advisers LLC’s holdings in Apple were worth $42,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Life Planning Partners Inc bought a new position in Apple in the 4th quarter valued at approximately $47,000. Conquis Financial LLC bought a new position in shares of Apple during the fourth quarter valued at $63,000. LSV Asset Management bought a new position in shares of Apple during the fourth quarter valued at $65,000. Pillar Financial Advisors LLC bought a new position in shares of Apple during the fourth quarter valued at $82,000. Finally, Compass Planning Associates Inc bought a new position in shares of Apple during the fourth quarter valued at $96,000. Institutional investors own 67.73% of the company’s stock.

Apple Trading Down 2.0%

NASDAQ:AAPL opened at $226.01 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $3.35 trillion, a price-to-earnings ratio of 34.30, a PEG ratio of 2.41 and a beta of 1.16. The firm has a fifty day simple moving average of $211.38 and a two-hundred day simple moving average of $213.15. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. The business had revenue of $94.04 billion during 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 business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the company posted $1.40 earnings per share. Analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

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

Apple announced that its board has approved a share repurchase program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AAPL. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a research note on Friday, July 25th. UBS Group raised 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. Wedbush reaffirmed an “outperform” rating and set a $270.00 price target on shares of Apple in a research note on Thursday, August 7th. Evercore ISI reaffirmed an “outperform” rating and set a $250.00 price target on shares of Apple in a research note on Wednesday, August 13th. Finally, Loop Capital dropped their price target on shares of Apple from $230.00 to $215.00 and set a “hold” rating for the company in a research note on Wednesday, April 30th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $237.60.

Insider Buying and Selling

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of the firm’s stock in a transaction 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 completion of the sale, the senior vice president directly owned 136,687 shares in the company, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.06% of the company’s stock.

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.