Apple Inc. $AAPL Shares Bought by Westchester Capital Management Inc.

Westchester Capital Management Inc. boosted its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 157,745 shares of the iPhone maker’s stock after acquiring an additional 551 shares during the period. Apple comprises 8.7% of Westchester Capital Management Inc.’s investment portfolio, making the stock its biggest holding. Westchester Capital Management Inc.’s holdings in Apple were worth $35,040,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Burkett Financial Services LLC lifted its holdings 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 purchasing an additional 93 shares during the last quarter. Avid Wealth Partners LLC lifted its holdings in shares of 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 last quarter. OneAscent Wealth Management LLC lifted its holdings in shares of Apple by 4.6% in the 4th 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. Bell & Brown Wealth Advisors LLC lifted its holdings in shares of Apple by 0.4% in the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock valued at $13,772,000 after purchasing an additional 240 shares during the last quarter. Finally, TruWealth Advisors LLC lifted its holdings in shares of Apple by 2.8% in the 1st 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 during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Performance

NASDAQ AAPL opened at $239.69 on Friday. 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 business’s 50 day moving average is $219.28 and its two-hundred day moving average is $212.86. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The stock has a market capitalization of $3.56 trillion, a price-to-earnings ratio of 36.37, a PEG ratio of 2.50 and a beta of 1.11.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results 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. The business had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business’s revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.40 EPS. Research analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AAPL shares. Rosenblatt Securities reiterated a “neutral” rating and set a $217.00 price target on shares of Apple in a research note on Tuesday, July 29th. Barclays increased their price target on shares of Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a research note on Friday, August 1st. Loop Capital decreased their price target on shares of Apple from $230.00 to $226.00 and set a “hold” rating for the company in a research note on Thursday, August 21st. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a research note on Friday, July 25th. Finally, Citigroup increased their price target on shares of Apple from $240.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $239.05.

Insider Activity

In other news, SVP Deirdre O’brien sold 34,821 shares of the stock in a transaction dated 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 transaction, the senior vice president owned 136,687 shares in the company, valued at $30,508,538.40. This trade represents a 20.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.06% of the stock is owned by corporate insiders.

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.