Texas Capital Bancshares Inc TX Raises Stake in Apple Inc. $AAPL

Texas Capital Bancshares Inc TX raised its position in Apple Inc. (NASDAQ:AAPL) by 1.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,032 shares of the iPhone maker’s stock after buying an additional 665 shares during the quarter. Apple comprises about 5.5% of Texas Capital Bancshares Inc TX’s holdings, making the stock its 3rd largest position. Texas Capital Bancshares Inc TX’s holdings in Apple were worth $12,891,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Advanced Portfolio Management LLC boosted its holdings in Apple by 0.3% during the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock valued at $3,260,000 after acquiring an additional 47 shares during the period. Salus Financial Advisors LLC lifted its holdings in Apple by 3.9% in the 1st quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock worth $291,000 after buying an additional 49 shares during the period. Disciplined Investments LLC lifted its holdings in Apple by 0.7% in the 4th quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker’s stock worth $1,794,000 after buying an additional 51 shares during the period. Sharpepoint LLC lifted its holdings in Apple by 3.5% in the 1st quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker’s stock worth $322,000 after buying an additional 51 shares during the period. Finally, Redwood Financial Network Corp lifted its holdings in Apple by 0.6% in the 4th quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker’s stock worth $2,184,000 after buying an additional 53 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AAPL has been the subject of several research analyst reports. Barclays increased their price objective on Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a report on Friday, August 1st. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a research report on Friday, July 25th. HSBC set a $220.00 price target on shares of Apple and gave the company a “hold” rating in a research report on Monday. Morgan Stanley set a $240.00 price target on shares of Apple and gave the company an “overweight” rating in a research report on Wednesday, September 3rd. Finally, Monness Crespi & Hardt boosted their price target on shares of Apple from $245.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $242.16.

Insider Transactions at Apple

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of Apple stock in a transaction on Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the transaction, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.06% of the company’s stock.

Apple Stock Down 3.2%

Shares of NASDAQ:AAPL opened at $226.79 on Thursday. The stock has a fifty day simple moving average of $220.75 and a two-hundred day simple moving average of $212.60. The stock has a market capitalization of $3.37 trillion, a price-to-earnings ratio of 34.41, a PEG ratio of 2.45 and a beta of 1.11. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. 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 announced 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. The business had revenue of $94.04 billion during the quarter, compared to analysts’ expectations of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.40 earnings per share. On average, research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.5%. Apple’s payout ratio is presently 15.78%.

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.