Bridgeway Capital Management LLC Has $33.03 Million Stock Position in Apple Inc. $AAPL

Bridgeway Capital Management LLC raised its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 148,710 shares of the iPhone maker’s stock after purchasing an additional 2,357 shares during the period. Apple accounts for 0.8% of Bridgeway Capital Management LLC’s portfolio, making the stock its 4th largest position. Bridgeway Capital Management LLC’s holdings in Apple were worth $33,033,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Advanced Portfolio Management LLC increased its position in shares of Apple by 0.3% during the fourth 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 in the last quarter. Salus Financial Advisors LLC increased its position in shares of Apple by 3.9% during the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock valued at $291,000 after acquiring an additional 49 shares in the last quarter. Sharpepoint LLC increased its position in shares of Apple by 3.5% during the first quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker’s stock valued at $322,000 after acquiring an additional 51 shares in the last quarter. Mission Hills Financial Advisory LLC increased its position in shares of Apple by 1.3% during the first quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker’s stock valued at $892,000 after acquiring an additional 53 shares in the last quarter. Finally, Redwood Financial Network Corp increased its position in shares of Apple by 0.6% during the fourth quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker’s stock valued at $2,184,000 after acquiring an additional 53 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the subject of several analyst reports. Raymond James Financial reissued an “outperform” rating and set a $240.00 price target (up previously from $230.00) on shares of Apple in a research report on Friday, August 1st. Loop Capital reduced their price target on shares of Apple from $230.00 to $226.00 and set a “hold” rating for the company in a research report on Thursday, August 21st. Citigroup reissued a “buy” rating on shares of Apple in a research report on Wednesday. Moffett Nathanson raised shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 price target for the company in a research report on Thursday, September 4th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $266.00 price target on shares of Apple in a research report on Tuesday, August 26th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus target price of $240.80.

Insider Buying and Selling at Apple

In other news, SVP Deirdre O’brien sold 34,821 shares of Apple stock in a transaction on 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 $30,508,538.40. This trade represents a 20.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.06% of the stock is owned by corporate insiders.

Apple Trading Up 1.8%

Shares of AAPL stock opened at $234.07 on Friday. 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. The firm’s 50 day moving average is $221.50 and its 200 day moving average is $212.39. The stock has a market capitalization of $3.47 trillion, a P/E ratio of 35.52, a P/E/G ratio of 2.39 and a beta of 1.11.

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, topping 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 company’s revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.40 EPS. Research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend 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%.

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.