BCGM Wealth Management LLC grew its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 0.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,743 shares of the iPhone maker’s stock after purchasing an additional 177 shares during the period. Apple comprises about 1.2% of BCGM Wealth Management LLC’s portfolio, making the stock its 24th biggest position. BCGM Wealth Management LLC’s holdings in Apple were worth $3,386,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the business. Yeomans Consulting Group Inc. acquired a new position in Apple in the 4th quarter valued at $1,713,000. Raleigh Capital Management Inc. grew its stake in Apple by 11.8% in the 4th quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock valued at $2,986,000 after acquiring an additional 1,643 shares during the last quarter. GLOBALT Investments LLC GA purchased a new position in shares of Apple during the 4th quarter worth approximately $38,406,000. Barden Capital Management Inc. raised its position in shares of Apple by 132.8% during the 4th quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock worth $6,283,000 after purchasing an additional 18,615 shares during the last quarter. Finally, Sunpointe LLC purchased a new stake in Apple in the 4th quarter valued at approximately $4,782,000. Institutional investors and hedge funds own 60.41% of the company’s stock.
Apple Stock Down 4.8 %
AAPL stock opened at $209.27 on Tuesday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.23. The stock has a market cap of $3.21 trillion, a P/E ratio of 32.55, a P/E/G ratio of 2.60 and a beta of 1.24. The stock’s fifty day simple moving average is $213.76 and its two-hundred day simple moving average is $191.35. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24.
Apple (NASDAQ:AAPL – Get Free Report) last issued its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.06. The firm had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. Apple had a return on equity of 145.35% and a net margin of 26.44%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.26 earnings per share. Analysts expect that Apple Inc. will post 6.61 EPS for the current year.
Apple Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, August 12th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.48%. Apple’s dividend payout ratio is currently 15.55%.
Apple declared that its Board of Directors has initiated a share buyback plan on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
Analyst Ratings Changes
AAPL has been the topic of several recent research reports. Maxim Group upped their price objective on Apple from $195.00 to $203.00 and gave the company a “hold” rating in a research report on Friday. Morgan Stanley raised their price target on shares of Apple from $216.00 to $273.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Wedbush boosted their price objective on shares of Apple from $275.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday. JPMorgan Chase & Co. raised their target price on shares of Apple from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, Itau BBA Securities upgraded Apple from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $162.00 to $188.00 in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average price target of $234.29.
Get Our Latest Research Report on Apple
Insider Buying and Selling
In related news, Director Arthur D. Levinson sold 75,000 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the sale, the director now owns 4,359,576 shares in the company, valued at $835,207,570.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Arthur D. Levinson sold 75,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the transaction, the director now directly owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Chris Kondo sold 4,999 shares of Apple stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total transaction of $951,809.60. Following the transaction, the insider now directly owns 29,278 shares in the company, valued at $5,574,531.20. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.
Apple 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.
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