Free Report) by 2.5% NASDAQ during the first quarter, Apple according to the company’s latest Form 13F filing with the SEC. Following the purchase of an additional 376 shares during the quarter, the firm now owns 15,356 shares of the iPhone maker’s stock. Apple represents approximately 1.5% of Myecfo LLC’s portfolio, ranking as its 14th largest holding. At the end of the first quarter, Myecfo LLC’s stake in Apple was valued at $2,633,000.
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Apple
In addition to Myecfo LLC, several other institutional investors have recently adjusted their positions in AAPL. EP Wealth Advisors LLC raised its stake in Apple by 10.2% during the third quarter. EP Wealth Advisors LLC now holds 1,692,472 shares of the iPhone maker’s stock, valued at $289,768,000 after acquiring an additional 156,951 shares in the last quarter. Fortis Group Advisors LLC increased its holdings by 7.8% in the same period, owning 59,081 shares of Apple valued at $9,768,000 after purchasing an additional 4,269 shares. Tucker Asset Management LLC also saw an increase of 0.8% in its Apple holdings during the third quarter, now owning 16,335 shares valued at $2,797,000 after adding 130 shares. Furthermore, WT Wealth Management boosted its stake by 13.7% in the third quarter to 33,881 shares, valued at $5,801,000 after purchasing an additional 4,084 shares. Finally, Austin Wealth Management LLC initiated a new position in Apple during the third quarter, valued at $3,428,000. Institutional investors now own 60.41% of Apple’s outstanding stock.
Regarding insider activity at Apple, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $191.58, amounting to a total sale of $14,368,500. Following this transaction, Levinson now holds 4,359,576 shares valued at $835,207,570.08. Insider Chris Kondo also sold 4,999 shares of Apple stock on Wednesday, May 15th, at an average price of $190.40, totaling $951,809.60. Following the sale, Kondo owns 29,278 shares valued at $5,574,531.20. Details of these transactions were disclosed in filings with the Securities & Exchange Commission, available on the SEC website. Insider ownership represents 0.06% of Apple’s total stock.
As of Monday’s opening, AAPL shares traded at $230.54. The company boasts a market capitalization of $3.54 trillion, with a P/E ratio of 35.85, a PEG ratio of 2.80, and a beta of 1.24. Apple has a quick ratio of 0.99 and a current ratio of 1.04, alongside a debt-to-equity ratio of 1.24. The stock has a 50-day moving average of $203.00 and a 200-day moving average of $187.44. AAPL has traded between a 52-week low of $164.07 and a high of $233.08.
In its latest earnings report on Thursday, May 2nd, Apple posted earnings per share of $1.53 for the quarter, surpassing the consensus estimate of $1.51 by $0.02. The company reported revenue of $90.75 billion for the quarter, compared to an anticipated $90.37 billion. Apple achieved a net margin of 26.31% and a return on equity of 148.33%, with quarterly revenue decreasing 4.3% year-over-year. In the same quarter the previous year, AAPL earned $1.52 earnings per share. Analysts forecast earnings per share of $6.59 for the current fiscal year.
On Thursday, May 2nd, Apple’s Board of Directors initiated a $110.00 billion stock buyback program, authorizing the repurchase of up to 3.9% of its outstanding shares through open market transactions. This move typically indicates that management believes the stock is undervalued.
Apple also announced an increased quarterly dividend, paid on Thursday, May 16th. Shareholders of record as of Monday, May 13th received a dividend of $0.25 per share. The ex-dividend date for this payment was Friday, May 10th. This represents an annualized dividend of $1.00 and a yield of 0.43%, up from Apple’s prior quarterly dividend of $0.24. The company’s dividend payout ratio (DPR) stands at 15.55%.
Recent analyst opinions on AAPL include a rating upgrade by Rosenblatt Securities from “neutral” to “buy,” with a target price raised from $196.00 to $260.00. DZ Bank reaffirmed a “hold” rating with a $180.00 target price on Apple stock on Thursday, March 28th. Bank of America reiterated a “buy” rating with a $230.00 price target on Tuesday, July 9th. Loop Capital lowered their price target on Apple from $185.00 to $170.00, maintaining a “hold” rating on Monday, April 1st. Lastly, Needham & Company LLC raised their price target on AAPL from $220.00 to $260.00, issuing a “buy” rating on Wednesday, July 10th. MarketBeat.com data indicates AAPL currently holds an average rating of “Moderate Buy” with an average price target of $218.43 per share.
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