Kays Financial Advisory Corp ADV grew its stake in Apple Inc. (NASDAQ:AAPL) by 1.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,522 shares of the iPhone maker’s stock after purchasing an additional 395 shares during the period. Apple comprises approximately 1.1% of Kays Financial Advisory Corp ADV’s investment portfolio, making the stock its 19th largest position. Kays Financial Advisory Corp ADV’s holdings in Apple were worth $5,842,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Monument Capital Management raised its holdings in Apple by 2.2% in the 2nd quarter. Monument Capital Management now owns 2,438 shares of the iPhone maker’s stock valued at $491,000 after buying an additional 53 shares during the last quarter. Rockland Trust Co. raised its holdings in Apple by 4.8% in the 2nd quarter. Rockland Trust Co. now owns 20,618 shares of the iPhone maker’s stock valued at $4,081,000 after buying an additional 948 shares during the last quarter. Pecaut & CO. raised its holdings in Apple by 3.0% in the 1st quarter. Pecaut & CO. now owns 59,894 shares of the iPhone maker’s stock valued at $11,377,000 after buying an additional 1,725 shares during the last quarter. Founders Capital Management LLC raised its holdings in Apple by 164.2% in the 4th quarter. Founders Capital Management LLC now owns 15,120 shares of the iPhone maker’s stock valued at $2,385,000 after buying an additional 9,396 shares during the last quarter. Finally, Verity & Verity LLC raised its holdings in Apple by 1.6% in the 2nd quarter. Verity & Verity LLC now owns 53,515 shares of the iPhone maker’s stock valued at $10,592,000 after buying an additional 836 shares during the last quarter. Institutional investors own 59.67% of the company’s stock.
A number of research analysts recently issued reports on the stock. UBS Group raised their price objective on shares of Apple from $225.00 to $235.00 and gave the company a “buy” rating in a report on Monday, July 29th. Canaccord Genuity reiterated a “buy” rating and issued a $240.00 price objective (up previously from $202.00) on shares of Apple in a report on Wednesday, July 31st. Credit Suisse Group set a $209.00 price objective on shares of Apple and gave the company a “neutral” rating in a report on Tuesday. Monness Crespi & Hardt reiterated a “buy” rating and issued a $265.00 price objective (up previously from $245.00) on shares of Apple in a report on Wednesday, July 31st. Finally, Barclays assumed coverage on shares of Apple in a report on Wednesday, August 7th. They issued an “equal weight” rating and a $192.00 price objective for the company. Four analysts have rated the stock with a sell rating, nineteen have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $217.12.
Apple stock opened at $208.97 on Wednesday. The company has a current ratio of 1.50, a quick ratio of 1.47 and a debt-to-equity ratio of 0.88. Apple Inc. has a 52-week low of $142.00 and a 52-week high of $233.47. The stock’s 50 day moving average price is $203.54. The company has a market cap of $908.31 billion, a price-to-earnings ratio of 17.55, a price-to-earnings-growth ratio of 1.69 and a beta of 1.25.
Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, July 30th. The iPhone maker reported $2.18 EPS for the quarter, topping the consensus estimate of $2.10 by $0.08. The company had revenue of $53.81 billion during the quarter, compared to the consensus estimate of $53.39 billion. Apple had a net margin of 21.50% and a return on equity of 52.13%. The company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.34 EPS. Equities research analysts expect that Apple Inc. will post 11.58 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, August 12th will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Friday, August 9th. Apple’s dividend payout ratio (DPR) is 25.86%.
Apple announced that its Board of Directors has approved a stock repurchase program on Tuesday, April 30th that authorizes the company to buyback $75.00 billion in shares. This buyback authorization authorizes the iPhone maker to buy up to 7.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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