Wolff Financial Management LLC raised its holdings in Apple Inc. (NASDAQ:AAPL) by 6.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,675 shares of the iPhone maker’s stock after purchasing an additional 301 shares during the quarter. Wolff Financial Management LLC’s holdings in Apple were worth $925,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in AAPL. Fisher Asset Management LLC boosted its stake in shares of Apple by 3.4% during the 4th quarter. Fisher Asset Management LLC now owns 12,766,487 shares of the iPhone maker’s stock worth $2,013,786,000 after acquiring an additional 417,421 shares in the last quarter. Amundi Pioneer Asset Management Inc. boosted its stake in shares of Apple by 4.3% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 10,155,585 shares of the iPhone maker’s stock worth $1,929,054,000 after acquiring an additional 414,856 shares in the last quarter. Thoroughbred Financial Services LLC boosted its stake in shares of Apple by 19,949.3% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 10,055,128 shares of the iPhone maker’s stock worth $1,005,513,000 after acquiring an additional 10,004,976 shares in the last quarter. Sanders Capital LLC boosted its stake in shares of Apple by 3.0% during the 2nd quarter. Sanders Capital LLC now owns 8,376,114 shares of the iPhone maker’s stock worth $1,815,725,000 after acquiring an additional 241,940 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its stake in shares of Apple by 4.0% during the 1st quarter. Clearbridge Investments LLC now owns 7,652,260 shares of the iPhone maker’s stock worth $1,453,547,000 after acquiring an additional 295,102 shares in the last quarter. 59.67% of the stock is currently owned by institutional investors.
Shares of AAPL opened at $208.97 on Wednesday. The company has a fifty day simple moving average of $203.54. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.50 and a quick ratio of 1.47. The firm has a market cap of $908.31 billion, a P/E ratio of 17.55, a PEG ratio of 1.69 and a beta of 1.25. Apple Inc. has a fifty-two week low of $142.00 and a fifty-two week high of $233.47.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, August 12th will be issued a $0.77 dividend. The ex-dividend date is Friday, August 9th. This represents a $3.08 annualized dividend and a yield of 1.47%. Apple’s dividend payout ratio (DPR) is presently 25.86%.
Apple declared that its Board of Directors has authorized a stock buyback plan on Tuesday, April 30th that allows the company to repurchase $75.00 billion in shares. This repurchase authorization allows the iPhone maker to repurchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
Several equities research analysts have recently commented on the company. Cowen boosted their price target on Apple from $220.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Sanford C. Bernstein reissued a “neutral” rating and set a $205.00 price target on shares of Apple in a research note on Wednesday, July 31st. Morgan Stanley set a $247.00 price target on Apple and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Evercore ISI assumed coverage on Apple in a research note on Thursday, June 6th. They set an “outperform” rating and a $205.00 price target on the stock. Finally, BTIG Research boosted their price target on Apple to $234.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Four research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $217.12.
In other Apple news, insider Chris Kondo sold 4,376 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $217.47, for a total value of $951,648.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arthur D. Levinson sold 17,500 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $214.02, for a total value of $3,745,350.00. Following the completion of the transaction, the director now owns 1,150,783 shares of the company’s stock, valued at $246,290,577.66. The disclosure for this sale can be found here. Insiders own 0.05% of the company’s stock.
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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