Agate Pass Investment Management LLC Buys 225 Shares of Apple Inc. (NASDAQ:AAPL)

Agate Pass Investment Management LLC lifted its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 0.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 43,626 shares of the iPhone maker’s stock after acquiring an additional 225 shares during the quarter. Apple accounts for 4.8% of Agate Pass Investment Management LLC’s investment portfolio, making the stock its 3rd largest position. Agate Pass Investment Management LLC’s holdings in Apple were worth $7,618,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Daniels&Tansey LLP lifted its stake in shares of Apple by 1.6% in the 4th quarter. Daniels&Tansey LLP now owns 3,858 shares of the iPhone maker’s stock worth $685,000 after acquiring an additional 60 shares during the period. Donald L. Hagan LLC lifted its stake in shares of Apple by 0.3% in the 1st quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock worth $3,181,000 after acquiring an additional 61 shares during the period. Goodwin Daniel L lifted its stake in shares of Apple by 0.5% in the first quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock valued at $2,230,000 after purchasing an additional 62 shares during the period. Opus Capital Group LLC lifted its stake in shares of Apple by 0.3% in the first quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock valued at $3,332,000 after purchasing an additional 63 shares during the period. Finally, Norwood Financial Corp lifted its stake in shares of Apple by 0.9% in the first quarter. Norwood Financial Corp now owns 7,025 shares of the iPhone maker’s stock valued at $1,227,000 after purchasing an additional 65 shares during the period. 57.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on AAPL. Itau BBA Securities began coverage on shares of Apple in a research note on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price objective for the company. Deutsche Bank Aktiengesellschaft set a $175.00 price objective on shares of Apple in a research note on Monday, August 1st. Sanford C. Bernstein set a $170.00 price objective on shares of Apple in a research note on Monday, May 2nd. JPMorgan Chase & Co. set a $200.00 price objective on shares of Apple in a research note on Monday, July 25th. Finally, Evercore ISI raised their target price on shares of Apple from $180.00 to $185.00 in a report on Friday, July 29th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $179.27.

Insider Buying and Selling

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of the transaction, the senior vice president now owns 427,334 shares in the company, valued at approximately $70,411,823.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Down 0.1 %

AAPL opened at $165.35 on Friday. The firm has a 50 day moving average price of $146.34 and a 200 day moving average price of $157.12. The company has a market cap of $2.66 trillion, a PE ratio of 27.29, a price-to-earnings-growth ratio of 2.15 and a beta of 1.23. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86.

Apple (NASDAQ:AAPLGet Rating) last posted its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. The firm had revenue of $82.96 billion during the quarter, compared to the consensus estimate of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The company’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.30 EPS. Sell-side analysts expect that Apple Inc. will post 6.1 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Monday, August 8th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Friday, August 5th. Apple’s dividend payout ratio (DPR) is presently 15.18%.

Apple declared that its board has authorized a share buyback program on Thursday, April 28th that authorizes the company to repurchase $90.00 billion in shares. This repurchase authorization authorizes the iPhone maker to reacquire up to 3.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Apple Company Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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