Wellington Shields Capital Management LLC lifted its position in Apple Inc. (NASDAQ: AAPL – Get Rating) by 3.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 185,607 shares of the iPhone maker’s stock after buying an additional 6,033 shares during the period. Apple makes up about 4.2% of Wellington Shields Capital Management LLC’s portfolio, making the stock its 3rd largest position. Wellington Shields Capital Management LLC’s holdings in Apple were worth $ 32,958,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Dark Forest Capital Management LP purchased a new stake in Apple during the 3rd quarter worth approximately $ 29,000. Joseph Group Capital Management purchased a new stake in Apple during the 4th quarter worth approximately $ 1,631,000. Shore Point Advisors LLC purchased a new stake in Apple during the 4th quarter worth approximately $ 41,000. St. James Investment Advisors LLC purchased a new stake in Apple during the 4th quarter worth approximately $ 57,000. Finally, Econ Financial Services Corp purchased a new stake in Apple during the 4th quarter worth approximately $ 58,000. 57.98% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ: AAPL opened at $ 131.88 on Tuesday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.88 and a current ratio of 0.93. The company has a fifty day moving average of $ 154.31 and a two-hundred day moving average of $ 164.22. The stock has a market capitalization of $ 2.13 trillion, a PE ratio of 21.41, a P / E / G ratio of 1.79 and a beta of 1.20. Apple Inc. has a fifty-two week low of $ 127.07 and a fifty-two week high of $ 182.94.
Apple (NASDAQ: AAPL – Get Rating) last posted its quarterly earnings data on Thursday, April 28th. The iPhone maker reported $ 1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $ 1.43 by $ 0.09. Apple had a net margin of 26.41% and a return on equity of 152.88%. The company had revenue of $ 97.28 billion during the quarter, compared to analysts’ expectations of $ 93.99 billion. During the same period in the prior year, the business posted $ 1.40 earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. Research analysts forecast that Apple Inc. will post 6.11 earnings per share for the current year.
Apple announced that its Board of Directors has initiated a share buyback plan on Thursday, April 28th that permits the company to repurchase $ 90.00 billion in shares. This repurchase authorization permits the iPhone maker to buy up to 3.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 12th. Stockholders of record on Monday, May 9th were issued a dividend of $ 0.23 per share. This is a positive change from Apple’s previous quarterly dividend of $ 0.22. The ex-dividend date was Friday, May 6th. This represents a $ 0.92 dividend on an annualized basis and a dividend yield of 0.70%. Apple’s dividend payout ratio is presently 14.94%.
In other news, COO Jeffrey E. Williams sold 105,901 shares of the company stock in a transaction on Monday, April 4th. The shares were sold at an average price of $ 177.75, for a total transaction of $ 18,823,902.75. Following the completion of the sale, the chief operating officer now owns 489,662 shares of the company stock, valued at $ 87,037,420.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Katherine L. Adams sold 25,000 shares of the company stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $ 161.72, for a total transaction of $ 4,043,000.00. Following the sale, the senior vice president now directly owns 452,334 shares of the company stock, valued at approximately $ 73,151,454.48. The disclosure for this sale can be found here. Insiders have sold 168,099 shares of company stock valued at $ 29,376,711 in the last ninety days. Insiders own 0.06% of the company stock.
Several analysts have weighed in on AAPL shares. Evercore ISI assumed coverage on Apple shares in a research report on Friday, March 25th. They set a “buy” rating and a $ 210.00 target price on the stock. Barclays set a $ 167.00 price objective on shares of Apple in a research note on Tuesday, June 7th. Morgan Stanley set a $ 195.00 price objective on shares of Apple in a research note on Friday, June 3rd. Deutsche Bank Rese… set a $ 210.00 price objective on shares of Apple in a research note on Friday, April 8th. Finally, Oppenheimer restated an “outperform” rating and set a $ 190.00 price objective on Apple shares in a research note on Wednesday, June 8th. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $ 187.61.
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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