Chesley Taft & Associates LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 374,787 shares of the iPhone maker’s stock after selling 9,037 shares during the period. Apple comprises about 3.7% of Chesley Taft & Associates LLC’s investment portfolio, making the stock its 3rd largest holding. Chesley Taft & Associates LLC’s holdings in Apple were worth $62,837,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Pflug Koory LLC grew its stake in shares of Apple by 0.4% during the first quarter. Pflug Koory LLC now owns 67,791 shares of the iPhone maker’s stock valued at $11,837,000 after acquiring an additional 303 shares in the last quarter. Rosenberg Matthew Hamilton grew its stake in Apple by 1.3% in the first quarter. Rosenberg Matthew Hamilton now owns 13,264 shares of the iPhone maker’s stock worth $2,316,000 after purchasing an additional 171 shares in the last quarter. Caliber Wealth Management LLC grew its stake in Apple by 9.9% in the first quarter. Caliber Wealth Management LLC now owns 22,360 shares of the iPhone maker’s stock worth $3,904,000 after purchasing an additional 2,017 shares in the last quarter. Atlas Brown Inc. grew its stake in Apple by 1.4% in the first quarter. Atlas Brown Inc. now owns 80,639 shares of the iPhone maker’s stock worth $14,080,000 after purchasing an additional 1,143 shares in the last quarter. Finally, Corbenic Partners LLC grew its stake in Apple by 2.2% in the first quarter. Corbenic Partners LLC now owns 70,491 shares of the iPhone maker’s stock worth $12,308,000 after purchasing an additional 1,515 shares in the last quarter. Institutional investors own 57.98% of the company’s stock.
A number of research firms recently commented on AAPL. Sanford C. Bernstein set a $170.00 price target on Apple in a research note on Monday, May 2nd. Deutsche Bank Rese… set a $210.00 price target on Apple in a research note on Friday, April 8th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Apple from $200.00 to $175.00 in a report on Tuesday, June 14th. StockNews.com started coverage on shares of Apple in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Piper Sandler cut their target price on shares of Apple from $200.00 to $195.00 in a report on Friday, April 29th. Nine research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $185.64.
In other Apple news, SVP Deirdre O’brien sold 8,000 shares of Apple stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $164.91, for a total transaction of $1,319,280.00. Following the transaction, the senior vice president now directly owns 136,290 shares in the company, valued at approximately $22,475,583.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction that occurred 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 transaction, the senior vice president now owns 452,334 shares in the company, valued at $73,151,454.48. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.
Apple stock opened at $138.93 on Monday. 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 firm has a market cap of $2.25 trillion, a price-to-earnings ratio of 22.55, a price-to-earnings-growth ratio of 1.82 and a beta of 1.19. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The firm’s 50 day moving average price is $145.41 and its two-hundred day moving average price is $160.86.
Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings results on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.09. The firm had revenue of $97.28 billion for the quarter, compared to analyst estimates of $93.99 billion. Apple had a net margin of 26.41% and a return on equity of 152.88%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.40 earnings per share. As a group, equities analysts predict that Apple Inc. will post 6.1 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 12th. Shareholders of record on Monday, May 9th were given a $0.23 dividend. 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 annualized dividend and a yield of 0.66%. Apple’s payout ratio is 14.94%.
Apple announced that its Board of Directors has initiated a share repurchase plan on Thursday, April 28th that authorizes the company to buy back $90.00 billion in shares. This buyback authorization authorizes the iPhone maker to buy up to 3.5% of its shares through open market purchases. Share buyback plans are generally a sign that the company’s leadership believes its stock is 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 including AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.
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