Regatta Capital Group LLC acquired a new position in shares of Apple Inc. (NASDAQ: AAPL – Get Rating) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 135,595 shares of the iPhone maker’s stock, valued at approximately $ 24,078,000. Apple comprises about 8.4% of Regatta Capital Group LLC’s portfolio, making the stock its 2nd largest holding.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Daniels & Tansey LLP lifted its holdings in shares of Apple by 1.6% during 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 last quarter. Hanlon Investment Management Inc. lifted its holdings in shares of Apple by 0.7% during the 4th quarter. Hanlon Investment Management Inc. now owns 10,124 shares of the iPhone maker’s stock worth $ 1,798,000 after acquiring an additional 66 shares during the last quarter. Financial Planning & Information Services Inc. lifted its holdings in shares of Apple by 1.0% during the 4th quarter. Financial Planning & Information Services Inc. now owns 6,837 shares of the iPhone maker’s stock worth $ 1,214,000 after acquiring an additional 67 shares during the last quarter. Salzhauer Michael lifted its holdings in shares of Apple by 2.0% during the 4th quarter. Salzhauer Michael now owns 3,397 shares of the iPhone maker’s stock worth $ 603,000 after acquiring an additional 67 shares during the last quarter. Finally, MorganRosel Wealth Management LLC lifted its holdings in shares of Apple by 1.1% during the 4th quarter. MorganRosel Wealth Management LLC now owns 6,394 shares of the iPhone maker’s stock worth $ 1,135,000 after acquiring an additional 70 shares during the last quarter. 57.98% of the stock is owned by institutional investors.
Several research firms have weighed in on AAPL. Fundamental Research lowered their price target on Apple shares from $ 179.32 to $ 175.24 and set an “average” rating for the company in a research note on Friday, May 6th. Loop Capital lowered their price target on shares of Apple from $ 210.00 to $ 180.00 and set a “buy” rating for the company in a research note on Wednesday, May 25th. Bank of America lowered their price target on Apple shares from $ 215.00 to $ 200.00 and set a “buy” rating for the company in a research note on Thursday, May 19th. Oppenheimer reissued an “outperform” rating and issued a $ 190.00 price target on Apple shares in a research note on Wednesday, June 8th. Finally, UBS Group set a $ 185.00 price target on shares of Apple in a research note on Thursday, May 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $ 186.55.
In other news, SVP Katherine L. Adams sold 25,000 shares of the company stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $ 161.72, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Jeffrey E. Williams sold 105,901 shares of the company stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $ 177.75, for a total transaction of $ 18,823,902.75. Following the completion of the transaction, the chief operating officer now owns 489,662 shares in the company, valued at approximately $ 87,037,420.50. The disclosure for this sale can be found here. Insiders have sold 168,099 shares of company stock worth $ 29,376,711 in the last three months. 0.06% of the stock is currently owned by insiders.
Shares of NASDAQ AAPL opened at $ 131.56 on Friday. 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 1.53, a current ratio of 0.93 and a quick ratio of 0.88. The company 50-day moving average is $ 151.12 and its 200 day moving average is $ 163.35. The stock has a market capitalization of $ 2.13 trillion, a P / E ratio of 21.36, a P / E / G ratio of 1.70 and a beta of 1.20.
Apple (NASDAQ: AAPL – Get Rating) last posted its quarterly earnings data on Thursday, April 28th. The iPhone maker reported $ 1.52 EPS for the quarter, topping the consensus estimate of $ 1.43 by $ 0.09. Apple had a net margin of 26.41% and a return on equity of 152.88%. The business had revenue of $ 97.28 billion for the quarter, compared to analyst estimates of $ 93.99 billion. During the same quarter in the previous year, the firm posted $ 1.40 earnings per share. Apple’s quarterly revenue was up 8.6% on a year-over-year basis. Research analysts anticipate that Apple Inc. will post 6.11 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 12th. Investors of record on Monday, May 9th were paid a dividend of $ 0.23 per share. The ex-dividend date was Friday, May 6th. This represents a $ 0.92 annualized dividend and a yield of 0.70%. This is a positive change from Apple’s previous quarterly dividend of $ 0.22. Apple’s payout ratio is presently 14.94%.
Apple declared that its Board of Directors has initiated a stock repurchase program on Thursday, April 28th that permits the company to repurchase $ 90.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to reacquire up to 3.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company board believes its stock is undervalued.
Apple 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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