Canton Hathaway LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 5.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,061 shares of the iPhone maker’s stock after selling 2,455 shares during the period. Apple comprises 2.2% of Canton Hathaway LLC’s portfolio, making the stock its 5th largest position. Canton Hathaway LLC’s holdings in Apple were worth $7,868,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kiley Juergens Wealth Management LLC raised its holdings in Apple by 5.4% in the first quarter. Kiley Juergens Wealth Management LLC now owns 176,792 shares of the iPhone maker’s stock valued at $30,870,000 after acquiring an additional 9,054 shares in the last quarter. Fortune 45 LLC raised its holdings in Apple by 2.7% in the first quarter. Fortune 45 LLC now owns 11,538 shares of the iPhone maker’s stock valued at $2,014,000 after acquiring an additional 300 shares in the last quarter. Cooper Financial Group raised its holdings in Apple by 2.2% in the first quarter. Cooper Financial Group now owns 114,581 shares of the iPhone maker’s stock valued at $20,007,000 after acquiring an additional 2,516 shares in the last quarter. Insight Wealth Strategies LLC raised its holdings in Apple by 1.9% in the first quarter. Insight Wealth Strategies LLC now owns 64,552 shares of the iPhone maker’s stock valued at $11,271,000 after acquiring an additional 1,195 shares in the last quarter. Finally, Bromfield Sneider Wealth Advisors acquired a new stake in Apple in the first quarter valued at $161,000. 57.98% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction that occurred on Wednesday, May 4th. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Jeffrey E. Williams sold 105,901 shares of the stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $177.75, for a total value 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 sold 168,099 shares of company stock valued at $29,376,711 over the last three months. 0.06% of the stock is owned by insiders.
Several research firms recently issued reports on AAPL. Deutsche Bank Rese… set a $210.00 price target on shares of Apple in a report on Friday, April 8th. Fundamental Research lowered their target price on shares of Apple from $179.32 to $175.24 and set an “average” rating for the company in a research note on Friday, May 6th. JPMorgan Chase & Co. set a $200.00 target price on shares of Apple in a research note on Monday, June 20th. Oppenheimer reiterated an “outperform” rating and set a $190.00 target price on shares of Apple in a research note on Wednesday, June 8th. Finally, Rosenblatt Securities lowered their target price on shares of Apple from $184.00 to $168.00 and set a “neutral” rating for the company in a research note on Monday, May 2nd. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $186.55.
AAPL stock opened at $141.66 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 1.53. Apple Inc. has a one year low of $129.04 and a one year high of $182.94. The firm has a market capitalization of $2.29 trillion, a PE ratio of 23.00, a P/E/G ratio of 1.86 and a beta of 1.20. The firm has a 50-day moving average of $147.62 and a two-hundred day moving average of $161.91.
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 analysts’ consensus estimates of $1.43 by $0.09. The business had revenue of $97.28 billion during 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 revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.40 earnings per share. On average, equities research analysts anticipate that Apple Inc. will post 6.11 earnings per share for the current year.
Apple declared that its board has approved a share 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 buy up to 3.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Thursday, May 12th. Stockholders of record on Monday, May 9th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.65%. This is a positive change from Apple’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, May 6th. Apple’s dividend payout ratio is 14.94%.
About Apple (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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