Evolution Wealth Advisors LLC grew its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 8.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,587 shares of the iPhone maker shares’s stock after acquiring an additional 2,742 during the quarter. Apple comprises about 1.2% of Evolution Wealth Advisors LLC’s portfolio, making the stock its 19th biggest position. Evolution Wealth Advisors LLC’s holdings in Apple were worth $6,058,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in AAPL. ARGI Investment Services LLC boosted its position in shares of Apple by 2.5% in the 4th quarter. ARGI Investment Services LLC now owns 112,074 shares of the iPhone maker’s stock worth $19,901,000 after purchasing an additional 2,774 shares in the last quarter. Davidson Trust Co. boosted its position in shares of Apple by 15.0% in the 4th quarter. Davidson Trust Co. now owns 61,886 shares of the iPhone maker’s stock worth $10,989,000 after purchasing an additional 8,067 shares in the last quarter. Mitchell Capital Management Co. boosted its position in shares of Apple by 11.3% in the 4th quarter. Mitchell Capital Management Co. now owns 203,590 shares of the iPhone maker’s stock worth $36,151,000 after purchasing an additional 20,665 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Apple in the 4th quarter worth $9,821,000. Finally, RPG Investment Advisory LLC boosted its position in shares of Apple by 1.6% in the 4th quarter. RPG Investment Advisory LLC now owns 131,325 shares of the iPhone maker’s stock worth $23,319,000 after purchasing an additional 2,129 shares in the last quarter. 57.98% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of analysts have recently weighed in on AAPL shares. KeyCorp raised their objective price on Apple from $173.00 to $177.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 2nd. Credit Suisse Group set a $166.00 price target on Apple in a research report on Friday, July 29th. JPMorgan Chase & Co. set a $200.00 price target on Apple in a research report on Monday, July 25th. Rosenblatt Securities lowered their price target on Apple from $168.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, July 29th. Finally, Evercore ISI lifted their price target on Apple from $180.00 to $185.00 in a research report on Friday, July 29th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $179.27.
Apple Price Performance
NASDAQ:AAPL opened at $164.87 on Tuesday. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94. The stock has a 50 day moving average of $146.64 and a two-hundred day moving average of $157.02. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63. The firm has a market cap of $2.65 trillion, a P/E ratio of 27.21, a price-to-earnings-growth ratio of 2.14 and a beta of 1.23.
Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The business had revenue of $82.96 billion during the quarter, compared to analyst estimates of $82.97 billion. During the same period in the prior year, the business earned $1.30 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. On average, analysts expect that Apple Inc. will post 6.1 earnings per share for the current fiscal year.
Apple Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Monday, August 8th will be issued a $0.23 dividend. 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 is currently 15.18%.
Apple announced that its Board of Directors has initiated a share repurchase plan 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
Insider Activity at Apple
In related 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 transaction, the senior vice president now directly owns 427,334 shares in the company, valued at $70,411,823.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is currently owned by insiders.
Apple Company Profile
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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