Piscataqua Savings Bank raised its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.5% in the 1st quarter, according to its latest disclosure to the SEC. The fund held 47,546 shares of the iPhone maker after acquiring an additional 684 shares during the period. Apple represents 5.9% of Piscataqua Savings Bank’s portfolio, making the stock its second largest holding. Piscataqua Savings Bank’s holdings in Apple were worth $8,302,000 at the end of the last reporting period.
Other institutional investors have also recently increased or reduced their stake in the company. Joseph Group Capital Management bought a new position in Apple stock during the fourth quarter for a value of approximately $1,631,000. Cardinal Capital Management Inc. increased its stake in Apple by 5,525.0% in the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker worth $39,000 after buying 221 additional shares during the period. Shore Point Advisors LLC acquired a new stake in Apple in the fourth quarter worth approximately $41,000. St. James Investment Advisors LLC acquired a new stake in Apple in the fourth quarter worth approximately $57,000. Finally, Econ Financial Services Corp acquired a new stake in Apple in the fourth quarter worth about $58,000. Institutional investors and hedge funds hold 57.98% of the company’s shares.
Several research companies have recently weighed in on AAPL. Evercore ISI cut its price target on Apple shares from $210.00 to $180.00 and set an “outperform” rating for the company in a Tuesday, June 28 report. Morgan Stanley cut its price target on Apple shares from $195.00 to $185.00 and set an “overweight” rating for the company in a Tuesday, June 14 report. JPMorgan Chase & Co. set a price target of $200.00 on Apple stock in a Friday July 1 report. Rosenblatt Securities cut its price target on Apple shares from $184.00 to $168.00 and set a “neutral” rating for the company in a Monday, May 2 report. Finally, Goldman Sachs Group cut its price target on Apple shares from $157.00 to $130.00 and set a “neutral” rating for the company in a report released Wednesday. Nine research analysts gave the stock a hold rating, twenty-four gave the company a buy rating and one gave the company a strong buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “moderate buy” and an average target price of $184.83.
Separately, SVP Katherine L. Adams sold 25,000 shares of the company in a trade on Wednesday, May 4. The stock was sold at an average price of $161.72, for a total value of $4,043,000.00. Following the completion of the sale, the Senior Vice President now directly owns 452,334 shares of the company, valued at $73,151,454.48. The sale was disclosed in a filing with the SEC, accessible via this link. Additionally, SVP Deirdre O’brien sold 8,000 shares of the company in a trade on Monday, April 18. The shares were sold at an average price of $164.91, for a total value of $1,319,280.00. Following the completion of the sale, the senior vice president now owns 136,290 shares of the company, valued at $22,475,583.90. The disclosure of this sale can be found here. Company insiders own 0.06% of the company’s shares.
AAPL shares opened at $142.92 on Thursday. The stock has a market capitalization of $2.31 trillion, a P/E ratio of 23.20, a price-to-earnings growth ratio of 1.82 and a beta of 1.19. Apple Inc. has a one-year low of $129.04 and a one-year high of $182.94. The stock has a fifty-day moving average price of $144.35 and a 200-day moving average price of $160.38. The company has a debt ratio of 1.53, a current ratio of 0.93 and a quick ratio of 0.88.
Apple (NASDAQ:AAPL – Get Rating) last released quarterly earnings data on Thursday, April 28. The iPhone maker reported earnings per share (EPS) of $1.52 for the quarter, beating the consensus estimate of $1.43 by $0.09. Apple had a return on equity of 152.88% and a net margin of 26.41%. The company posted revenue of $97.28 billion in the quarter, versus analyst estimates of $93.99 billion. In the same period a year earlier, the company posted earnings per share of $1.40. The company’s revenue for the quarter increased by 8.6% compared to the same quarter last year. Equity research analysts expect Apple Inc. to post EPS of 6.1 for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 12. Shareholders of record on Monday, May 9 received a dividend of $0.23 per share. This is a positive change from Apple’s previous quarterly dividend of $0.22. This represents an annualized dividend of $0.92 and a yield of 0.64%. The ex-dividend date was Friday, May 6. Apple’s dividend payout ratio is currently 14.94%.
Apple announced that its board of directors on Thursday (April 28th) authorized a stock repurchase plan that allows the company to repurchase $90.00 billion in stock. This repurchase authorization allows the iPhone maker to purchase up to 3.5% of its shares through open market purchases. Stock repurchase plans usually indicate that the company’s board of directors believe its stock is undervalued.
About Apple (Get an assessment)
Apple Inc designs, manufactures and markets smartphones, personal computers, tablets, wearables and accessories worldwide. It also sells various related services. Additionally, the company offers iPhone, a range of smartphones; Mac, a line of personal computers; iPad, a range of versatile tablets; AirPods Max, an over-ear wireless headset; and wearables, home and accessories including AirPods, Apple TV, Apple Watch, Beats products, HomePod and iPod touch.
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