Advisors Management Group Inc. ADV Raises Holdings in Apple Inc. (NASDAQ:AAPL)



Advisors Management Group Inc. ADV lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 4.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,953 shares of the iPhone maker’s stock after purchasing an additional 1,717 shares during the period. Apple comprises approximately 1.9% of Advisors Management Group Inc. ADV’s holdings, making the stock its 15th biggest holding. Advisors Management Group Inc. ADV’s holdings in Apple were worth $7,537,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Norges Bank acquired a new position in shares of Apple in the 4th quarter valued at $33,912,466,000. International Assets Investment Management LLC boosted its holdings in shares of Apple by 14,395.4% in the 4th quarter. International Assets Investment Management LLC now owns 70,700,395 shares of the iPhone maker’s stock valued at $136,119,470,000 after purchasing an additional 70,212,651 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Apple by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after purchasing an additional 18,067,216 shares during the last quarter. Global Assets Advisory LLC lifted its holdings in shares of Apple by 23,076.4% during the 1st quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock valued at $1,584,512,000 after acquiring an additional 9,200,345 shares in the last quarter. Finally, Cerity Partners LLC lifted its holdings in shares of Apple by 130.1% during the 4th quarter. Cerity Partners LLC now owns 9,430,190 shares of the iPhone maker’s stock valued at $1,815,594,000 after acquiring an additional 5,331,439 shares in the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Apple Price Performance

NASDAQ AAPL opened at $228.68 on Wednesday. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $229.40. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. The stock has a market cap of $3.51 trillion, a price-to-earnings ratio of 35.56, a price-to-earnings-growth ratio of 2.75 and a beta of 1.24. The company has a 50-day moving average price of $199.69 and a two-hundred day moving average price of $186.66.

Apple (NASDAQ:AAPL – Get Free Report) last posted its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, topping the consensus estimate of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 148.33%. The firm had revenue of $90.75 billion during the quarter, compared to analysts’ expectations of $90.37 billion. During the same quarter in the prior year, the firm earned $1.52 EPS. Apple’s quarterly revenue was down 4.3% on a year-over-year basis. Analysts forecast that Apple Inc. will post 6.59 EPS for the current year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were paid a $0.25 dividend. This is a positive change from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Friday, May 10th. Apple’s dividend payout ratio is currently 15.55%.

Apple announced that its Board of Directors has approved a stock buyback plan on Thursday, May 2nd that permits the company to repurchase $110.00 billion in shares. This repurchase authorization permits the iPhone maker to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts recently weighed in on AAPL shares. Piper Sandler Companies restated a “neutral” rating and set a $225.00 target price (up previously from $190.00) on shares of Apple in a report on Tuesday. Monness Crespi & Hardt restated a “buy” rating and set a $205.00 target price on shares of Apple in a report on Thursday, June 6th. Tigress Financial lifted their target price on shares of Apple from $240.00 to $245.00 and gave the company a “strong-buy” rating in a report on Thursday, May 30th. DA Davidson upgraded shares of Apple from a “neutral” rating to a “buy” rating and lifted their target price for the company from $200.00 to $230.00 in a report on Tuesday, June 11th. Finally, Citigroup cut their price objective on shares of Apple from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $217.29.

Get Our Latest Report on Apple

Insider Transactions at Apple

In other news, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the sale, the director now directly owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the sale, the director now directly owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 59,162 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $172.22, for a total transaction of $10,188,879.64. Following the completion of the sale, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at $84,378,155.68. The disclosure for this sale can be found here. In the last three months, insiders sold 192,355 shares of company stock valued at $34,771,329. Company insiders own 0.06% of the company’s stock.

About Apple

(Free Report)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

Read More

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)



Receive News & Ratings for Apple Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Apple and related companies with MarketBeat.com’s FREE daily email newsletter.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *