Briaud Financial Planning Inc. raised its position in Apple Inc. (NASDAQ: AAPL – Get Rating) by 13.1% during the 1st quarter, according to the company in its latest filing with the SEC. The fund held 4,696 shares of the iPhone maker after buying an additional 544 shares during the quarter. Apple accounts for about 0.5% of Briaud Financial Planning Inc’s holdings, making the stock its 12th largest holding. Briaud Financial Planning Inc’s holdings in Apple were worth $819,000 at the end of the last reporting period.
Several other large investors also changed their positions in AAPL. Bailey Value Limited Partnership purchased a new stake in Apple during Q4 worth approximately $10,654,000. Qube Research & Technologies Ltd increased its stake in Apple by 145.8% during the 4th quarter. Qube Research & Technologies Ltd now owns 643,206 shares of the iPhone maker worth $114,214,000 after acquiring 381,507 additional shares in the last quarter. Asahi Life Asset Management CO. LTD. increased its stake in Apple by 1.1% during the 4th quarter. Asahi Life Asset Management CO. LTD. now owns 222,838 shares of the iPhone maker worth $39,569,000 after acquiring 2,402 additional shares in the last quarter. Cim Investment Management Inc. increased its stake in Apple by 89.9% during the 4th quarter. Cim Investment Management Inc. now owns 131,529 shares of the iPhone maker worth $20,858,000 after acquiring 62,283 additional shares in the last quarter. Finally, Foster Group Inc. increased its stake in Apple by 1.4% during the 4th quarter. Foster Group Inc. now owns 133,529 shares of the iPhone maker worth $23,711,000 after acquiring 1,870 additional shares in the last quarter. Institutional investors hold 57.62% of the company’s shares.
Insider trading at Apple
Separately, SVP Katherine L. Adams sold 25,000 shares of the company in a trade on Wednesday, August 3. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of the transaction, the senior vice president now directly owns 427,334 shares of the company, valued at $70,411,823.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available via this link. Insiders of the company hold 0.06% of the shares of the company.
Apple price performance
Shares of AAPL opened at $174.15 on Friday. The stock has a market capitalization of $2.80 trillion, a P/E ratio of 28.74, a P/E/G ratio of 2.24 and a beta of 1.23. Apple Inc. has a 12-month low of $129.04 and a 12-month high of $182.94. The company has a 50-day moving average of $150.45 and a 200-day moving average of $157.51. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt ratio of 1.63.
Apple (NASDAQ:AAPL – Get Rating) last released its quarterly results on Thursday, July 28. The iPhone maker reported earnings per share of $1.20 for the quarter, beating the consensus estimate of $1.14 by $0.06. The company posted revenue of $82.96 billion in the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The company’s quarterly revenue increased 1.9% year over year. During the same period last year, the company achieved EPS of $1.30. As a group, equity research analysts expect Apple Inc. to post 6.1 EPS for the current fiscal year.
Apple said its board authorized a stock repurchase plan on Thursday, April 28 that sees the company repurchase $90.00 billion worth of stock. This repurchase authorization allows the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Stock buyback plans are usually a sign that a company’s management believes its stock is undervalued.
Apple dividend announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, August 11. Shareholders of record on Monday August 8 received a dividend of $0.23 per share. The ex-dividend date was Friday August 5th. This represents an annualized dividend of $0.92 and a dividend yield of 0.53%. Apple’s dividend payout ratio is currently 15.18%.
Analyst upgrades and downgrades
AAPL has been the subject of a number of research analyst reports. Morgan Stanley lowered its price target on Apple shares from $185.00 to $180.00 and set an “overweight” rating on the stock in a Wednesday, July 20 report. Credit Suisse Group upgraded Apple shares from a “neutral” rating to an “outperforming” rating and set a price target of $201.00 on the stock in a report on Tuesday. Itau BBA Securities began covering Apple shares in a research note on Tuesday, July 26. They issued an “underperforming” rating and a target price of $136.00 for the stock. UBS Group set a target price of $185.00 on Apple shares in a Thursday, July 21 research note. Finally, Evercore ISI raised its price target on Apple shares from $180.00 to $185.00 in a Friday, July 29 research note. Two analysts have assigned the stock a sell rating, seven have issued a hold rating, twenty-four have issued a buy rating and one has assigned the company a strong buy rating. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $180.94.
Apple Company Profile
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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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