Vident Investment Advisory LLC boosted its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 7.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 126,241 shares of the iPhone maker’s stock after acquiring an additional 8,334 shares during the period. Vident Investment Advisory LLC’s holdings in Apple were worth $22,043,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Joseph Group Capital Management purchased a new stake in Apple during the fourth quarter valued at approximately $1,631,000. Cardinal Capital Management Inc. raised its holdings in shares of Apple by 5,525.0% in the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after buying an additional 221 shares during the last quarter. Shore Point Advisors LLC purchased a new position in shares of Apple in the fourth quarter worth $41,000. Emerson Wealth LLC raised its holdings in shares of Apple by 363.6% in the first quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after buying an additional 320 shares during the last quarter. Finally, Econ Financial Services Corp raised its holdings in shares of Apple by 29.1% in the first quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock worth $74,000 after buying an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 57.72% of the company’s stock.
Apple Stock Up 1.9 %
Shares of NASDAQ AAPL opened at $157.37 on Friday. The company’s 50-day simple moving average is $158.47 and its 200-day simple moving average is $156.34. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94. The firm has a market cap of $2.53 trillion, a price-to-earnings ratio of 25.97, a price-to-earnings-growth ratio of 2.00 and a beta of 1.23. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63.
Apple Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were given a $0.23 dividend. The ex-dividend date was Friday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 0.58%. Apple’s dividend payout ratio (DPR) is 15.18%.
Wall Street Analyst Weigh In
AAPL has been the subject of a number of research analyst reports. UBS Group set a $185.00 price target on shares of Apple in a report on Thursday. Morgan Stanley decreased their price target on shares of Apple from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. Sanford C. Bernstein set a $170.00 price target on shares of Apple in a report on Tuesday, September 6th. JPMorgan Chase & Co. set a $200.00 price target on shares of Apple in a report on Tuesday, September 6th. Finally, Barclays set a $169.00 price objective on shares of Apple in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $181.31.
In other news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the sale, the senior vice president now owns 427,334 shares in the company, valued at $70,411,823.18. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Luca Maestri sold 96,735 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total value of $16,923,788.25. Following the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the completion of the transaction, the senior vice president now directly owns 427,334 shares in the company, valued at $70,411,823.18. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.
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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