Cambridge Advisors Inc. Raises Position in Apple Inc. (NASDAQ:AAPL)

Cambridge Advisors Inc. grew its holdings in Apple Inc. (NASDAQ:AAPL) by 0.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 40,656 shares of the iPhone maker’s stock after buying an additional 380 shares during the quarter. Apple comprises about 2.0% of Cambridge Advisors Inc.’s investment portfolio, making the stock its 12th largest holding. Cambridge Advisors Inc.’s holdings in Apple were worth $9,031,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of AAPL. Advanced Portfolio Management LLC grew its holdings in shares of Apple by 0.3% in the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock worth $3,260,000 after acquiring an additional 47 shares during the period. Family Capital Management Inc. grew its holdings in shares of Apple by 0.3% in the 4th quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker’s stock worth $4,235,000 after acquiring an additional 48 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in shares of Apple by 0.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker’s stock worth $4,178,000 after acquiring an additional 48 shares during the period. Scarborough Advisors LLC grew its holdings in shares of Apple by 0.3% in the 4th quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker’s stock worth $3,992,000 after acquiring an additional 51 shares during the period. Finally, Disciplined Investments LLC grew its holdings in shares of Apple by 0.7% in the 4th quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker’s stock worth $1,794,000 after acquiring an additional 51 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Bank of America lifted their price objective on Apple from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. lifted their price objective on Apple from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. DA Davidson restated a “buy” rating and set a $250.00 price objective on shares of Apple in a research report on Friday, August 1st. Monness Crespi & Hardt lifted their price objective on Apple from $245.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Finally, China Renaissance assumed coverage on Apple in a research report on Tuesday, April 22nd. They set a “buy” rating and a $241.00 price objective for the company. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $237.60.

Apple Price Performance

AAPL opened at $227.18 on Tuesday. The company has a fifty day simple moving average of $207.35 and a 200 day simple moving average of $213.10. The firm has a market cap of $3.37 trillion, a price-to-earnings ratio of 34.47, a PEG ratio of 2.40 and a beta of 1.16. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.14. The business had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business’s revenue was up 9.6% on a year-over-year basis. During the same period last year, the business earned $1.40 EPS. Equities research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, August 11th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Monday, August 11th. Apple’s dividend payout ratio (DPR) is presently 15.78%.

Apple announced that its board has authorized a share buyback plan on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Apple Company Profile

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.