Malaga Cove Capital LLC Has $3.94 Million Holdings in Apple Inc. $AAPL

Malaga Cove Capital LLC lifted its holdings in Apple Inc. (NASDAQ:AAPL) by 8.4% in the 1st quarter, Holdings Channel reports. The firm owned 17,714 shares of the iPhone maker’s stock after buying an additional 1,376 shares during the quarter. Apple accounts for 1.7% of Malaga Cove Capital LLC’s portfolio, making the stock its 12th biggest holding. Malaga Cove Capital LLC’s holdings in Apple were worth $3,935,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Conquis Financial LLC bought a new stake in Apple during the fourth quarter worth approximately $63,000. LSV Asset Management bought a new stake in Apple during the fourth quarter worth approximately $65,000. Elite Financial Inc. bought a new stake in Apple during the first quarter worth approximately $58,000. Pillar Financial Advisors LLC bought a new stake in Apple during the fourth quarter worth approximately $82,000. Finally, Sellwood Investment Partners LLC bought a new stake in Apple during the fourth quarter worth approximately $147,000. Institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AAPL shares. Evercore ISI reaffirmed an “outperform” rating and set a $250.00 target price on shares of Apple in a research report on Wednesday, August 13th. Moffett Nathanson upgraded Apple from a “sell” rating to a “neutral” rating and set a $225.00 price target for the company in a report on Thursday. UBS Group upped their price target on Apple from $210.00 to $220.00 and gave the stock a “neutral” rating in a report on Friday, August 1st. Jefferies Financial Group upgraded Apple from an “underperform” rating to a “hold” rating in a report on Friday, July 18th. Finally, Loop Capital cut their price target on Apple from $230.00 to $226.00 and set a “hold” rating for the company in a report on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $239.05.

Insider Buying and Selling

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of the business’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the transaction, the senior vice president directly owned 136,687 shares in the company, valued at $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is currently owned by company insiders.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $239.69 on Friday. The business has a fifty day simple moving average of $219.28 and a 200 day simple moving average of $212.86. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $3.56 trillion, a price-to-earnings ratio of 36.37, a PEG ratio of 2.50 and a beta of 1.11. Apple Inc. has a one year low of $169.21 and a one year high of $260.10.

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

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple’s dividend payout ratio is currently 15.78%.

About Apple

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.