Single Point Partners LLC Buys 182 Shares of Apple Inc. (NASDAQ:AAPL)

Single Point Partners LLC raised its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 17,231 shares of the iPhone maker’s stock after purchasing an additional 182 shares during the quarter. Apple accounts for about 0.7% of Single Point Partners LLC’s holdings, making the stock its 25th biggest holding. Single Point Partners LLC’s holdings in Apple were worth $2,955,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Capital Wealth Planning LLC raised its stake in Apple by 23.4% during the 3rd quarter. Capital Wealth Planning LLC now owns 2,516,840 shares of the iPhone maker’s stock valued at $430,908,000 after buying an additional 476,522 shares during the last quarter. Schneider Downs Wealth Management Advisors LP lifted its position in shares of Apple by 0.9% during the 3rd quarter. Schneider Downs Wealth Management Advisors LP now owns 28,759 shares of the iPhone maker’s stock valued at $4,924,000 after buying an additional 253 shares in the last quarter. Sfmg LLC lifted its position in shares of Apple by 6.2% in the third quarter. Sfmg LLC now owns 227,099 shares of the iPhone maker’s stock valued at $38,882,000 after acquiring an additional 13,317 shares in the last quarter. XML Financial LLC grew its position in shares of Apple by 0.3% during the third quarter. XML Financial LLC now owns 152,243 shares of the iPhone maker’s stock worth $26,066,000 after purchasing an additional 489 shares in the last quarter. Finally, Hudock Inc. increased its holdings in Apple by 1.6% in the 3rd quarter. Hudock Inc. now owns 33,784 shares of the iPhone maker’s stock valued at $5,784,000 after acquiring an additional 545 shares during the last quarter. Institutional investors own 60.41% of the company’s stock.

Insider Activity

In other news, CEO Timothy D. Cook sold 99,183 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the sale, the chief executive officer now owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Arthur D. Levinson sold 75,000 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the sale, the director now owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 99,183 shares of Apple stock in a transaction on Monday, April 1st. The stock was sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the transaction, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The disclosure for this sale can be found here. Insiders sold 346,270 shares of company stock valued at $60,880,196 in the last quarter. Company insiders own 0.06% of the company’s stock.

Apple Trading Up 0.4 %

NASDAQ:AAPL opened at $214.10 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. The company’s 50 day moving average is $190.27 and its 200-day moving average is $185.14. The firm has a market cap of $3.28 trillion, a price-to-earnings ratio of 33.30, a P/E/G ratio of 2.54 and a beta of 1.25. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $220.20.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. Apple had a return on equity of 148.33% and a net margin of 26.31%. The business had revenue of $90.75 billion during the quarter, compared to analysts’ expectations of $90.37 billion. During the same period in the prior year, the firm posted $1.52 EPS. Apple’s quarterly revenue was down 4.3% compared to the same quarter last year. Equities analysts anticipate that Apple Inc. will post 6.58 EPS for the current year.

Apple declared that its Board of Directors has approved a share buyback plan on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization authorizes 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.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were paid a dividend of $0.25 per share. This is a positive change from Apple’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, May 10th. This represents a $1.00 annualized dividend and a yield of 0.47%. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on AAPL shares. JPMorgan Chase & Co. upped their price target on shares of Apple from $225.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, June 18th. UBS Group restated a “neutral” rating and issued a $190.00 target price on shares of Apple in a research note on Tuesday, June 11th. Rosenblatt Securities raised shares of Apple from a “neutral” rating to a “buy” rating and lifted their price target for the company from $196.00 to $260.00 in a research note on Wednesday. Erste Group Bank upgraded shares of Apple from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Finally, Wedbush increased their price target on shares of Apple from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Friday, May 24th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus target price of $214.29.

Apple 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.