Apple Inc. (NASDAQ:AAPL) Position Boosted by Objective Capital Management LLC

Objective Capital Management LLC raised its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 4.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,092 shares of the iPhone maker’s stock after buying an additional 1,619 shares during the period. Apple comprises approximately 4.5% of Objective Capital Management LLC’s portfolio, making the stock its 3rd largest position. Objective Capital Management LLC’s holdings in Apple were worth $6,704,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Christopher J. Hasenberg Inc bought a new stake in Apple during the 1st quarter valued at $35,000. A.P. Gilfoyle & Co. L.P. purchased a new position in shares of Apple in the fourth quarter valued at about $39,000. Gilfoyle & Co LLC raised its stake in shares of Apple by 168.0% during the fourth quarter. Gilfoyle & Co LLC now owns 268 shares of the iPhone maker’s stock valued at $52,000 after acquiring an additional 168 shares during the last quarter. University of Texas Texas AM Investment Managment Co. boosted its holdings in shares of Apple by 657.1% during the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after purchasing an additional 368 shares during the period. Finally, Clarity Asset Management Inc. bought a new stake in shares of Apple in the fourth quarter worth about $85,000. 60.41% of the stock is owned by institutional investors.

Apple Trading Up 1.0 %

Apple stock opened at $226.84 on Friday. Apple Inc. has a one year low of $164.07 and a one year high of $237.23. The business’s fifty day moving average is $220.32 and its 200 day moving average is $194.40. The stock has a market capitalization of $3.48 trillion, a PE ratio of 35.28, a price-to-earnings-growth ratio of 2.60 and a beta of 1.24. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 145.35%. The firm had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same quarter last year, the firm posted $1.26 EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, sell-side analysts predict that Apple Inc. will post 6.61 EPS for the current year.

Apple announced that its Board of Directors has approved a share repurchase program on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. Apple’s dividend payout ratio is presently 15.55%.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the sale, the insider now owns 15,419 shares in the company, valued at $3,469,275. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,469,275. The disclosure for this sale can be found here. Insiders have sold a total of 188,884 shares of company stock worth $38,092,387 in the last ninety days. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

AAPL has been the subject of several research analyst reports. Morgan Stanley reiterated an “overweight” rating and issued a $273.00 price objective on shares of Apple in a report on Tuesday, August 6th. Sanford C. Bernstein lifted their price target on shares of Apple from $195.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, June 21st. Canaccord Genuity Group upped their price objective on shares of Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Erste Group Bank raised shares of Apple from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Finally, Oppenheimer increased their price target on shares of Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $233.63.

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.