Apple Inc. (NASDAQ:AAPL) Holdings Increased by Alphastar Capital Management LLC

Alphastar Capital Management LLC grew its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 3.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 139,056 shares of the iPhone maker’s stock after purchasing an additional 4,775 shares during the period. Apple makes up about 2.0% of Alphastar Capital Management LLC’s investment portfolio, making the stock its 9th largest position. Alphastar Capital Management LLC’s holdings in Apple were worth $24,281,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. ShankerValleau Wealth Advisors Inc. bought a new stake in shares of Apple in the fourth quarter worth $322,000. Private Advisory Group LLC increased its stake in Apple by 6.6% during the fourth quarter. Private Advisory Group LLC now owns 188,407 shares of the iPhone maker’s stock valued at $33,455,000 after purchasing an additional 11,594 shares during the last quarter. Bernardo Wealth Planning LLC increased its stake in Apple by 11.2% during the fourth quarter. Bernardo Wealth Planning LLC now owns 38,061 shares of the iPhone maker’s stock valued at $6,758,000 after purchasing an additional 3,848 shares during the last quarter. State of Michigan Retirement System increased its stake in Apple by 1.0% during the fourth quarter. State of Michigan Retirement System now owns 4,797,394 shares of the iPhone maker’s stock valued at $851,873,000 after purchasing an additional 45,240 shares during the last quarter. Finally, Bordeaux Wealth Advisors LLC increased its stake in Apple by 20.4% during the fourth quarter. Bordeaux Wealth Advisors LLC now owns 133,332 shares of the iPhone maker’s stock valued at $23,676,000 after purchasing an additional 22,572 shares during the last quarter. Hedge funds and other institutional investors own 57.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Bank of America lowered their target price on shares of Apple from $200.00 to $185.00 in a research note on Tuesday, July 26th. Evercore ISI boosted their price target on shares of Apple from $180.00 to $185.00 in a report on Friday, July 29th. Oppenheimer reissued an “outperform” rating and set a $190.00 price target on shares of Apple in a report on Wednesday, June 8th. Deutsche Bank Aktiengesellschaft set a $175.00 price target on shares of Apple in a report on Monday, August 1st. Finally, KeyCorp boosted their price target on shares of Apple from $173.00 to $177.00 and gave the company an “overweight” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $179.27.

Apple Trading Down 0.1 %

Shares of NASDAQ AAPL opened at $165.35 on Friday. The stock has a market cap of $2.66 trillion, a price-to-earnings ratio of 27.29, a PEG ratio of 2.15 and a beta of 1.23. The business has a 50 day simple moving average of $146.34 and a 200 day simple moving average of $157.12. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.14 by $0.06. The business had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.30 EPS. On average, research analysts predict that Apple Inc. will post 6.1 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Monday, August 8th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 0.56%. Apple’s payout ratio is 15.18%.

Apple announced that its Board of Directors has initiated a share repurchase program on Thursday, April 28th that authorizes the company to buyback $90.00 billion in shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Apple

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction that occurred on 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 sale, the senior vice president now owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is currently owned by company insiders.

About Apple

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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