Apple Inc. (NASDAQ:AAPL) Shares Acquired by Aspire Private Capital LLC

Aspire Private Capital LLC increased its position in Apple Inc. (NASDAQ:AAPL) by 16.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,024 shares of the iPhone maker’s stock after purchasing an additional 4,311 shares during the period. Apple accounts for about 1.7% of Aspire Private Capital LLC’s investment portfolio, making the stock its 13th biggest holding. Aspire Private Capital LLC’s holdings in Apple were worth $6,669,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Life Planning Partners Inc bought a new position in Apple in the fourth quarter worth about $47,000. Conquis Financial LLC bought a new stake in shares of Apple during the fourth quarter valued at approximately $63,000. LSV Asset Management bought a new stake in shares of Apple during the fourth quarter valued at approximately $65,000. Pillar Financial Advisors LLC bought a new stake in shares of Apple during the fourth quarter valued at approximately $82,000. Finally, Compass Planning Associates Inc bought a new stake in shares of Apple during the fourth quarter valued at approximately $96,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Jefferies Financial Group upgraded shares of Apple from an “underperform” rating to a “hold” rating in a research note on Friday, July 18th. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a research note on Friday, July 25th. Scotiabank lowered shares of Apple to a “market perform” rating in a research note on Friday, May 2nd. Tigress Financial raised their price objective on shares of Apple from $295.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Thursday, April 3rd. Finally, Bank of America reiterated a “buy” rating and set a $235.00 price objective on shares of Apple in a research note on Tuesday, June 10th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $234.94.

Apple Price Performance

Shares of AAPL stock opened at $211.27 on Wednesday. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The firm’s 50 day moving average is $204.96 and its 200-day moving average is $214.20. The firm has a market capitalization of $3.16 trillion, a price-to-earnings ratio of 32.91, a PEG ratio of 2.39 and a beta of 1.20. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 167.24%. The company had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. During the same period in the prior year, the business earned $1.53 earnings per share. Apple’s quarterly revenue was up 5.1% on a year-over-year basis. Sell-side analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a $0.26 dividend. This is a positive change from Apple’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Monday, May 12th. Apple’s dividend payout ratio is currently 16.20%.

Apple announced that its Board of Directors has approved a share repurchase plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, insider Chris Kondo sold 4,486 shares of the firm’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the transaction, the insider owned 15,533 shares of the company’s stock, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.06% of the company’s stock.

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.