Ballew Advisors Inc Boosts Stake in Apple Inc. (NASDAQ:AAPL)

Ballew Advisors Inc raised its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 21.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,247 shares of the iPhone maker’s stock after purchasing an additional 1,281 shares during the quarter. Apple accounts for 0.9% of Ballew Advisors Inc’s holdings, making the stock its 23rd largest holding. Ballew Advisors Inc’s holdings in Apple were worth $1,235,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AAPL. State Street Corp grew its stake in shares of Apple by 1.8% in the fourth quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock valued at $112,422,274,000 after buying an additional 10,951,705 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Apple by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker’s stock valued at $46,812,958,000 after buying an additional 4,456,954 shares in the last quarter. Norges Bank acquired a new stake in shares of Apple in the fourth quarter valued at $25,228,507,000. Charles Schwab Investment Management Inc. grew its stake in shares of Apple by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 79,583,859 shares of the iPhone maker’s stock valued at $14,131,710,000 after buying an additional 1,273,148 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of Apple by 5.1% in the fourth quarter. Fisher Asset Management LLC now owns 63,982,104 shares of the iPhone maker’s stock valued at $11,361,302,000 after buying an additional 3,096,696 shares in the last quarter. Hedge funds and other institutional investors own 57.98% of the company’s stock.

Apple Stock Performance

AAPL opened at $165.35 on Friday. The stock has a market cap of $2.66 trillion, a P/E ratio of 27.29, a P/E/G ratio of 2.15 and a beta of 1.23. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. The stock’s 50 day simple moving average is $146.34 and its 200 day simple moving average is $157.12. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last announced its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. During the same quarter in the prior year, the firm earned $1.30 EPS. Apple’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, equities analysts anticipate that Apple Inc. will post 6.1 EPS for the current fiscal year.

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

Apple Dividend Announcement

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

Insider Activity at Apple

In other news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction dated 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 directly owns 427,334 shares in the company, valued at $70,411,823.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company dropped their price objective on Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, July 20th. set a $175.00 target price on Apple in a research note on Friday, July 29th. Sanford C. Bernstein set a $170.00 target price on Apple in a research note on Monday, May 2nd. Evercore ISI boosted their target price on Apple from $180.00 to $185.00 in a research note on Friday, July 29th. Finally, Loop Capital lowered their target price on Apple from $210.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, May 25th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $179.27.

Apple Profile

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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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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