Gemmer Asset Management LLC raised its position in Apple Inc. (NASDAQ:AAPL) by 2.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 125,583 shares of the iPhone maker’s stock after acquiring an additional 2,463 shares during the period. Apple makes up 2.4% of Gemmer Asset Management LLC’s investment portfolio, making the stock its 14th largest holding. Gemmer Asset Management LLC’s holdings in Apple were worth $15,340,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. Hurlow Wealth Management Group Inc. raised its stake in shares of Apple by 5.2% during the 1st quarter. Hurlow Wealth Management Group Inc. now owns 19,095 shares of the iPhone maker’s stock worth $2,332,000 after buying an additional 941 shares in the last quarter. Capital Advisors Wealth Management LLC acquired a new position in Apple during the first quarter worth $4,211,000. Andesa Financial Management Inc. raised its position in Apple by 83.7% in the first quarter. Andesa Financial Management Inc. now owns 126,517 shares of the iPhone maker’s stock worth $15,454,000 after acquiring an additional 57,647 shares in the last quarter. Successful Portfolios LLC lifted its holdings in Apple by 0.7% in the first quarter. Successful Portfolios LLC now owns 31,429 shares of the iPhone maker’s stock valued at $3,839,000 after acquiring an additional 222 shares during the period. Finally, Personal Wealth Partners grew its stake in shares of Apple by 2.3% during the 1st quarter. Personal Wealth Partners now owns 4,544 shares of the iPhone maker’s stock worth $555,000 after purchasing an additional 103 shares during the period. 57.77% of the stock is currently owned by institutional investors and hedge funds.
AAPL has been the topic of several recent analyst reports. Royal Bank of Canada restated a “buy” rating and set a $171.00 target price (up from $154.00) on shares of Apple in a research report on Monday, February 8th. Evercore ISI upped their price target on Apple from $163.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, March 22nd. UBS Group lifted their price objective on Apple from $142.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, April 29th. JPMorgan Chase & Co. upped their target price on Apple from $150.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, April 29th. Finally, Wells Fargo & Company lifted their price target on Apple from $155.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, January 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $146.82.
Apple (NASDAQ:AAPL) last released its quarterly earnings data on Tuesday, April 27th. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.41. Apple had a net margin of 20.91% and a return on equity of 75.15%. The company had revenue of $89.58 billion during the quarter, compared to the consensus estimate of $76.84 billion. During the same period in the previous year, the firm earned $0.64 earnings per share. Apple’s revenue for the quarter was up 53.6% on a year-over-year basis. Equities analysts forecast that Apple Inc. will post 4.03 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 13th. Investors of record on Monday, May 10th will be issued a $0.22 dividend. This is an increase from Apple’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Friday, May 7th. Apple’s dividend payout ratio is currently 25.00%.
In related news, COO Jeffrey E. Williams sold 133,867 shares of the business’s stock in a transaction that occurred on Monday, April 5th. The stock was sold at an average price of $125.74, for a total transaction of $16,832,436.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Deirdre O’brien sold 18,216 shares of the company’s stock in a transaction that occurred on Friday, April 16th. The stock was sold at an average price of $134.01, for a total value of $2,441,126.16. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. 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, HomePod, iPod touch, and other Apple-branded and third-party accessories.
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