Private Ocean LLC lifted its stake in Apple Inc. (NASDAQ:AAPL) by 0.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 171,758 shares of the iPhone maker’s stock after purchasing an additional 1,235 shares during the period. Apple makes up 3.7% of Private Ocean LLC’s investment portfolio, making the stock its 8th largest holding. Private Ocean LLC’s holdings in Apple were worth $20,980,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Clear Perspectives Financial Planning LLC purchased a new position in shares of Apple in the fourth quarter valued at $27,000. EMC Capital Management purchased a new stake in shares of Apple in the fourth quarter valued at about $80,000. MD Financial Management Inc. purchased a new position in shares of Apple during the 4th quarter worth approximately $93,000. Insight Financial Services acquired a new position in shares of Apple during the 4th quarter worth approximately $95,000. Finally, Lloyd Advisory Services LLC. grew its holdings in Apple by 20.1% during the 4th quarter. Lloyd Advisory Services LLC. now owns 760 shares of the iPhone maker’s stock valued at $101,000 after buying an additional 127 shares during the last quarter. Institutional investors own 57.77% of the company’s stock.
A number of analysts recently commented on AAPL shares. Monness Crespi & Hardt lifted their price objective on Apple from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, April 29th. Needham & Company LLC restated a “buy” rating and set a $170.00 target price on shares of Apple in a research report on Wednesday, April 21st. Barclays increased their price target on Apple from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 29th. Piper Sandler lifted their price objective on Apple from $135.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, January 28th. Finally, Loop Capital increased their target price on Apple from $131.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, January 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $146.82.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, April 27th. The iPhone maker reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.41. Apple had a return on equity of 75.15% and a net margin of 20.91%. The firm had revenue of $89.58 billion during the quarter, compared to the consensus estimate of $76.84 billion. During the same quarter in the prior year, the business posted $0.64 earnings per share. Apple’s revenue for the quarter was up 53.6% on a year-over-year basis. As a group, equities analysts expect that Apple Inc. will post 4.03 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 13th. Stockholders of record on Monday, May 10th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, May 7th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.66%. This is an increase from Apple’s previous quarterly dividend of $0.21. Apple’s dividend payout ratio (DPR) is presently 25.00%.
In other Apple news, COO Jeffrey E. Williams sold 133,867 shares of the 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 filing with the SEC, which is available at this link. Also, SVP Deirdre O’brien sold 18,216 shares of Apple 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. 0.06% of the stock is currently owned by insiders.
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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