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Kessler Investment Group LLC increased its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 5.0% in the first quarter, HoldingsChannel reports. The fund owned 54,151 shares of the iPhone maker’s stock after purchasing an additional 2,557 shares during the period. Apple makes up about 5.9% of Kessler Investment Group LLC’s portfolio, making the stock its biggest position. Kessler Investment Group LLC’s holdings in Apple were worth $12,029,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Advanced Portfolio Management LLC raised its stake in shares of Apple by 0.3% during the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock valued at $3,260,000 after acquiring an additional 47 shares in the last quarter. Family Capital Management Inc. raised its stake in shares of Apple by 0.3% during the fourth quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker’s stock valued at $4,235,000 after acquiring an additional 48 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in shares of Apple by 0.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker’s stock valued at $4,178,000 after acquiring an additional 48 shares in the last quarter. Scarborough Advisors LLC raised its stake in shares of Apple by 0.3% during the fourth quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker’s stock valued at $3,992,000 after acquiring an additional 51 shares in the last quarter. Finally, Disciplined Investments LLC raised its stake in shares of Apple by 0.7% during the fourth quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker’s stock valued at $1,794,000 after acquiring an additional 51 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on AAPL shares. Jefferies Financial Group raised shares of Apple from an “underperform” rating to a “hold” rating in a research note on Friday, July 18th. DA Davidson reissued a “buy” rating and issued a $250.00 price objective on shares of Apple in a research note on Friday, August 1st. Wedbush reissued an “outperform” rating and issued a $270.00 price objective on shares of Apple in a research note on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Apple in a research note on Friday, July 25th. Finally, TD Cowen reduced their price objective on shares of Apple from $290.00 to $275.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $237.60.
Read Our Latest Stock Report on Apple
Apple Stock Up 4.2%
AAPL stock opened at $229.35 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The company has a market cap of $3.40 trillion, a P/E ratio of 34.80, a P/E/G ratio of 2.40 and a beta of 1.16. The company’s 50-day moving average price is $206.84 and its 200 day moving average price is $213.07. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10.
Apple (NASDAQ:AAPL – Get Free Report) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.14. The business had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.40 earnings per share. On average, research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Monday, August 11th will be given a dividend of $0.26 per share. The ex-dividend date is Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.5%. Apple’s dividend payout ratio (DPR) is 15.78%.
Apple declared that its Board of Directors has authorized a stock repurchase plan on Thursday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.
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.
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