Venture Visionary Partners LLC reduced its stake in shares of Apple Inc. (NASDAQ: AAPL – Get a rating) by 1.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor held 375,578 shares of the iPhone maker after selling 4,105 shares during the period. Apple has 4.4% of Venture Visionary Partners LLC’s portfolio, making it its largest holding. Venture Visionary Partners LLC’s holdings in Apple were worth $65,579,000 when it last filed with the Securities and Exchange Commission.
A number of other institutional investors have also recently increased or reduced their stake in the stock. Joseph Group Capital Management acquired a new position in Apple during the fourth quarter worth approximately $1,631,000. Cardinal Capital Management Inc. increased its position in Apple by 5,525.0% during the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker worth $39,000 after acquiring 221 additional shares in the last quarter. Shore Point Advisors LLC acquired a new position in Apple during the fourth quarter worth approximately $41,000. St. James Investment Advisors LLC acquired a new position in Apple during the fourth quarter worth approximately $57,000. Finally, Emerson Wealth LLC increased its position in Apple by 363.6% during the first quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker worth $71,000 after acquiring 320 more shares in the last quarter. Hedge funds and other institutional investors own 57.62% of the company’s shares.
A Wall Street analyst gives his opinion
A number of stock analysts have weighed in on the stock recently. Morgan Stanley cut its price target on Apple shares from $185.00 to $180.00 and set an “overweight” rating for the company in a Wednesday, July 20 research report. Wells Fargo & Company cut its price target on Apple shares from $205.00 to $185.00 and set an “overweight” rating for the company in a Wednesday, July 20 research report. JPMorgan Chase & Co. set a price target of $200.00 on Apple shares in a Monday, July 25 research report. Evercore ISI raised its price target on Apple shares from $180.00 to $185.00 in a Friday, July 29 research report. Finally, Fundamental Research set a price target of $177.07 on Apple stock and gave the company a “buy” rating in a Thursday, Aug. 4, research report. Two financial analysts gave the stock a sell rating, seven gave the stock a hold rating, twenty-four gave the stock a buy rating and one gave the stock a high buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $181.18.
Insider activity at Apple
In related news, CFO Luca Maestri sold 96,735 shares of the company in a trade on Wednesday, August 17. The shares were sold at an average price of $174.95, for a total value of $16,923,788.25. Following the sale, the CFO now directly owns 110,673 shares of the company, valued at $19,362,241.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, available at this hyperlink. In other Apple news, CFO Luca Maestri sold 96,735 shares in a trade on Wednesday, August 17. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the sale, the CFO now directly owns 110,673 shares of the company, valued at $19,362,241.35. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC website. Also, please Katherine L. Adams sold 25,000 shares in a trade on Wednesday August 3. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the sale, the senior vice president now directly owns 427,334 shares of the company, valued at $70,411,823.18. Disclosure of this sale can be found here. 0.06% of the shares are currently held by insiders.
Apple price performance
Shares of Action AAPL opened at $171.52 on Friday. The company has a market capitalization of $2.76 trillion, a PE ratio of 28.30, a price-to-earnings growth ratio of 2.26, and a beta of 1.23. The company has a fifty-day simple moving average of $151.13 and a 200-day simple moving average of $157.49. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt ratio of 1.63. Apple Inc. has a 12-month low of $129.04 and a 12-month high of $182.94.
Apple (NASDAQ: AAPL – Get a rating) last released its quarterly results on Thursday, July 28. The iPhone maker reported earnings per share (EPS) of $1.20 for the quarter, beating the consensus estimate of $1.14 by $0.06. The company posted revenue of $82.96 billion for the quarter, versus $82.97 billion for analysts. Apple had a net margin of 25.71% and a return on equity of 152.97%. The company’s quarterly revenue increased 1.9% year over year. In the same period a year earlier, the company posted earnings per share of $1.30. Equity research analysts expect Apple Inc. to post earnings per share of 6.1 for the current fiscal year.
Apple dividend announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, August 11. Investors of record on Monday August 8 received a dividend of $0.23. The ex-dividend date was Friday August 5th. This represents an annualized dividend of $0.92 and a yield of 0.54%. Apple’s dividend payout ratio is currently 15.18%.
Apple announced that its board of directors authorized a stock repurchase program on Thursday, April 28 that allows the company to repurchase $90.00 billion in outstanding stock. This repurchase authorization allows the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.
Apple Inc designs, manufactures and markets smartphones, personal computers, tablets, wearables and accessories worldwide. It also sells various related services. Additionally, the company offers iPhone, a range of smartphones; Mac, a line of personal computers; iPad, a range of versatile tablets; AirPods Max, an over-ear wireless headset; and wearables, home and accessories including AirPods, Apple TV, Apple Watch, Beats products, HomePod and iPod touch.
Get news and reviews for Apple Daily – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for Apple and related companies with MarketBeat.com’s free daily email newsletter.