BigSur Wealth Management LLC boosted its stake in Apple Inc. (NASDAQ:AAPL) by 17.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,415 shares of the iPhone maker’s stock after acquiring an additional 2,150 shares during the period. Apple accounts for about 1.7% of BigSur Wealth Management LLC’s holdings, making the stock its 11th biggest position. BigSur Wealth Management LLC’s holdings in Apple were worth $2,419,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently modified their holdings of the stock. Reilly Financial Advisors LLC boosted its stake in shares of Apple by 4.1% during the 1st quarter. Reilly Financial Advisors LLC now owns 100,333 shares of the iPhone maker’s stock worth $16,834,000 after acquiring an additional 3,918 shares in the last quarter. Viridian Ria LLC purchased a new stake in shares of Apple during the 1st quarter worth approximately $525,000. Moisand Fitzgerald Tamayo LLC boosted its stake in shares of Apple by 30.3% during the 1st quarter. Moisand Fitzgerald Tamayo LLC now owns 3,700 shares of the iPhone maker’s stock worth $621,000 after acquiring an additional 860 shares in the last quarter. Greenleaf Trust boosted its stake in shares of Apple by 0.3% during the 1st quarter. Greenleaf Trust now owns 128,927 shares of the iPhone maker’s stock worth $21,631,000 after acquiring an additional 445 shares in the last quarter. Finally, K.J. Harrison & Partners Inc boosted its stake in shares of Apple by 9.7% during the 1st quarter. K.J. Harrison & Partners Inc now owns 67,972 shares of the iPhone maker’s stock worth $11,404,000 after acquiring an additional 6,000 shares in the last quarter. Hedge funds and other institutional investors own 58.07% of the company’s stock.
Apple opened at $187.97 on Friday, MarketBeat reports. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.46 and a quick ratio of 1.37. The stock has a market capitalization of $931.79 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 1.51 and a beta of 1.24. Apple Inc. has a 1-year low of $142.90 and a 1-year high of $194.20.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, May 1st. The iPhone maker reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $2.69 by $0.04. The company had revenue of $61.14 billion during the quarter, compared to analysts’ expectations of $60.94 billion. Apple had a net margin of 21.55% and a return on equity of 39.97%. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.10 EPS. sell-side analysts expect that Apple Inc. will post 11.42 earnings per share for the current fiscal year.
Apple declared that its Board of Directors has approved a stock repurchase program on Tuesday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to reacquire up to 11.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
In other Apple news, insider Angela J. Ahrendts sold 38,228 shares of the company’s stock in a transaction dated Friday, May 4th. The shares were sold at an average price of $176.54, for a total value of $6,748,771.12. Following the completion of the transaction, the insider now directly owns 90,967 shares of the company’s stock, valued at approximately $16,059,314.18. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Daniel J. Riccio sold 17,372 shares of the company’s stock in a transaction dated Thursday, May 17th. The shares were sold at an average price of $187.64, for a total transaction of $3,259,682.08. Following the completion of the transaction, the senior vice president now directly owns 43,644 shares of the company’s stock, valued at $8,189,360.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 192,208 shares of company stock valued at $35,104,302. 0.08% of the stock is currently owned by corporate insiders.
Several equities research analysts have recently commented on the company. Loop Capital boosted their price target on Apple from $195.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday. Barclays boosted their price target on Apple from $161.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 26th. Sanford C. Bernstein reissued a “neutral” rating and set a $190.00 price target on shares of Apple in a research note on Monday, June 25th. BidaskClub raised Apple from a “hold” rating to a “buy” rating in a research note on Monday, June 18th. Finally, UBS Group set a $210.00 target price on Apple and gave the company a “buy” rating in a research note on Wednesday, June 13th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, thirty-one have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $207.53.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
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