Hengehold Capital Management LLC holds a $3.77 million stake in Apple Inc. (NASDAQ:AAPL)

By Larry R. Howell Last updated Jul 31, 2022

Hengehold Capital Management LLC increased its stake in the shares of Apple Inc. (NASDAQ: AAPL – Get a rating) by 1.3% during the 1st quarter, according to its last 13F filing with the Securities and Exchange Commission. The company held 21,569 shares of the iPhone maker after buying 273 additional shares during the quarter. Hengehold Capital Management LLC’s holdings in Apple were worth $3,766,000 when it last filed with the SEC.

Other hedge funds and other institutional investors have also been buying and selling shares of the company recently. Cardinal Capital Management Inc. increased its stake in Apple by 5,525.0% during the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker worth $39,000 after buying 221 additional shares during the period. Shore Point Advisors LLC bought a new position in Apple stock in Q4 for about $41,000. St. James Investment Advisors LLC bought a new position in Apple stock in Q4 for about $57,000. Econ Financial Services Corp bought a new position in Apple stock in Q4 for a value of around $58,000. Finally, Emerson Wealth LLC increased its position in Apple shares by 363.6% in the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker worth $71,000 after acquiring 320 more shares in the last quarter. 57.98% of the shares are held by institutional investors and hedge funds.

Apple trade up 3.3%

NASDAQ: AAPL opened at $162.51 on Friday. The company has a market capitalization of $2.63 trillion, a P/E ratio of 26.38, a P/E/G ratio of 1.97 and a beta of 1.19. The stock’s fifty-day moving average price is $144.31 and its two-hundred-day moving average price is $157.31. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The company has a debt ratio of 1.53, a current ratio of 0.93 and a quick ratio of 0.88.

Apple (NASDAQ: AAPL – Get a rating) last released its 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 a consensus estimate of $82.97 billion. Apple had a return on equity of 152.88% and a net margin of 26.41%. The company’s quarterly revenue increased 1.9% year over year. In the same quarter a year earlier, the company posted earnings per share of $1.30. As a group, analysts expect Apple Inc. to post EPS of 6.09 for the current year.

Apple said its board approved a stock repurchase program on Thursday, April 28 that allows the company to repurchase $90.00 billion in stock. This repurchase authorization allows the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Share repurchase programs usually indicate that the company’s board of directors believe its shares are undervalued.

Apple announces dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 11. Investors of record on Monday August 8 will receive a dividend of $0.23 per share. This represents an annualized dividend of $0.92 and a yield of 0.57%. The ex-dividend date is Friday, August 5. Apple’s dividend payout ratio is 14.94%.

Insider buying and selling

In other Apple news, please Katherine L. Adams sold 25,000 shares of the company in a trade dated Wednesday, May 4. The stock was sold at an average price of $161.72, for a total value of $4,043,000.00. Following the sale, the senior vice president now owns 452,334 shares of the company, valued at approximately $73,151,454.48. The transaction was disclosed in a legal filing with the SEC, accessible via this hyperlink. 0.06% of the shares are held by insiders of the company.

Analysts set new price targets

AAPL has been the subject of several research analyst reports. Wells Fargo & Company lowered its price target on Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a Wednesday, July 20 research report. UBS Group set a target price of $185.00 on Apple in a Thursday, July 21 research report. Goldman Sachs Group set a target price of $139.00 on Apple in a research report on Friday. Raymond James lowered his target price on Apple from $190.00 to $185.00 and set a “hold” rating for the company in a research report on Friday. Finally, Itaú Unibanco launched coverage on Apple in a research report on Tuesday, July 26. They issued an “underperforming” rating and a target price of $136.00 for the company. Two research analysts rated the stock with a sell rating, eight gave the stock a hold rating, twenty-one gave the stock a buy rating, and one gave the stock a strong buy rating. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $179.04.

About Apple

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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.