Matisse Capital increased its stake in Apple Inc. (NASDAQ: AAPL – Get a rating) by 4.1% during the first quarter, according to the company in its latest filing with the Securities & Exchange Commission. The company held 34,801 shares of the iPhone maker after buying an additional 1,355 shares during the quarter. Apple accounts for around 5.6% of Matisse Capital’s holdings, making the stock its second largest holding. Matisse Capital’s holdings in Apple were worth $6,077,000 when it last filed with the SEC.
Several other hedge funds have also recently bought and sold shares of AAPL. Daniels&Tansey LLP increased its position in Apple shares by 1.6% in the fourth quarter. Daniels & Tansey LLP now owns 3,858 shares of the iPhone maker worth $685,000 after buying 60 more shares in the last quarter. Hanlon Investment Management Inc. increased its stake in Apple by 0.7% in the fourth quarter. Hanlon Investment Management Inc. now owns 10,124 shares of the iPhone maker valued at $1,798,000 after acquiring 66 additional shares in the last quarter. Financial Planning & Information Services Inc. increased its stake in Apple by 1.0% in the fourth quarter. Financial Planning & Information Services Inc. now owns 6,837 shares of the iPhone maker valued at $1,214,000 after acquiring 67 additional shares in the last quarter. Salzhauer Michael increased his stake in Apple by 2.0% in the fourth quarter. Salzhauer Michael now owns 3,397 shares of the iPhone maker valued at $603,000 after acquiring 67 more shares in the last quarter. Finally, MorganRosel Wealth Management LLC increased its stake in Apple by 1.1% in the fourth quarter. MorganRosel Wealth Management LLC now owns 6,394 shares of the iPhone maker valued at $1,135,000 after acquiring 70 additional shares in the last quarter. 57.98% of the shares are currently held by institutional investors.
A number of research analysts have recently commented on AAPL shares. Goldman Sachs Group set a target price of $157.00 on Apple in a Friday, June 3 research note. Fundamental Research cut its target price on Apple from $179.32 to $175.24 and set a “medium” rating on the stock in a Friday, May 6 research note. Piper Sandler reduced her target price on Apple from $200.00 to $195.00 in a Friday, April 29 research note. Morgan Stanley cut its target price on Apple from $195.00 to $185.00 and set an “overweight” rating on the stock in a Tuesday, June 14 research note. To finish, StockNews.com launched coverage on Apple in a research note on Thursday, March 31. They have placed a “holding” rating on the stock. Nine research analysts rated the stock with a hold rating, twenty-four gave the company a buy rating and one gave the company a strong buy rating. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $185.64.
Action AAPL opened at $137.44 on Wednesday. The company has a 50-day moving average price of $147.02 and a 200-day moving average price of $161.74. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94. The company has a market capitalization of $2.22 trillion, a price/earnings ratio of 22.31, a PEG ratio of 1.86 and a beta of 1.20. The company has a debt ratio of 1.53, a quick ratio of 0.88 and a current ratio of 0.93.
Apple (NASDAQ: AAPL – Get a rating) last released its results on Thursday, April 28. The iPhone maker reported earnings per share (EPS) of $1.52 for the quarter, beating the consensus estimate of $1.43 by $0.09. Apple had a net margin of 26.41% and a return on equity of 152.88%. The company posted revenue of $97.28 billion in the quarter, versus analyst estimates of $93.99 billion. During the same period last year, the company made earnings per share of $1.40. The company’s revenue increased 8.6% year over year. As a group, sell-side analysts expect Apple Inc. to post earnings per share of 6.11 for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, May 12. Investors of record on Monday, May 9 received a dividend of $0.23 per share. The ex-dividend date was Friday, May 6. This represents an annualized dividend of $0.92 and a dividend yield of 0.67%. This is an increase from Apple’s previous quarterly dividend of $0.22. Apple’s dividend payout ratio (DPR) is 14.94%.
Apple announced that its board of directors 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. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.
In related news, please Katherine L. Adams sold 25,000 shares of the company in a transaction that took place on Wednesday, May 4. The shares were sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the completion of the sale, the senior vice president now owns 452,334 shares of the company, valued at $73,151,454.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this hyperlink. Additionally, SVP Deirdre O’brien sold 29,198 shares of the company in a trade that took place on Monday, April 4. The shares were sold at an average price of $177.77, for a total transaction of $5,190,528.46. As a result of the sale, the senior vice president now directly owns 136,290 shares of the company, valued at approximately $24,228,273.30. Disclosure of this sale can be found here. Insiders have sold 168,099 shares of the company valued at $29,376,711 over the past three months. 0.06% of the shares are held by insiders.
Apple Profile (Get a rating)
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.
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