Cypress Capital Group decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,902 shares of the iPhone maker’s stock after selling 945 shares during the period. Apple comprises approximately 2.4% of Cypress Capital Group’s holdings, making the stock its 6th biggest holding. Cypress Capital Group’s holdings in Apple were worth $11,225,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in AAPL. Quattro Financial Advisors LLC bought a new stake in shares of Apple in the 1st quarter worth about $133,000. Smart Portfolios LLC bought a new stake in shares of Apple in the 1st quarter worth about $134,000. Spectrum Financial Alliance Ltd LLC bought a new stake in shares of Apple in the 1st quarter worth about $138,000. Macroview Investment Management LLC increased its position in shares of Apple by 220.3% in the 1st quarter. Macroview Investment Management LLC now owns 900 shares of the iPhone maker’s stock worth $151,000 after purchasing an additional 619 shares during the last quarter. Finally, Litman Gregory Asset Management LLC increased its position in shares of Apple by 553.8% in the 1st quarter. Litman Gregory Asset Management LLC now owns 1,033 shares of the iPhone maker’s stock worth $173,000 after purchasing an additional 875 shares during the last quarter. 58.62% of the stock is currently owned by hedge funds and other institutional investors.
Apple stock opened at $226.41 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.31 and a debt-to-equity ratio of 0.84. The stock has a market cap of $1,100.25 billion, a price-to-earnings ratio of 24.58, a PEG ratio of 1.97 and a beta of 1.33. Apple Inc. has a 52-week low of $149.16 and a 52-week high of $229.67.
Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.16. The firm had revenue of $53.27 billion during the quarter, compared to analyst estimates of $52.43 billion. Apple had a net margin of 21.98% and a return on equity of 43.50%. Apple’s revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.67 EPS. equities analysts forecast that Apple Inc. will post 11.74 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 16th. Shareholders of record on Monday, August 13th were paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Friday, August 10th. Apple’s payout ratio is 31.70%.
Several research firms have recently weighed in on AAPL. Loop Capital boosted their target price on shares of Apple from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, July 6th. BidaskClub downgraded shares of Apple from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Royal Bank of Canada reissued a “buy” rating and issued a $240.00 target price on shares of Apple in a research report on Tuesday. Wells Fargo & Co set a $210.00 target price on shares of Apple and gave the stock a “neutral” rating in a research report on Wednesday, September 5th. Finally, Needham & Company LLC boosted their target price on shares of Apple from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty-nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $214.40.
In other Apple news, CEO Timothy D. Cook sold 265,160 shares of the business’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $217.79, for a total transaction of $57,749,196.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Johny Srouji sold 14,140 shares of the business’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $214.98, for a total transaction of $3,039,817.20. Following the transaction, the insider now directly owns 68,302 shares of the company’s stock, valued at $14,683,563.96. The disclosure for this sale can be found here. Insiders have sold a total of 378,400 shares of company stock valued at $81,052,754 over the last three months. 0.08% of the stock is currently owned by company insiders.
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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