New Jersey Better Educational Savings Trust reduced its position in Apple Inc. (NASDAQ:AAPL) by 21.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,850 shares of the iPhone maker’s stock after selling 3,150 shares during the quarter. Apple comprises about 5.9% of New Jersey Better Educational Savings Trust’s investment portfolio, making the stock its 2nd biggest position. New Jersey Better Educational Savings Trust’s holdings in Apple were worth $3,480,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Orgel Wealth Management LLC grew its holdings in shares of Apple by 2.6% in the 3rd quarter. Orgel Wealth Management LLC now owns 2,588 shares of the iPhone maker’s stock worth $580,000 after acquiring an additional 66 shares during the period. Toth Financial Advisory Corp grew its holdings in shares of Apple by 13.0% in the 3rd quarter. Toth Financial Advisory Corp now owns 24,083 shares of the iPhone maker’s stock worth $5,394,000 after acquiring an additional 2,768 shares during the period. Verus Financial Partners Inc. grew its holdings in shares of Apple by 2.6% in the 3rd quarter. Verus Financial Partners Inc. now owns 5,815 shares of the iPhone maker’s stock worth $1,302,000 after acquiring an additional 145 shares during the period. Sterling Investment Advisors Ltd. lifted its stake in Apple by 1.0% in the 3rd quarter. Sterling Investment Advisors Ltd. now owns 53,291 shares of the iPhone maker’s stock valued at $11,936,000 after buying an additional 507 shares in the last quarter. Finally, SeaCrest Wealth Management LLC lifted its stake in Apple by 1.7% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 118,709 shares of the iPhone maker’s stock valued at $26,587,000 after buying an additional 1,992 shares in the last quarter. 60.28% of the stock is currently owned by institutional investors and hedge funds.
Shares of AAPL stock opened at $324.87 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.56 and a current ratio of 1.60. Apple Inc. has a one year low of $169.38 and a one year high of $327.85. The company’s 50-day simple moving average is $310.05 and its 200-day simple moving average is $254.32. The stock has a market capitalization of $1,425.66 billion, a price-to-earnings ratio of 25.66, a PEG ratio of 2.23 and a beta of 1.29.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, January 28th. The iPhone maker reported $4.99 EPS for the quarter, topping the consensus estimate of $4.54 by $0.45. Apple had a net margin of 21.49% and a return on equity of 60.19%. The business had revenue of $91.80 billion for the quarter, compared to analysts’ expectations of $88.41 billion. During the same quarter last year, the company posted $4.18 earnings per share. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. As a group, research analysts forecast that Apple Inc. will post 13.75 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a dividend of $0.77 per share. The ex-dividend date was Friday, February 7th. This represents a $3.08 annualized dividend and a dividend yield of 0.95%. Apple’s payout ratio is 25.90%.
In other news, Director Arthur D. Levinson sold 1,429 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $304.11, for a total transaction of $434,573.19. Following the transaction, the director now owns 1,134,712 shares of the company’s stock, valued at $345,077,266.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.05% of the company’s stock.
A number of research firms recently issued reports on AAPL. DA Davidson upped their target price on Apple from $375.00 to $385.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Piper Sandler upped their target price on Apple from $305.00 to $343.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Zacks Investment Research lowered Apple from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a research note on Thursday, January 30th. New Street Research raised Apple from a “reduce” rating to a “neutral” rating in a research note on Wednesday, January 29th. Finally, Bank of America upped their target price on Apple from $340.00 to $350.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $314.55.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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