Iberiabank Corp boosted its holdings in Apple Inc. (NASDAQ:AAPL) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,316 shares of the iPhone maker’s stock after purchasing an additional 1,300 shares during the period. Apple comprises about 2.3% of Iberiabank Corp’s portfolio, making the stock its 5th largest holding. Iberiabank Corp’s holdings in Apple were worth $22,410,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the stock. Sage Financial Group Inc. acquired a new stake in shares of Apple during the 4th quarter worth about $36,000. CXI Advisors acquired a new stake in shares of Apple during the 4th quarter worth about $68,000. Kahn Brothers Group Inc. DE acquired a new stake in shares of Apple during the 3rd quarter worth about $112,000. Fulcrum Equity Management acquired a new stake in shares of Apple during the 3rd quarter worth about $135,000. Finally, Avondale Wealth Management lifted its stake in shares of Apple by 68.0% during the 4th quarter. Avondale Wealth Management now owns 531 shares of the iPhone maker’s stock worth $156,000 after buying an additional 215 shares during the last quarter. 60.28% of the stock is owned by institutional investors and hedge funds.
Apple stock opened at $324.87 on Friday. The company has a quick ratio of 1.56, a current ratio of 1.60 and a debt-to-equity ratio of 1.04. Apple Inc. has a 12-month low of $169.38 and a 12-month high of $327.85. The firm’s fifty day moving average is $310.05 and its 200 day moving average is $254.32. The company has a market capitalization of $1,425.66 billion, a PE ratio of 25.66, a PEG ratio of 2.23 and a beta of 1.29.
Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, January 28th. The iPhone maker reported $4.99 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $91.80 billion for the quarter, compared to the consensus estimate of $88.41 billion. During the same quarter in the previous year, the company earned $4.18 EPS. Apple’s quarterly revenue was up 8.9% compared to the same quarter last year. Sell-side analysts expect that Apple Inc. will post 13.75 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors 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 dividend on an annualized basis and a dividend yield of 0.95%. Apple’s payout ratio is presently 25.90%.
In related news, Director Arthur D. Levinson sold 1,429 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $345,077,266.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.05% of the stock is owned by insiders.
AAPL has been the subject of a number of research reports. Rosenblatt Securities raised their target price on shares of Apple from $150.00 to $250.00 and gave the stock a “sell” rating in a research note on Friday, January 24th. Sanford C. Bernstein restated a “hold” rating and set a $300.00 target price on shares of Apple in a research note on Wednesday, January 29th. Cowen raised their target price on shares of Apple from $325.00 to $350.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Loop Capital restated a “hold” rating and set a $325.00 target price on shares of Apple in a research note on Wednesday, January 29th. Finally, Macquarie cut shares of Apple from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have given a buy rating to the company’s stock. Apple presently has an average rating of “Buy” and an average price target 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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