Kanawha Capital Management LLC boosted its stake in Apple Inc. (NASDAQ:AAPL) by 2.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 96,206 shares of the iPhone maker’s stock after acquiring an additional 2,504 shares during the period. Apple accounts for about 3.3% of Kanawha Capital Management LLC’s holdings, making the stock its 2nd biggest position. Kanawha Capital Management LLC’s holdings in Apple were worth $28,251,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently modified their holdings of AAPL. Orgel Wealth Management LLC increased its stake in 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 last quarter. Toth Financial Advisory Corp increased its stake in 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 last quarter. Verus Financial Partners Inc. increased its stake in 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 last quarter. Sterling Investment Advisors Ltd. increased 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 worth $11,936,000 after acquiring an additional 507 shares during the last quarter. Finally, SeaCrest Wealth Management LLC increased 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 worth $26,587,000 after acquiring an additional 1,992 shares during the last quarter. Hedge funds and other institutional investors own 60.28% of the company’s stock.
Apple stock opened at $324.87 on Friday. The stock has a 50-day moving average of $310.05 and a two-hundred day moving average of $254.32. 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 stock has a market cap of $1,425.66 billion, a PE ratio of 25.66, a price-to-earnings-growth ratio of 2.23 and a beta of 1.29.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, January 28th. The iPhone maker reported $4.99 EPS for the quarter, beating analysts’ consensus estimates of $4.54 by $0.45. Apple had a return on equity of 60.19% and a net margin of 21.49%. The company had revenue of $91.80 billion during the quarter, compared to analysts’ expectations of $88.41 billion. During the same period last year, the business posted $4.18 earnings per share. The firm’s revenue was up 8.9% compared to the same quarter last year. As a group, sell-side analysts predict that Apple Inc. will post 13.75 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend was Friday, February 7th. Apple’s dividend payout ratio (DPR) is presently 25.90%.
In other Apple news, Director Arthur D. Levinson sold 1,429 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $304.11, for a total value of $434,573.19. Following the completion of the sale, the director now directly owns 1,134,712 shares in the company, valued at $345,077,266.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.05% of the company’s stock.
A number of analysts have issued reports on AAPL shares. Canaccord Genuity raised Apple to a “buy” rating and set a $355.00 price objective on the stock in a research note on Tuesday, January 28th. Evercore ISI began coverage on Apple in a research report on Friday, February 7th. They set a “buy” rating and a $365.00 target price on the stock. Royal Bank of Canada boosted their target price on Apple from $330.00 to $358.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Deutsche Bank reissued a “neutral” rating and set a $305.00 target price on shares of Apple in a research report on Monday, February 3rd. Finally, Needham & Company LLC downgraded Apple from a “strong-buy” rating to a “buy” rating and boosted their target price for the company from $280.00 to $350.00 in a research report on Monday, January 6th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have given a buy rating to the company’s stock. Apple has a consensus rating of “Buy” and a consensus target price of $314.55.
Apple Company Profile
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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