Folger Nolan Fleming Douglas Capital Management Inc. lifted its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 5.0% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 154,732 shares of the iPhone maker’s stock after acquiring an additional 7,322 shares during the period. Apple makes up approximately 3.5% of Folger Nolan Fleming Douglas Capital Management Inc.’s investment portfolio, making the stock its 5th largest position. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Apple were worth $39,269,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Lifetime Wealth Management P.C. acquired a new position in shares of Apple in the 4th quarter valued at about $41,000. ROSS JOHNSON & Associates LLC grew its stake in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after buying an additional 180 shares during the period. LSV Asset Management purchased a new stake in shares of Apple during the 4th quarter valued at about $65,000. Timmons Wealth Management LLC acquired a new position in Apple during the 4th quarter worth approximately $69,000. Finally, Inspire Investing LLC purchased a new position in Apple in the 4th quarter worth approximately $76,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.
Apple Price Performance
Shares of AAPL stock opened at $316.16 on Friday. The firm has a fifty day moving average of $298.65 and a two-hundred day moving average of $274.97. The firm has a market cap of $4.64 trillion, a P/E ratio of 38.23, a P/E/G ratio of 2.73 and a beta of 1.10. Apple Inc. has a 1-year low of $201.50 and a 1-year high of $317.40. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02.
Apple Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were paid a dividend of $0.27 per share. The ex-dividend date was Monday, May 11th. This is an increase from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 0.3%. Apple’s payout ratio is currently 13.06%.
Insider Activity at Apple
In other Apple news, insider Ben Borders sold 116 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction of $34,236.24. Following the transaction, the insider owned 38,713 shares of the company’s stock, valued at $11,425,754.82. This trade represents a 0.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevan Parekh sold 1,534 shares of Apple stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total value of $421,850.00. Following the completion of the transaction, the chief financial officer owned 13,366 shares of the company’s stock, valued at approximately $3,675,650. The trade was a 10.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 2,924 shares of company stock worth $825,546 in the last 90 days. 0.06% of the stock is currently owned by insiders.
Trending Headlines about Apple
Here are the key news stories impacting Apple this week:
- Positive Sentiment: Apple announced a multiyear partnership with Broadcom worth more than $30 billion to design and produce U.S.-made custom silicon and wireless chips, its largest domestic manufacturing commitment to date. The deal improves supply-chain resiliency and supports future product cycles. Article Title
- Positive Sentiment: JPMorgan said Apple’s recent price increases for Mac and iPad, and any possible iPhone hikes, are unlikely to significantly hurt demand, and it raised its price target while reiterating a Buy rating. Article Title
- Positive Sentiment: UBS said App Store data points to roughly 3% growth in Apple’s June quarter, signaling that services revenue remains resilient even as U.S. revenue softens somewhat. Article Title
- Neutral Sentiment: Several pieces framed Apple as a potential leader in a broader “Magnificent Seven” rebound, but these were mostly market commentary rather than company-specific catalysts. Article Title
- Negative Sentiment: An EU court rejected Apple’s challenge to Digital Markets Act gatekeeper rules, leaving the company exposed to tighter App Store and iOS antitrust obligations in Europe. Article Title
- Negative Sentiment: Hedgeye reportedly added Apple as a new short idea, which may be adding some caution around the stock’s near-term valuation after a strong run. Article Title
Wall Street Analysts Forecast Growth
AAPL has been the subject of several recent research reports. DA Davidson reaffirmed a “neutral” rating and issued a $270.00 price objective on shares of Apple in a research report on Friday, May 1st. BNP Paribas Exane raised shares of Apple from a “neutral” rating to an “outperform” rating and set a $300.00 target price on the stock in a research report on Friday, April 17th. Wells Fargo & Company restated an “overweight” rating and issued a $310.00 target price (up from $300.00) on shares of Apple in a research note on Friday, May 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a report on Tuesday, June 9th. Finally, Robert W. Baird set a $310.00 price objective on Apple in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.85.
Get Our Latest Stock Analysis on Apple
Apple Profile
Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.
Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.
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