Texas Capital Bank Wealth Management Services Inc. increased its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 3.1% during the first quarter, according to its latest filing with the Securities and Exchange Commission. The institutional investor held 171,034 shares of the iPhone maker after buying an additional 5,222 shares during the quarter. Apple accounts for about 2.7% of Texas Capital Bank Wealth Management Services Inc.’s holdings, making the stock its 7th-highest position. Texas Capital Bank Wealth Management Services Inc.’s holdings in Apple were worth $29,864,000 at the end of last quarter.
Other institutional investors and hedge funds have also recently increased or reduced their stakes in the company. Greystone Financial Group LLC increased its position in Apple shares by 1.8% during the first quarter. Greystone Financial Group LLC now owns 70,698 shares of the iPhone maker worth $12,345,000 after buying an additional 1,254 shares last quarter. HNP Capital LLC increased its stake in Apple shares by 447.8% in the first quarter. HNP Capital LLC now owns 325,891 shares of the iPhone maker valued at $56,904,000 after purchasing an additional 266,400 shares during the period. GSB Wealth Management LLC increased its stake in Apple by 1.2% in the first quarter. GSB Wealth Management LLC now owns 44,595 shares of the iPhone maker worth $7,787,000 after buying 543 additional shares last quarter. Corundum Group Inc. increased its stake in Apple by 32.5% during the first quarter. Corundum Group Inc. now owns 22,202 shares of the iPhone maker worth $3,877,000 after buying an additional 5,450 shares last quarter. Finally, Madison Wealth Partners Inc increased its stake in Apple by 1.5% in the first quarter. Madison Wealth Partners Inc now owns 29,980 shares of the iPhone maker valued at $5,235,000 after buying an additional 430 shares last quarter. Institutional investors and hedge funds hold 57.98% of the company’s shares.
A Wall Street analyst gives his opinion
AAPL has been the subject of several reports by research analysts. Credit Suisse Group set a price target of $166.00 on Apple in a Friday July 29 research note. Fundamental Research set a target price of $177.07 on Apple and gave the company a “buy” rating in a Thursday, August 4, report. Loop Capital cut its price target on Apple from $210.00 to $180.00 and set a “buy” rating for the company in a Wednesday, May 25 research note. Deutsche Bank Aktiengesellschaft set a price target of $175.00 on Apple shares in a Monday, August 1 research note. Finally, Bank of America lowered its price target on Apple shares from $200.00 to $185.00 in a Tuesday, July 26 report. Two equity research analysts gave the stock a sell rating, eight gave the stock a hold rating, twenty-three gave the stock a buy rating and one gave the shares a high buy rating. the society. Based on data from MarketBeat, the stock currently has an average rating of “moderate buy” and a consensus target price of $179.27.
Insider buying and selling
In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the company in a trade dated Wednesday, August 3. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the transaction, the senior vice president now owns 427,334 shares of the company, valued at $70,411,823.18. The sale was disclosed in a legal filing with the SEC, which is available on the SEC’s website. 0.06% of the shares are held by insiders.
Apple stock performance
NASDAQ:AAPL shares opened at $172.10 on Friday. The company has a 50-day moving average of $148.26 and a two-hundred-day moving average of $157.30. The company has a market capitalization of $2.77 trillion, a PE ratio of 28.40, a P/E/G ratio of 2.18 and a beta of 1.23. The company has a debt ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. Apple Inc. has a 12-month low of $129.04 and a 12-month high of $182.94.
Apple (NASDAQ:AAPL – Get Rating) last released its results on Thursday, July 28. The iPhone maker reported earnings per share (EPS) of $1.20 for the quarter, beating analyst consensus estimates of $1.14 by $0.06. The company posted revenue of $82.96 billion in the quarter, versus a consensus estimate of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The company’s revenue increased 1.9% year over year. In the same quarter of the previous year, the company achieved EPS of $1.30. As a group, research analysts expect Apple Inc. to post earnings per share of 6.1 for the current year.
Apple announces dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, August 11. Investors of record on Monday August 8 received a dividend of $0.23 per share. The ex-dividend date was Friday August 5th. This represents an annualized dividend of $0.92 and a dividend yield of 0.53%. Apple’s payout ratio is 15.18%.
Apple said its board authorized a stock repurchase program on Thursday, April 28 that allows the company to repurchase $90.00 billion in stock. This repurchase authorization allows the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Stock buyback programs usually indicate that the management of the company believes that its shares are undervalued.
Apple Company Profile
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Apple Inc designs, manufactures and markets smartphones, personal computers, tablets, wearables and accessories worldwide. It also sells various related services. Additionally, the company offers iPhone, a range of smartphones; Mac, a line of personal computers; iPad, a range of versatile tablets; AirPods Max, an over-ear wireless headset; and wearables, home and accessories including AirPods, Apple TV, Apple Watch, Beats products, HomePod and iPod touch.
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