Apple Inc. (NASDAQ:AAPL) is Magnolia Capital Management Ltd.’s 5th Largest Position

Magnolia Capital Management Ltd. raised its position in Apple Inc. (NASDAQ:AAPL) by 1.0% during the second quarter, HoldingsChannel.com reports. The firm owned 27,016 shares of the iPhone maker’s stock after purchasing an additional 265 shares during the period. Apple makes up 4.8% of Magnolia Capital Management Ltd.’s portfolio, making the stock its 5th biggest position. Magnolia Capital Management Ltd.’s holdings in Apple were worth $5,690,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc bought a new stake in shares of Apple during the 1st quarter worth approximately $35,000. A.P. Gilfoyle & Co. L.P. purchased a new stake in Apple in the fourth quarter worth $39,000. Gilfoyle & Co LLC lifted its position in shares of Apple by 168.0% during the fourth quarter. Gilfoyle & Co LLC now owns 268 shares of the iPhone maker’s stock worth $52,000 after purchasing an additional 168 shares during the last quarter. University of Texas Texas AM Investment Managment Co. boosted its stake in shares of Apple by 657.1% during the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after purchasing an additional 368 shares during the period. Finally, Clarity Asset Management Inc. bought a new position in shares of Apple in the fourth quarter worth about $85,000. Institutional investors own 60.41% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the completion of the transaction, the director now directly owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 188,884 shares of company stock worth $38,092,387. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Up 0.4 %

AAPL stock opened at $228.03 on Wednesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99. The firm’s fifty day simple moving average is $220.53 and its 200-day simple moving average is $194.75. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.23. The company has a market capitalization of $3.50 trillion, a P/E ratio of 35.46, a price-to-earnings-growth ratio of 2.60 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating the consensus estimate of $1.34 by $0.06. The company had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 145.35%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.26 earnings per share. As a group, equities research analysts forecast that Apple Inc. will post 6.61 earnings per share for the current year.

Apple announced that its Board of Directors has approved a stock buyback program on Thursday, May 2nd that permits the company to buyback $110.00 billion in shares. This buyback authorization permits the iPhone maker to purchase up to 3.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date was Monday, August 12th. Apple’s payout ratio is presently 15.55%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AAPL shares. Monness Crespi & Hardt boosted their price objective on shares of Apple from $205.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Wedbush increased their price objective on Apple from $275.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Oppenheimer lifted their target price on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, June 28th. Piper Sandler reissued a “neutral” rating and set a $225.00 price target on shares of Apple in a research report on Tuesday. Finally, Bank of America restated a “buy” rating and issued a $256.00 price objective on shares of Apple in a report on Tuesday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $234.51.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.