Apple Inc. (NASDAQ:AAPL) is Canton Hathaway LLC’s 4th Largest Positionby Tristan Rich
Canton Hathaway LLC lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,627 shares of the iPhone maker’s stock after selling 153 shares during the quarter. Apple makes up 2.1% of Canton Hathaway LLC’s portfolio, making the stock its 4th biggest holding. Canton Hathaway LLC’s holdings in Apple were worth $2,957,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the stock. FineMark National Bank & Trust grew its position in shares of Apple by 3.2% during the first quarter. FineMark National Bank & Trust now owns 211,873 shares of the iPhone maker’s stock worth $53,877,000 after purchasing an additional 6,583 shares in the last quarter. Keebeck Alpha LP purchased a new stake in shares of Apple during the first quarter worth about $557,000. Kathmere Capital Management LLC grew its holdings in Apple by 68.0% during the 1st quarter. Kathmere Capital Management LLC now owns 9,509 shares of the iPhone maker’s stock valued at $2,418,000 after buying an additional 3,849 shares in the last quarter. Osborn Williams & Donohoe LLC grew its holdings in Apple by 0.3% during the 1st quarter. Osborn Williams & Donohoe LLC now owns 123,059 shares of the iPhone maker’s stock valued at $31,293,000 after buying an additional 338 shares in the last quarter. Finally, Eagle Global Advisors LLC boosted its holdings in shares of Apple by 4.3% in the 1st quarter. Eagle Global Advisors LLC now owns 150,496 shares of the iPhone maker’s stock worth $38,270,000 after purchasing an additional 6,149 shares during the period. Hedge funds and other institutional investors own 61.95% of the company’s stock.
A number of equities research analysts have weighed in on the company. Sanford C. Bernstein set a $285.00 target price on Apple and gave the company a “neutral” rating in a research report on Friday, May 1st. Citigroup dropped their target price on Apple from $350.00 to $320.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th. Goldman Sachs Group restated a “sell” rating and set a $243.00 target price on shares of Apple in a research note on Friday, May 1st. Nomura Securities boosted their price target on Apple from $225.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Finally, Canaccord Genuity boosted their price target on Apple from $300.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-nine have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $303.38.
In other Apple news, SVP Deirdre O’brien sold 9,137 shares of the firm’s stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $285.12, for a total value of $2,605,141.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Luca Maestri sold 41,062 shares of the firm’s stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $264.44, for a total value of $10,858,435.28. Following the completion of the sale, the chief financial officer now owns 65,427 shares in the company, valued at $17,301,515.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 95,752 shares of company stock worth $24,750,125. 0.05% of the stock is owned by insiders.
Apple stock opened at $318.25 on Friday. Apple Inc. has a 1-year low of $170.27 and a 1-year high of $327.85. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.50 and a quick ratio of 1.46. The stock has a market cap of $1,396.56 billion, a PE ratio of 24.96, a P/E/G ratio of 2.41 and a beta of 1.17. The stock’s fifty day moving average is $294.04 and its two-hundred day moving average is $287.10.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.26 by $0.29. Apple had a return on equity of 64.49% and a net margin of 21.35%. The company had revenue of $58.31 billion for the quarter, compared to analysts’ expectations of $54.64 billion. During the same period last year, the firm earned $2.46 earnings per share. Apple’s quarterly revenue was up .5% on a year-over-year basis. On average, research analysts expect that Apple Inc. will post 12.31 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were paid a $0.82 dividend. The ex-dividend date of this dividend was Friday, May 8th. This is a boost from Apple’s previous quarterly dividend of $0.77. This represents a $3.28 dividend on an annualized basis and a yield of 1.03%. Apple’s dividend payout ratio (DPR) is currently 27.59%.
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. 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, HomePod, iPod touch, and other Apple-branded and third-party accessories.
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