Sage Financial Management Group Inc. holds an $871,000 stake in Apple Inc. (NASDAQ: AAPL)


Sage Financial Management Group Inc. increased its position in Apple Inc. (NASDAQ: AAPLGet a rating) by 19.8% during the 1st quarter, according to its most recent Form 13F filed with the Securities and Exchange Commission. The fund held 4,988 shares of the iPhone maker after buying 825 additional shares during the quarter. Apple accounts for about 0.6% of Sage Financial Management Group Inc.’s investment portfolio, making the stock its 18th-largest position. Sage Financial Management Group Inc.’s holdings in Apple were worth $871,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently changed their positions in the company. Crew Capital Management Ltd. increased its position in Apple by 1.7% during the first quarter. Crew Capital Management Ltd. now owns 46,341 shares of the iPhone maker worth $8,092,000 after buying an additional 775 shares last quarter. Bay Colony Advisory Group Inc dba Bay Colony Advisors increased its position in Apple by 16.8% during the first quarter. Bay Colony Advisory Group Inc dba Bay Colony Advisors now owns 108,329 shares of the iPhone maker worth $18,915,000 after buying 15,603 additional shares last quarter. Belpointe Asset Management LLC increased its position in Apple by 5.0% during the first quarter. Belpointe Asset Management LLC now owns 515,326 shares of the iPhone maker worth $89,963,000 after buying an additional 24,478 shares last quarter. MADDEN SECURITIES Corp increased its position in Apple by 15.2% during the first quarter. MADDEN SECURITIES Corp now owns 51,448 shares of the iPhone maker worth $8,983,000 after buying an additional 6,793 shares last quarter. Finally, Spectrum Asset Management Inc. NB CA increased its position in Apple by 27.0% during the first quarter. Spectrum Asset Management Inc. NB CA now owns 22,971 shares of the iPhone maker worth $4,011,000 after buying 4,884 additional shares in the last quarter. Institutional investors and hedge funds hold 57.98% of the company’s shares.

Insider buying and selling at Apple

In other Apple news, please Katherine L. Adams sold 25,000 Apple shares 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 completion of the transaction, the Senior Vice President now owns 427,334 shares of the company, valued at approximately $70,411,823.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available via the SEC website. Insiders of the company hold 0.06% of the shares of the company.

Apple stock performance

Shares of AAPL opened at $165.35 on Friday. The company has a debt ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. The stock has a 50-day moving average of $146.34 and a 200-day moving average of $157.12. The company has a market capitalization of $2.66 trillion, a PE ratio of 27.29, a P/E/G ratio of 2.15 and a beta of 1.23. Apple Inc. has a one-year low of $129.04 and a one-year high of $182.94.

Apple (NASDAQ: AAPLGet a rating) last released its quarterly results on Thursday, July 28. The iPhone maker reported earnings per share (EPS) of $1.20 for the quarter, beating consensus analyst 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 return on equity of 152.97% and a net margin of 25.71%. The company’s quarterly revenue increased 1.9% year over year. In the same quarter of the previous year, the company achieved EPS of $1.30. On average, equity research analysts expect Apple Inc. to post EPS of 6.1 for the current fiscal year.

Apple said its board approved a stock repurchase program on Thursday, April 28 that allows the company to repurchase $90.00 billion in outstanding stock. This repurchase authorization allows the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Stock buyback programs often indicate that the company’s management believes its stock is undervalued.

Apple announces dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 11. Shareholders of record on Monday August 8 will receive a dividend of $0.23 per share. The ex-date of this dividend is Friday, August 5. This represents a dividend of $0.92 on an annualized basis and a yield of 0.56%. Apple’s dividend payout ratio (DPR) is currently 15.18%.

Analysts set new price targets

AAPL has been the subject of a number of analyst reports. Evercore ISI raised its price target on Apple from $180.00 to $185.00 in a Friday, July 29 research report. Itau BBA Securities launched coverage on Apple in a research note on Tuesday, July 26. They set an “underperforming” rating and a target price of $136.00 for the company. Fundamental Research set a target price of $177.07 on Apple and gave the stock a “buy” rating in a research note on Thursday. KeyCorp raised its target price on Apple from $173.00 to $177.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Bank of America reduced its target price on Apple from $200.00 to $185.00 in a Tuesday, July 26 research note. Two investment analysts gave the stock a sell rating, eight issued a hold rating, twenty-three issued a buy rating and one gave the company a high buy rating. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $179.27.

About Apple

(Get a rating)

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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Institutional ownership by quarter for Apple (NASDAQ:AAPL)



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Geraldine L. Melton