Congress Park Capital LLC Grows Stock Holdings in Apple Inc. (NASDAQ:AAPL)
Congress Park Capital LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 36.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,539 shares of the iPhone maker’s stock after purchasing an additional 5,215 shares during the quarter. Apple comprises about 4.5% of Congress Park Capital LLC’s portfolio, making the stock its 5th biggest position. Congress Park Capital LLC’s holdings in Apple were worth $4,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd boosted its stake in Apple by 2,180.0% in the fourth quarter. Altshuler Shaham Ltd now owns 114 shares of the iPhone maker’s stock valued at $33,000 after acquiring an additional 109 shares during the last quarter. Sage Financial Group Inc. bought a new position in Apple in the fourth quarter valued at approximately $36,000. Stralem & Co. Inc. bought a new position in Apple in the first quarter valued at approximately $39,000. Sycomore Asset Management bought a new position in Apple in the first quarter valued at approximately $50,000. Finally, CXI Advisors bought a new position in Apple in the fourth quarter valued at approximately $68,000. 59.49% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on the stock. UBS Group set a $325.00 price objective on shares of Apple and gave the company a “buy” rating in a research note on Tuesday, May 12th. Wells Fargo & Co raised shares of Apple from an “equal weight” rating to an “overweight” rating and set a $315.00 price objective on the stock in a research note on Friday, March 13th. Goldman Sachs Group reiterated a “sell” rating and issued a $243.00 target price on shares of Apple in a report on Friday, May 1st. Credit Suisse Group reiterated a “hold” rating and issued a $260.00 target price on shares of Apple in a report on Tuesday, April 28th. Finally, Tigress Financial reiterated a “buy” rating on shares of Apple in a report on Tuesday, April 14th. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-nine have issued a buy rating to the company’s stock. Apple presently has a consensus rating of “Buy” and a consensus price target of $301.00.
Apple (NASDAQ:AAPL) last released its earnings results on Thursday, April 30th. The iPhone maker reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.29. Apple had a net margin of 21.35% and a return on equity of 64.49%. The business had revenue of $58.31 billion during the quarter, compared to the consensus estimate of $54.64 billion. During the same quarter last year, the firm earned $2.46 earnings per share. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. On average, equities research analysts forecast that Apple Inc. will post 12.31 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend was Friday, May 8th. This is an increase from Apple’s previous quarterly dividend of $0.77. Apple’s dividend payout ratio (DPR) is 27.59%.
In other news, insider Chris Kondo sold 4,491 shares of Apple stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $305.62, for a total value of $1,372,539.42. Following the completion of the transaction, the insider now owns 7,370 shares of the company’s stock, valued at approximately $2,252,419.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 41,062 shares of Apple stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $264.44, for a total transaction of $10,858,435.28. Following the completion of the transaction, the chief financial officer now directly owns 65,427 shares of the company’s stock, valued at approximately $17,301,515.88. The disclosure for this sale can be found here. In the last three months, insiders sold 95,752 shares of company stock valued at $24,750,125. Insiders own 0.05% of the company’s stock.
Apple Company Profile
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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