JBR Co Financial Management Inc Has $5.24 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

JBR Co Financial Management Inc raised its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 3.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 30,559 shares of the iPhone maker’s stock after purchasing an additional 967 shares during the period. Apple accounts for about 4.2% of JBR Co Financial Management Inc’s portfolio, making the stock its 3rd largest position. JBR Co Financial Management Inc’s holdings in Apple were worth $5,240,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of AAPL. Norges Bank purchased a new position in shares of Apple in the fourth quarter valued at approximately $33,912,466,000. International Assets Investment Management LLC boosted its position in shares of Apple by 14,395.4% during the 4th quarter. International Assets Investment Management LLC now owns 70,700,395 shares of the iPhone maker’s stock worth $136,119,470,000 after purchasing an additional 70,212,651 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Apple by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock worth $253,766,929,000 after buying an additional 18,067,216 shares in the last quarter. Global Assets Advisory LLC raised its stake in Apple by 23,076.4% in the 1st quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock valued at $1,584,512,000 after purchasing an additional 9,200,345 shares during the last quarter. Finally, Cerity Partners LLC increased its position in Apple by 130.1% during the 4th quarter. Cerity Partners LLC now owns 9,430,190 shares of the iPhone maker’s stock worth $1,815,594,000 after purchasing an additional 5,331,439 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Stock Up 1.4 %

Shares of Apple stock opened at $216.24 on Friday. The stock has a market capitalization of $3.32 trillion, a P/E ratio of 33.63, a PEG ratio of 2.60 and a beta of 1.24. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. The stock has a 50 day moving average price of $215.80 and a two-hundred day moving average price of $192.04. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.23.

Apple (NASDAQ:AAPL – Get Free Report) last issued its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 145.35% and a net margin of 26.44%. The firm had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. During the same period last year, the business earned $1.26 earnings per share. Apple’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities analysts expect that Apple Inc. will post 6.61 earnings per share for the current year.

Apple announced that its board has authorized a share repurchase plan on Thursday, May 2nd that allows the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, August 12th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.46%. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 4,999 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total transaction of $951,809.60. Following the completion of the sale, the insider now directly owns 29,278 shares of the company’s stock, valued at approximately $5,574,531.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the business’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 value of $14,368,500.00. Following the sale, the director now owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chris Kondo sold 4,999 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total value of $951,809.60. Following the sale, the insider now owns 29,278 shares in the company, valued at approximately $5,574,531.20. The disclosure for this sale can be found here. In the last three months, insiders sold 179,999 shares of company stock valued at $35,964,310. 0.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Sanford C. Bernstein raised their price objective on Apple from $195.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, June 21st. Canaccord Genuity Group raised their price objective on Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Saturday, May 4th. Canaccord Genuity Group raised their price objective on Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Citigroup lifted their price objective on Apple from $210.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Cfra lifted their price objective on Apple from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $234.29.

Check Out Our Latest Stock Analysis on Apple

Apple Profile

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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.

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