JBR Co Financial Management Inc buys 967 shares of Apple Inc. (NASDAQ:AAPL)

JBR Co Financial Management Inc increased its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 3.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,559 shares of the iPhone maker’s stock after purchasing an additional 967 shares during the period. Apple owns approximately 4.2% of JBR Co Financial Management Inc’s holdings, making the stock its 3rd biggest holding. JBR Co Financial Management Inc’s holdings in Apple were worth $5,240,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have added to or reduced their stakes in AAPL. Vanguard Group Inc. raised its holdings in Apple by 1.4% during 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 purchasing an additional 18,067,216 shares during the period. Norges Bank acquired a new stake in Apple during the fourth quarter valued at about $33,912,466,000. International Assets Investment Management LLC raised its holdings in 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 bought another 70,212,651 shares during the period. Wellington Management Group LLP boosted its holdings in Apple by 3.6% during the 4th quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker’s stock worth $11,677,190,000 after buying another 2,096,360 shares during that period. Finally, Fisher Asset Management LLC boosted its holdings in Apple by 2.0% during the 4th quarter. Fisher Asset Management LLC now owns 54,702,300 shares of the iPhone maker’s stock worth $10,531,834,000. after buying an additional 1,067,587 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s shares.

Apple stock up 1.4%

Shares of AAPL opened at $216.24 on Friday. The company has a market cap of $3.32 trillion, a PE ratio of 33.63, a price-to-earnings-growth ratio of 2.60 and a beta of 1.24. The company has a 50-day simple moving average of $215.80 and a 200-day simple moving average of $192.04. Apple Inc. it has a 52-week low of $164.07 and a 52-week high of $237.23. The company has a quick ratio of 0.99, a current ratio of 1.04, and a debt-to-equity ratio of 1.24.

Apple (NASDAQ:AAPL – Get Your Free Report ) last posted 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. The firm had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. Apple had a return on equity of 145.35% and a net margin of 26.44%. The company’s quarterly revenue was up 4.9% year over year. In the same quarter last year, the company earned $1.26 per share. Sell-side analysts anticipate that Apple Inc. will post 6.61 EPS for the current fiscal year.

Apple declared that its Board of Directors has authorized a stock buyback program on Thursday, May 2nd that allows the company to repurchase $110.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to buy up to 3.9% of its shares through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Apple announces dividend

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 given a dividend of $0.25 per share. This represents an annualized dividend of $1.00 and a yield of 0.46%. The ex-dividend date of this dividend is Monday, August 12. Apple’s payout ratio is 15.55%.

Insiders place their bets

In other news, insider Chris Kondo sold 4,999 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total transaction of $951,809.60. Following the sale, the insider now directly owns 29,278 shares in the company, valued at $5,574,531.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC’s website. In related 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 value of $14,368,500.00. Following the sale, the director now directly owns 4,359,576 shares in the company, valued at $835,207,570.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this hyperlink. Also, insider Chris Kondo sold 4,999 shares of the 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 transaction, the insider now owns 29,278 shares in the company, valued at $5,574,531.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 179,999 shares of company stock worth $35,964,310. 0.06% of shares are currently held by corporate insiders.

Analyst upgrades and downgrades

A number of research firms recently issued reports on AAPL. Cfra lifted their price objective on shares of Apple from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Citigroup raised their price objective on shares of Apple from $210.00 to $255.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Tigress Financial lifted their price objective on shares of Apple from $240.00 to $245.00 and gave the company a “strong-buy” rating in a report on Thursday, May 30th. Rosenblatt Securities lifted their price objective on shares of Apple from $260.00 to $261.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Sanford C. Bernstein lifted their price objective on shares of Apple from $195.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $234.29.

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Apple profile

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Apple Inc designs, manufactures and markets smartphones, personal computers, tablets, wearable devices and accessories worldwide. The company offers the iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multifunction tablets; and wearables, home and accessories including AirPods, Apple TV, Apple Watch, Beats products and HomePod.

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