Elite Life Management LLC buys 289 shares of Apple Inc. (NASDAQ:AAPL)

Elite Life Management LLC increased its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 5.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,289 shares of the iPhone maker after buying an additional 289 shares during the quarter. Apple represents 4.4% of Elite Life Management LLC’s investment portfolio, making the stock its seventh-largest holding. Elite Life Management LLC’s holdings in Apple were worth $907,000 at the end of the last quarter.

Several other large investors have also recently bought and sold shares of the company. Christopher J. Hasenberg Inc. acquired a new position in shares of Apple in the 1st quarter valued at about $35,000. Gilfoyle & Co LLC increased its holdings in shares of Apple by 118.0% in the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after buying an additional 118 shares in the last quarter. AP Gilfoyle & Co. LP acquired a new stake in Apple in the 4th quarter valued at about $39,000. University of Texas Texas AM Investment Management Co. increased its position in Apple by 657.1% in the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after buying an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. acquired a new stake in shares of Apple during the fourth quarter valued at $85,000. Institutional investors and hedge funds own 60.41% of the company’s shares.

Apple shares rise 1.4%

AAPL stock opened at $216.24 on Friday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.23. The company has a market cap 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’s 50-day moving average is $215.80 and its 200-day moving average is $192.04. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24.

Apple (NASDAQ:AAPL – Get Free Report) released its latest earnings results on Thursday, August 1. The iPhone maker reported earnings per share of $1.40 for the quarter, beating the consensus estimate of $1.34 by $0.06. The company had revenue of $85.78 billion for 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 grew 4.9% year-over-year. In the same quarter last year, the company generated earnings per share of $1.26. As a group, research analysts expect Apple Inc. to report earnings per share of $6.61 for the current year.

Dividend announcement from Apple

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, August 12th will receive 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 is Monday, August 12th. Apple’s dividend payout ratio is currently 15.55%.

Apple announced on Thursday, May 2, that its board of directors has approved a stock buyback program that will allow the company to repurchase $110.00 billion worth of outstanding shares. This buyback authorization allows the iPhone maker to buy back up to 3.9% of its shares through the open market. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Upgrades and downgrades by analysts

AAPL has been the subject of a number of research reports lately. Evercore ISI reiterated a “buy” rating and issued a $250.00 price target on shares of Apple in a research note on Thursday, August 1st. DA Davidson upgraded Apple from “neutral” to “buy” in a report on Tuesday, June 11th and raised their price target for the company from $200.00 to $230.00. Loop Capital upgraded Apple from “hold” to “buy” in a report on Monday, July 15th and raised their price target on the stock from $170.00 to $300.00. Raymond James increased their price target on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, Rosenblatt Securities raised their price target on Apple from $260.00 to $261.00 and gave the company a “buy” rating in a research report on Friday, August 2. One equities analyst rated the stock with a sell rating, nine have given a hold rating, 25 have given a buy rating, and one has given a strong buy rating. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $234.29.

Get our latest stock report on AAPL

Insider activity

In other Apple news, insider Chris Kondo sold 4,999 shares of the company’s stock on Wednesday, May 15. The shares were sold at an average price of $190.40, for a total value of $951,809.60. Following the sale, the insider now directly owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, director Arthur D. Levinson sold 75,000 shares of the company’s stock on Thursday, May 30. The shares were sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the transaction, the director now directly owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Chris Kondo sold 4,999 shares of the company’s stock in a transaction dated Wednesday, May 15. The shares were sold at an average price of $190.40, for a total value 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 $5,574,531.20. The disclosure regarding this sale can be found here. Insiders sold a total of 179,999 shares of the company’s stock during the last quarter, valued at $35,964,310. Insiders own 0.06% of the company’s stock.

Apple company profile

(Free report)

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 multipurpose tablets; and wearables, home devices, and accessories, including AirPods, Apple TV, Apple Watch, Beats products, and HomePod.