Tallon Kerry Patrick purchased a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 7,696 shares of the iPhone maker's stock, valued at approximately $1,877,000. Apple makes up 1.8% of Tallon Kerry Patrick's portfolio, making the stock its 17th largest position.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bernzott Capital Advisors purchased a new position in Apple during the 4th quarter worth $327,000. BFI Infinity Ltd. purchased a new position in shares of Apple in the 4th quarter valued at about $516,000. Mirador Capital Partners LP increased its holdings in shares of Apple by 0.7% in the 4th quarter. Mirador Capital Partners LP now owns 102,404 shares of the iPhone maker's stock valued at $25,644,000 after purchasing an additional 711 shares in the last quarter. Guardian Financial Partners LLC increased its holdings in shares of Apple by 7.7% in the 4th quarter. Guardian Financial Partners LLC now owns 14,520 shares of the iPhone maker's stock valued at $3,636,000 after purchasing an additional 1,037 shares in the last quarter. Finally, IFS Advisors LLC increased its holdings in shares of Apple by 12.8% in the 4th quarter. IFS Advisors LLC now owns 1,996 shares of the iPhone maker's stock valued at $500,000 after purchasing an additional 226 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.
Insider Transactions at Apple
In related news, COO Jeffrey E. Williams sold 35,493 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the sale, the chief operating officer now owns 390,059 shares of the company's stock, valued at $87,377,116.59. This represents a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of the company's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the sale, the chief financial officer now directly owns 4,569 shares of the company's stock, valued at $941,214. The trade was a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 187,021 shares of company stock worth $41,760,140. Insiders own 0.06% of the company's stock.
Apple Stock Performance
Apple stock traded up $2.14 during mid-day trading on Tuesday, reaching $212.93. The company's stock had a trading volume of 51,637,380 shares, compared to its average volume of 56,044,375. The firm has a market cap of $3.18 trillion, a price-to-earnings ratio of 33.80, a PEG ratio of 2.44 and a beta of 1.27. The business has a 50 day moving average price of $207.59 and a 200-day moving average price of $227.19. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10.
Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. The firm had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. The firm's revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.53 earnings per share. Sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple announced that its Board of Directors has authorized a share buyback plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its shares are undervalued.
Apple Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 12th will be given a dividend of $0.26 per share. The ex-dividend date is Monday, May 12th. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio is currently 16.20%.
Wall Street Analyst Weigh In
Several research firms have issued reports on AAPL. Loop Capital decreased their price target on shares of Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Evercore ISI raised their price target on shares of Apple from $260.00 to $275.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 18th. Morgan Stanley increased their price objective on shares of Apple from $220.00 to $235.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Wedbush lowered shares of Apple from an "outperform" rating to a "neutral" rating in a report on Friday, May 2nd. Finally, Barclays cut their price objective on shares of Apple from $197.00 to $173.00 and set an "underweight" rating on the stock in a report on Wednesday, April 30th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $235.80.
Check Out Our Latest Stock Analysis on Apple
About Apple
(
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 multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.
Further Reading
Before you consider Apple, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Apple wasn't on the list.
While Apple currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Almost everyone loves strong dividend-paying stocks, but high yields can signal danger. Discover 20 high-yield dividend stocks paying an unsustainably large percentage of their earnings. Enter your email to get this report and avoid a high-yield dividend trap.
Get This Free Report
