Fidelis Capital Partners LLC boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 13.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 249,087 shares of the iPhone maker's stock after acquiring an additional 28,643 shares during the period. Apple accounts for 5.7% of Fidelis Capital Partners LLC's portfolio, making the stock its largest position. Fidelis Capital Partners LLC's holdings in Apple were worth $56,794,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Gruss & Co. LLC boosted its stake in shares of Apple by 27.0% during the 4th quarter. Gruss & Co. LLC now owns 4,700 shares of the iPhone maker's stock worth $1,177,000 after acquiring an additional 1,000 shares during the period. Investment Partners LTD. grew its holdings in Apple by 0.4% during the 4th quarter. Investment Partners LTD. now owns 34,115 shares of the iPhone maker's stock worth $8,543,000 after acquiring an additional 124 shares during the period. LGT Fund Management Co Ltd. increased its stake in Apple by 13.4% in the fourth quarter. LGT Fund Management Co Ltd. now owns 160,612 shares of the iPhone maker's stock valued at $40,220,000 after purchasing an additional 19,016 shares in the last quarter. DJE Kapital AG acquired a new position in shares of Apple during the fourth quarter worth approximately $136,027,000. Finally, Sonoma Private Wealth LLC increased its holdings in Apple by 7.5% during the 4th quarter. Sonoma Private Wealth LLC now owns 5,957 shares of the iPhone maker's stock worth $1,492,000 after purchasing an additional 417 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.
Insider Activity at Apple
In related news, COO Jeffrey E. Williams sold 35,493 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the transaction, the chief operating officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of the business's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value 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. Insiders have sold 187,021 shares of company stock worth $41,760,140 over the last ninety days. Insiders own 0.06% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on AAPL shares. Jefferies Financial Group reaffirmed an "underperform" rating and set a $170.62 target price (up from $167.88) on shares of Apple in a research report on Friday, May 2nd. Monness Crespi & Hardt cut their target price on shares of Apple from $260.00 to $245.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. China Renaissance began coverage on shares of Apple in a research note on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price objective on the stock. Raymond James lowered their target price on Apple from $250.00 to $230.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Finally, Redburn Partners set a $230.00 target price on Apple in a research report on Friday, January 31st. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Apple has an average rating of "Hold" and a consensus target price of $235.80.
Check Out Our Latest Research Report on Apple
Apple Stock Performance
Apple stock traded up $12.26 during midday trading on Monday, reaching $210.79. 63,644,481 shares of the company's stock were exchanged, compared to its average volume of 56,124,810. The firm has a market cap of $3.15 trillion, a price-to-earnings ratio of 33.46, a P/E/G ratio of 2.44 and a beta of 1.27. The stock's 50-day simple moving average is $208.09 and its 200 day simple moving average is $227.33. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92.
Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping the consensus estimate of $1.62 by $0.03. The company had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. The business's revenue for the quarter was up 5.1% on a year-over-year basis. During the same period last year, the firm earned $1.53 earnings per share. On average, analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple declared that its Board of Directors has authorized a share repurchase program on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.
Apple Increases Dividend
The business also recently disclosed 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. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.49%. This is an increase from Apple's previous quarterly dividend of $0.25. The ex-dividend date is Monday, May 12th. Apple's dividend payout ratio (DPR) is 16.20%.
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.
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