CORDA Investment Management LLC. lessened its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 10.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 193,677 shares of the iPhone maker's stock after selling 21,497 shares during the period. Apple makes up about 3.9% of CORDA Investment Management LLC.'s investment portfolio, making the stock its 3rd largest position. CORDA Investment Management LLC.'s holdings in Apple were worth $48,501,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. State Street Corp increased its position in Apple by 10.6% during the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock valued at $136,074,372,000 after acquiring an additional 55,935,105 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in shares of Apple by 23,555.4% during the 4th quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock worth $5,272,653,000 after purchasing an additional 20,966,232 shares during the period. Geode Capital Management LLC grew its holdings in Apple by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock valued at $77,542,863,000 after purchasing an additional 20,483,787 shares during the last quarter. FMR LLC lifted its stake in Apple by 5.3% in the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock worth $84,779,231,000 after purchasing an additional 18,224,005 shares during the last quarter. Finally, Strategic Financial Concepts LLC boosted its position in shares of Apple by 25,285.2% during the fourth quarter. Strategic Financial Concepts LLC now owns 9,628,864 shares of the iPhone maker's stock valued at $2,411,260,000 after buying an additional 9,590,933 shares during the period. Institutional investors own 67.73% of the company's stock.
Insider Activity at Apple
In related news, CFO Kevan Parekh sold 4,570 shares of the firm's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the completion of the transaction, the chief financial officer now directly owns 4,569 shares of the company's stock, valued at $941,214. This trade represents a 50.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of the business's 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 completion of the sale, the chief operating officer now directly owns 390,059 shares in the company, valued at $87,377,116.59. This trade represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 187,021 shares of company stock worth $41,760,140. Company insiders own 0.06% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have commented on the company. Redburn Partners set a $230.00 price objective on Apple in a research report on Friday, January 31st. Scotiabank downgraded shares of Apple to a "market perform" rating in a research note on Friday, May 2nd. Barclays lowered their price target on Apple from $197.00 to $173.00 and set an "underweight" rating for the company in a report on Wednesday, April 30th. China Renaissance started 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. Finally, The Goldman Sachs Group reduced their price objective on shares of Apple from $259.00 to $256.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $235.80.
Get Our Latest Report on Apple
Apple Stock Down 1.1 %
Apple stock opened at $196.26 on Thursday. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The firm has a market cap of $2.95 trillion, a price-to-earnings ratio of 31.15, a P/E/G ratio of 2.44 and a beta of 1.27. The firm has a fifty day moving average price of $209.64 and a two-hundred day moving average price of $227.91. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88.
Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 160.83%. The business had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. During the same quarter in the previous year, the firm posted $1.53 earnings per share. Apple's revenue was up 5.1% compared to the same quarter last year. As a group, analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.
Apple announced that its board has authorized a stock repurchase plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its stock is 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. The ex-dividend date of this dividend is Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.53%. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio is currently 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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