Empower Advisory Group LLC Buys 29,348 Shares of Apple Inc. (NASDAQ:AAPL)

Empower Advisory Group LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,960,205 shares of the iPhone maker's stock after buying an additional 29,348 shares during the quarter. Apple comprises approximately 1.7% of Empower Advisory Group LLC's investment portfolio, making the stock its 14th largest holding. Empower Advisory Group LLC's holdings in Apple were worth $490,874,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of AAPL. Drystone LLC bought a new position in shares of Apple in the 4th quarter worth $25,000. SPX Gestao de Recursos Ltda acquired a new position in Apple during the third quarter worth $71,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Apple in the third quarter valued at $77,000. ARK Investment Management LLC acquired a new position in shares of Apple during the third quarter valued at about $110,000. Finally, Collier Financial bought a new stake in shares of Apple during the fourth quarter worth about $140,000. Institutional investors own 67.73% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on AAPL shares. Bank of America dropped their price target on shares of Apple from $250.00 to $240.00 and set a "buy" rating on the stock in a research report on Thursday. China Renaissance began coverage on shares of Apple in a report on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price target on the stock. Raymond James lifted their price target on Apple to $250.00 and gave the stock a "buy" rating in a report on Friday, April 4th. Morgan Stanley reduced their target price on shares of Apple from $252.00 to $220.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Jefferies Financial Group upgraded Apple from an "underperform" rating to a "hold" rating and dropped their price objective for the company from $202.33 to $167.88 in a research note on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $233.88.

Apple Trading Up 0.4 %

NASDAQ:AAPL traded up $0.91 during mid-day trading on Friday, reaching $209.28. 38,183,408 shares of the company's stock traded hands, compared to its average volume of 56,813,393. Apple Inc. has a 12-month low of $169.11 and a 12-month high of $260.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The company has a 50 day moving average price of $215.71 and a 200-day moving average price of $229.31. The firm has a market capitalization of $3.14 trillion, a price-to-earnings ratio of 33.22, a PEG ratio of 2.44 and a beta of 1.26.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. On average, sell-side analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were paid a $0.25 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.48%. Apple's payout ratio is 15.87%.

Insider Buying and Selling at Apple

In related news, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the sale, the chief executive officer now directly owns 3,280,295 shares of the company's stock, valued at approximately $733,637,976.75. This represents a 3.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the transaction, the chief financial officer now owns 4,569 shares in the company, valued at approximately $941,214. This represents a 50.01 % 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 valued at $41,760,140. 0.06% of the stock is currently owned by company insiders.

Apple Company Profile

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.