Avalon Capital Management decreased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 4.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,393 shares of the iPhone maker's stock after selling 3,275 shares during the period. Apple makes up 5.2% of Avalon Capital Management's holdings, making the stock its 4th biggest position. Avalon Capital Management's holdings in Apple were worth $16,125,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its position in shares of Apple by 10.6% in the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock valued at $136,074,372,000 after buying an additional 55,935,105 shares in the last quarter. FMR LLC raised its position in Apple by 5.3% during the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock valued at $84,779,231,000 after purchasing an additional 18,224,005 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Apple by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock worth $77,542,863,000 after buying an additional 20,483,787 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Apple by 6.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker's stock valued at $22,121,656,000 after buying an additional 5,893,741 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Apple by 1.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 91,568,390 shares of the iPhone maker's stock valued at $21,335,435,000 after acquiring an additional 1,742,087 shares during the last quarter. Institutional investors own 67.73% of the company's stock.
Apple Stock Performance
Shares of AAPL stock traded up $0.03 during trading hours on Tuesday, hitting $198.92. 49,654,320 shares of the company were exchanged, compared to its average volume of 56,219,123. The firm has a fifty day simple moving average of $211.32 and a 200 day simple moving average of $228.33. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The stock has a market capitalization of $2.99 trillion, a price-to-earnings ratio of 31.57, a P/E/G ratio of 2.44 and a beta of 1.27. 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 (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. The business had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.53 EPS. Research analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 12th will be issued a dividend of $0.26 per share. This is a boost from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.52%. Apple's payout ratio is presently 16.20%.
Apple declared that its board has initiated a share repurchase program on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's management believes its shares are undervalued.
Analyst Ratings Changes
A number of research firms recently issued reports on AAPL. Wedbush cut shares of Apple from an "outperform" rating to a "neutral" rating in a research report on Friday. Redburn Partners set a $230.00 price objective on shares of Apple in a report on Friday, January 31st. Raymond James lowered their target price on Apple from $250.00 to $230.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Maxim Group increased their price target on Apple to $215.00 and gave the company a "hold" rating in a research note on Friday, February 21st. Finally, Citigroup restated a "cautious" rating on shares of Apple in a research report on Monday. Four 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's stock. According to data from MarketBeat.com, Apple presently has an average rating of "Hold" and an average price target of $235.80.
View Our Latest Analysis on AAPL
Insiders Place Their Bets
In related news, CFO Kevan Parekh sold 4,570 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the sale, the chief financial officer now owns 4,569 shares of the company's stock, valued at approximately $941,214. This represents a 50.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of the stock in a transaction on Wednesday, April 2nd. The stock was 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 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. Insiders have sold a total of 187,021 shares of company stock worth $41,760,140 over the last 90 days. Corporate insiders own 0.06% of the company's stock.
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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