FourThought Financial Partners LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 136,017 shares of the iPhone maker's stock after selling 2,702 shares during the quarter. Apple makes up approximately 3.5% of FourThought Financial Partners LLC's holdings, making the stock its 3rd biggest position. FourThought Financial Partners LLC's holdings in Apple were worth $34,061,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the stock. Continuum Wealth Advisors LLC grew its holdings in shares of Apple by 14.1% in the fourth quarter. Continuum Wealth Advisors LLC now owns 2,141 shares of the iPhone maker's stock valued at $536,000 after purchasing an additional 265 shares in the last quarter. Exchange Capital Management Inc. increased its holdings in shares of Apple by 24.9% in the 4th quarter. Exchange Capital Management Inc. now owns 33,033 shares of the iPhone maker's stock worth $8,272,000 after buying an additional 6,592 shares during the last quarter. Twin Peaks Wealth Advisors LLC lifted its holdings in shares of Apple by 10.3% in the 4th quarter. Twin Peaks Wealth Advisors LLC now owns 65,563 shares of the iPhone maker's stock valued at $16,418,000 after acquiring an additional 6,101 shares during the last quarter. TruNorth Capital Management LLC raised its position in Apple by 47.0% during the fourth quarter. TruNorth Capital Management LLC now owns 14,451 shares of the iPhone maker's stock valued at $3,619,000 after purchasing an additional 4,621 shares during the period. Finally, Commonwealth Retirement Investments LLC increased its position in shares of Apple by 3.0% during the 4th quarter. Commonwealth Retirement Investments LLC now owns 11,861 shares of the iPhone maker's stock valued at $2,970,000 after purchasing an additional 340 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.
Apple Price Performance
Shares of NASDAQ:AAPL traded up $0.03 during midday trading on Tuesday, reaching $198.92. 49,654,320 shares of the company's stock traded hands, compared to its average volume of 56,219,123. The company has a market cap of $2.99 trillion, a P/E ratio of 31.57, a PEG ratio of 2.44 and a beta of 1.27. The company has a fifty day simple moving average of $211.32 and a two-hundred day simple moving average of $228.33. 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 Inc. has a 1 year low of $169.21 and a 1 year high of $260.10.
Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results 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 business had revenue of $95.36 billion during 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 company's quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.53 earnings per share. Equities 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 repurchase plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.
Apple Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 12th will be given a dividend of $0.26 per share. This is an increase from Apple's previous quarterly dividend of $0.25. The ex-dividend date is Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.52%. Apple's dividend payout ratio (DPR) is presently 16.20%.
Insiders Place Their Bets
In other news, COO Jeffrey E. Williams sold 35,493 shares of the stock in a transaction that occurred on 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 position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 108,136 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was 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 owns 3,280,295 shares of the company's stock, valued at $733,637,976.75. This represents a 3.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 187,021 shares of company stock valued at $41,760,140 in the last three months. 0.06% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Several research firms recently commented on AAPL. Maxim Group raised their price target on shares of Apple to $215.00 and gave the stock a "hold" rating in a research note on Friday, February 21st. Argus upgraded Apple to a "strong-buy" rating in a report on Friday, January 31st. TD Cowen dropped their price objective on Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a research report on Friday. Moffett Nathanson reiterated a "sell" rating and set a $188.00 price objective (down previously from $202.00) on shares of Apple in a research note on Tuesday, January 7th. Finally, KeyCorp upgraded Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $235.80.
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About Apple
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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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