Kapstone Financial Advisors LLC lessened its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 90,130 shares of the iPhone maker's stock after selling 1,225 shares during the quarter. Apple comprises about 11.8% of Kapstone Financial Advisors LLC's investment portfolio, making the stock its 2nd biggest holding. Kapstone Financial Advisors LLC's holdings in Apple were worth $21,574,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. Drystone LLC bought a new stake in shares of Apple during the fourth quarter valued at approximately $25,000. SPX Gestao de Recursos Ltda bought a new stake in Apple in the third quarter worth $71,000. Teachers Insurance & Annuity Association of America bought a new stake in Apple in the third quarter worth $77,000. Compass Planning Associates Inc bought a new stake in Apple in the fourth quarter worth $96,000. Finally, Collier Financial bought a new stake in Apple in the fourth quarter worth $140,000. Hedge funds and other institutional investors own 67.73% of the company's stock.
Apple Stock Down 0.3%
Shares of AAPL traded down $0.60 during mid-day trading on Wednesday, hitting $212.33. 49,235,970 shares of the company traded hands, compared to its average volume of 56,032,102. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $3.17 trillion, a PE ratio of 33.70, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27. The business has a 50 day moving average of $207.14 and a 200 day moving average of $227.09.
Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 160.83%. The firm had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. During the same quarter in the prior year, the company posted $1.53 earnings per share. The company's revenue for the quarter was up 5.1% compared to the same quarter last year. Equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.
Apple announced that its board has approved a stock buyback program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its stock is undervalued.
Apple Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 12th will be given a $0.26 dividend. The ex-dividend date is Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.49%. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio is currently 16.20%.
Insider Activity at Apple
In other Apple news, SVP Katherine L. Adams sold 38,822 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total value of $8,683,316.74. Following the sale, the senior vice president now owns 179,158 shares in the company, valued at approximately $40,072,269.86. This represents a 17.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Jeffrey E. Williams sold 35,493 shares of the company's stock in a transaction that occurred 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 approximately $87,377,116.59. This represents a 8.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,507 shares of company stock worth $42,694,080 over the last quarter. Insiders own 0.06% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on AAPL shares. Bank of America reduced 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, April 24th. Citigroup restated a "cautious" rating on shares of Apple in a research report on Monday, May 5th. The Goldman Sachs Group reduced their price target on shares of Apple from $259.00 to $256.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Tigress Financial lifted their price objective on shares of Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a research note on Thursday, April 3rd. Finally, Rosenblatt Securities lowered shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 price objective for the company. in a research note on Friday, May 2nd. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Apple has a consensus rating of "Hold" and an average price target of $235.80.
Check Out Our Latest Stock Analysis on AAPL
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.
Further Reading
Before you consider Apple, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Apple wasn't on the list.
While Apple currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Explore Elon Musk’s boldest ventures yet—from AI and autonomy to space colonization—and find out how investors can ride the next wave of innovation.
Get This Free Report
