Keybank National Association OH lowered its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,330,040 shares of the iPhone maker's stock after selling 93,078 shares during the period. Apple accounts for approximately 5.1% of Keybank National Association OH's portfolio, making the stock its 3rd largest holding. Keybank National Association OH's holdings in Apple were worth $1,334,749,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in AAPL. Drystone LLC bought a new stake in Apple during the fourth quarter valued at $25,000. Life Planning Partners Inc bought a new stake in Apple during the fourth quarter valued at $47,000. SPX Gestao de Recursos Ltda bought a new stake in Apple during the third quarter valued at $71,000. Teachers Insurance & Annuity Association of America bought a new stake in Apple during the third quarter valued at $77,000. Finally, Compass Planning Associates Inc bought a new stake in Apple during the fourth quarter valued at $96,000. Hedge funds and other institutional investors own 67.73% of the company's stock.
Apple Stock Down 0.3%
Shares of NASDAQ AAPL traded down $0.60 on Wednesday, reaching $212.33. 49,235,970 shares of the company's stock traded hands, compared to its average volume of 56,032,102. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The business's 50 day simple moving average is $207.14 and its two-hundred day simple moving average is $227.09. The company has a market cap of $3.17 trillion, a price-to-earnings ratio of 33.70, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26.
Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $94.04 billion. During the same quarter last year, the firm earned $1.53 earnings per share. The business's revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple announced that its board has approved a share repurchase program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.
Apple Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders 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 is Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.49%. Apple's dividend payout ratio is presently 16.20%.
Insider Activity
In other news, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction that occurred on 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 owns 3,280,295 shares in the company, valued at $733,637,976.75. This represents a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Chris Kondo sold 4,486 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the sale, the insider now owns 15,533 shares in the company, valued at approximately $3,233,815.27. The trade was a 22.41% 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 90 days. 0.06% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on AAPL shares. Needham & Company LLC reissued a "buy" rating and set a $225.00 price objective on shares of Apple in a research note on Friday, May 2nd. Maxim Group upped their target price on shares of Apple to $215.00 and gave the stock a "hold" rating in a research report on Friday, February 21st. Argus upgraded shares of Apple to a "strong-buy" rating in a research report on Friday, January 31st. Raymond James cut their target price on shares of Apple from $250.00 to $230.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Finally, UBS Group cut their target price on shares of Apple from $236.00 to $210.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. 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 issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $235.80.
Check Out Our Latest Report on AAPL
Apple Profile
(
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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