Transcend Capital Advisors LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 7.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 439,119 shares of the iPhone maker's stock after selling 35,470 shares during the period. Apple accounts for approximately 7.9% of Transcend Capital Advisors LLC's holdings, making the stock its biggest position. Transcend Capital Advisors LLC's holdings in Apple were worth $109,964,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp lifted its position in Apple by 10.6% in the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock worth $136,074,372,000 after purchasing an additional 55,935,105 shares during the period. Geode Capital Management LLC raised its stake in shares of Apple by 6.5% in 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. FMR LLC raised its stake in shares of Apple by 5.3% in the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock worth $84,779,231,000 after buying an additional 18,224,005 shares in the last quarter. Strategic Financial Concepts LLC boosted its stake in Apple by 25,285.2% during the fourth quarter. Strategic Financial Concepts LLC now owns 9,628,864 shares of the iPhone maker's stock valued at $2,411,260,000 after buying an additional 9,590,933 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Apple by 6.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker's stock worth $22,121,656,000 after acquiring an additional 5,893,741 shares during the period. Institutional investors own 67.73% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on AAPL. Wedbush upped their price target on shares of Apple from $250.00 to $270.00 and gave the company an "outperform" rating in a report on Friday. Oppenheimer cut shares of Apple from an "outperform" rating to a "market perform" rating in a report on Wednesday, January 29th. Bank of America dropped their price target on Apple from $250.00 to $240.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Sanford C. Bernstein raised their price objective on Apple from $240.00 to $260.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Finally, Redburn Partners set a $230.00 target price on Apple in a report on Friday, January 31st. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Apple presently has a consensus rating of "Moderate Buy" and a consensus target price of $233.25.
Check Out Our Latest Stock Report on AAPL
Apple Stock Performance
Shares of NASDAQ:AAPL traded down $9.24 during trading on Friday, reaching $204.08. The stock had a trading volume of 66,471,523 shares, compared to its average volume of 59,122,438. The firm has a market capitalization of $3.07 trillion, a price-to-earnings ratio of 32.38, a P/E/G ratio of 2.44 and a beta of 1.26. Apple Inc. has a 52 week low of $169.21 and a 52 week 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 stock has a fifty day simple moving average of $212.98 and a two-hundred day simple moving average of $228.83.
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, topping the consensus estimate of $1.62 by $0.03. The business had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. Apple's quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the company posted $1.53 earnings per share. As a group, analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
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. This is a boost from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.51%. Apple's dividend payout ratio (DPR) is 15.87%.
Apple declared that its board has initiated a share buyback plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in shares. This repurchase authorization allows the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.
Insider Activity
In other news, CFO Kevan Parekh sold 4,570 shares of the firm'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 completion of the sale, the chief financial officer now owns 4,569 shares of the company's stock, valued at approximately $941,214. This trade represents a 50.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Jeffrey E. Williams sold 35,493 shares of the business'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 transaction, the chief operating officer now directly owns 390,059 shares in the company, valued at $87,377,116.59. The trade was a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 187,021 shares of company stock worth $41,760,140. Corporate insiders own 0.06% of the company's stock.
Apple Company Profile
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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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