Resolute Wealth Strategies LLC lessened its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 132,272 shares of the iPhone maker's stock after selling 1,915 shares during the quarter. Apple comprises approximately 17.0% of Resolute Wealth Strategies LLC's investment portfolio, making the stock its biggest holding. Resolute Wealth Strategies LLC's holdings in Apple were worth $33,124,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the stock. State Street Corp boosted its stake 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 purchasing an additional 55,935,105 shares during the last quarter. FMR LLC grew its holdings in Apple by 5.3% during the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock worth $84,779,231,000 after acquiring an additional 18,224,005 shares during the period. Geode Capital Management LLC raised its position 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 valued at $77,542,863,000 after acquiring an additional 20,483,787 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Apple by 6.6% in the 3rd 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 purchasing an additional 5,893,741 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Apple by 1.9% in the 3rd 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 worth $21,335,435,000 after purchasing an additional 1,742,087 shares during the last quarter. 67.73% of the stock is owned by institutional investors.
Apple Stock Performance
NASDAQ AAPL traded down $0.60 during trading on Wednesday, reaching $212.33. 49,235,970 shares of the company's stock were exchanged, compared to its average volume of 56,017,507. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The stock has a market capitalization of $3.17 trillion, a P/E ratio of 33.70, a PEG ratio of 2.44 and a beta of 1.27. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The business has a 50 day moving average price of $207.14 and a 200-day moving average price of $227.09.
Apple (NASDAQ:AAPL - Get Free Report) last issued 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 firm had revenue of $95.36 billion during 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%. The business's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the business posted $1.53 earnings per share. Sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple announced that its board has authorized a share repurchase plan on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board believes its stock is undervalued.
Apple Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 12th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Monday, May 12th. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio (DPR) is 16.20%.
Insider Activity at Apple
In related news, COO Jeffrey E. Williams sold 35,493 shares of the firm's 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of the business's stock in a transaction on Wednesday, April 23rd. The stock was 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 directly owns 4,569 shares in the company, valued at approximately $941,214. This represents a 50.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 187,021 shares of company stock valued at $41,760,140 over the last quarter. 0.06% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Several research firms have weighed in on AAPL. KeyCorp raised Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. Monness Crespi & Hardt cut their price target on shares of Apple from $260.00 to $245.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Bank of America reduced their price objective on shares of Apple from $250.00 to $240.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Redburn Partners set a $230.00 target price on shares of Apple in a research note on Friday, January 31st. Finally, Citigroup reiterated a "cautious" rating on shares of Apple in a report on Monday, May 5th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Apple currently has a consensus rating of "Hold" and a consensus price target of $235.80.
Check Out Our Latest Stock Report on Apple
About Apple
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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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