Apple Inc. (NASDAQ:AAPL) is Freestone Capital Holdings LLC's 6th Largest Position

Freestone Capital Holdings LLC raised its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 6.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 473,443 shares of the iPhone maker's stock after acquiring an additional 29,750 shares during the period. Apple makes up about 4.1% of Freestone Capital Holdings LLC's portfolio, making the stock its 6th biggest holding. Freestone Capital Holdings LLC's holdings in Apple were worth $118,560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Drystone LLC acquired a new stake in shares of Apple in the 4th quarter valued at $25,000. SPX Gestao de Recursos Ltda bought a new stake in shares of Apple during the 3rd quarter worth $71,000. Teachers Insurance & Annuity Association of America acquired a new stake in Apple in the third quarter valued at about $77,000. Compass Planning Associates Inc bought a new position in Apple in the fourth quarter valued at about $96,000. Finally, Collier Financial acquired a new position in Apple during the fourth quarter worth about $140,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Trading Down 0.1%

Shares of Apple stock traded down $0.19 on Friday, hitting $211.26. 53,614,750 shares of the company's stock traded hands, compared to its average volume of 55,938,270. The company has a fifty day moving average of $206.09 and a two-hundred day moving average of $226.68. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company has a market capitalization of $3.16 trillion, a price-to-earnings ratio of 33.53, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%. The company's revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.53 earnings per share. As a group, sell-side analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is presently 16.20%.

Apple announced that its board has approved a stock repurchase program on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of research analyst reports. Evercore ISI raised their price target on shares of Apple from $260.00 to $275.00 and gave the company an "outperform" rating in a research note on Tuesday, March 18th. Wedbush reaffirmed an "outperform" rating and set a $270.00 target price on shares of Apple in a research note on Friday. The Goldman Sachs Group dropped their price target on Apple from $259.00 to $256.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Redburn Partners set a $230.00 price objective on Apple in a report on Friday, January 31st. Finally, KeyCorp raised Apple from an "underweight" rating to a "sector weight" rating in a report on Monday, April 14th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $235.80.

Insider Buying and Selling

In other news, CFO Kevan Parekh sold 4,570 shares of the business's stock in a transaction that occurred 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 owns 4,569 shares in the company, valued at $941,214. The trade was a 50.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 108,136 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the transaction, the chief executive officer now directly owns 3,280,295 shares in the company, valued at $733,637,976.75. The trade was a 3.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,507 shares of company stock valued at $42,694,080 over the last ninety days. 0.06% of the stock is owned by corporate insiders.

Apple Company Profile

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.