Assetmark Inc. grew its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 0.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,584,301 shares of the iPhone maker's stock after acquiring an additional 22,808 shares during the period. Apple comprises about 1.8% of Assetmark Inc.'s portfolio, making the stock its 9th largest holding. Assetmark Inc.'s holdings in Apple were worth $647,161,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently modified their holdings of the company. Drystone LLC acquired a new position in shares of Apple in the fourth quarter worth $25,000. Life Planning Partners Inc acquired a new position in shares of Apple in the fourth quarter worth $47,000. SPX Gestao de Recursos Ltda acquired a new position in shares of Apple in the third quarter worth $71,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Apple in the third quarter worth $77,000. Finally, Compass Planning Associates Inc acquired a new position in shares of Apple in the fourth quarter worth $96,000. Institutional investors and hedge funds own 67.73% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on the stock. DA Davidson upped their price target on shares of Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Monness Crespi & Hardt dropped their price target on shares of Apple from $260.00 to $245.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Wedbush downgraded shares of Apple from an "outperform" rating to a "neutral" rating in a research note on Friday, May 2nd. Tigress Financial increased their target price on shares of Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a research report on Thursday, April 3rd. Finally, Rosenblatt Securities downgraded shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 target price on the stock. in a research report on Friday, May 2nd. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $235.80.
View Our Latest Stock Analysis on AAPL
Apple Stock Performance
Shares of NASDAQ AAPL traded down $0.88 during mid-day trading on Thursday, hitting $211.45. The company had a trading volume of 43,910,127 shares, compared to its average volume of 55,930,688. 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 business's 50-day simple moving average is $206.60 and its 200-day simple moving average is $226.99. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The firm has a market cap of $3.16 trillion, a P/E ratio of 33.56, a PEG ratio of 2.44 and a beta of 1.27.
Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. The firm had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. The company's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.53 earnings per share. As a group, analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple Increases Dividend
The firm also recently declared 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 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 yield of 0.49%. Apple's dividend payout ratio (DPR) is currently 16.20%.
Apple announced that its board has authorized a stock buyback program 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 programs are typically an indication that the company's management believes its stock is undervalued.
Insiders Place Their Bets
In other 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 transaction of $7,950,786.93. Following the completion of the sale, the chief operating officer now owns 390,059 shares of the company's stock, valued at approximately $87,377,116.59. This trade represents a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Timothy D. Cook sold 108,136 shares of the firm'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 transaction of $24,184,616.40. Following the sale, the chief executive officer now directly owns 3,280,295 shares of the company's stock, valued at approximately $733,637,976.75. The trade was a 3.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,507 shares of company stock worth $42,694,080 over the last quarter. Company insiders own 0.06% of the company's stock.
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.
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