Aviance Capital Partners LLC raised its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 272,983 shares of the iPhone maker's stock after acquiring an additional 7,149 shares during the quarter. Apple comprises approximately 9.4% of Aviance Capital Partners LLC's portfolio, making the stock its biggest holding. Aviance Capital Partners LLC's holdings in Apple were worth $68,360,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Amara Financial LLC. purchased a new position in shares of Apple during the 3rd quarter valued at $288,000. Simmons Bank grew its position in shares of Apple by 1.6% during the 3rd quarter. Simmons Bank now owns 132,641 shares of the iPhone maker's stock valued at $30,905,000 after purchasing an additional 2,086 shares in the last quarter. Safe Harbor Fiduciary LLC purchased a new position in shares of Apple during the 3rd quarter valued at $4,972,000. SYM FINANCIAL Corp grew its position in shares of Apple by 6.3% during the 3rd quarter. SYM FINANCIAL Corp now owns 28,626 shares of the iPhone maker's stock valued at $6,670,000 after purchasing an additional 1,695 shares in the last quarter. Finally, Cardano Risk Management B.V. grew its position in shares of Apple by 2.9% during the 3rd quarter. Cardano Risk Management B.V. now owns 3,723,104 shares of the iPhone maker's stock valued at $876,483,000 after purchasing an additional 103,856 shares in the last quarter. Institutional investors own 67.73% of the company's stock.
Analysts Set New Price Targets
AAPL has been the subject of a number of recent analyst reports. KeyCorp upgraded shares of Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. 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. Evercore ISI upped their target price on shares of Apple from $260.00 to $275.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 18th. The Goldman Sachs Group cut their target price on shares of Apple from $259.00 to $256.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Apple in a research report on Monday, May 12th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Apple has a consensus rating of "Moderate Buy" and a consensus target price of $235.80.
Check Out Our Latest Research Report on AAPL
Apple Trading Down 0.1%
Shares of NASDAQ:AAPL traded down $0.19 during midday trading on Friday, hitting $211.26. 53,614,750 shares of the stock traded hands, compared to its average volume of 55,997,127. The stock has a market capitalization of $3.16 trillion, a PE ratio of 33.53, a P/E/G ratio of 2.44 and a beta of 1.27. The business's 50 day moving average is $206.09 and its two-hundred day moving average is $226.66. 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 Inc. has a one year low of $169.21 and a one year high of $260.10.
Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping 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 company had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. During the same period in the prior year, the firm earned $1.53 earnings per share. Apple's revenue was up 5.1% on a year-over-year basis. As a group, research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.
Apple Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were paid a $0.26 dividend. This is an increase from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Monday, May 12th. Apple's dividend payout ratio is presently 16.20%.
Apple announced that its Board of Directors has authorized a share buyback program on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its shares are undervalued.
Insider Buying and Selling
In other Apple news, CFO Kevan Parekh sold 4,570 shares of the company's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value of $941,420.00. Following the sale, the chief financial officer now owns 4,569 shares in the company, valued at approximately $941,214. This represents a 50.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the sale, the insider now owns 15,533 shares in the company, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,507 shares of company stock valued at $42,694,080 over the last three months. 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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