Callan Family Office LLC Acquires 232,105 Shares of Apple Inc. (NASDAQ:AAPL)

Callan Family Office LLC grew its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 315.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 305,612 shares of the iPhone maker's stock after purchasing an additional 232,105 shares during the quarter. Apple comprises about 4.9% of Callan Family Office LLC's portfolio, making the stock its 2nd biggest holding. Callan Family Office LLC's holdings in Apple were worth $76,531,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. State Street Corp raised its position in Apple by 10.6% during the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock worth $136,074,372,000 after acquiring an additional 55,935,105 shares in the last quarter. FMR LLC grew its position 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 valued at $84,779,231,000 after acquiring an additional 18,224,005 shares during the period. Geode Capital Management LLC increased its stake 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 worth $77,542,863,000 after purchasing an additional 20,483,787 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Apple by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 98,099,411 shares of the iPhone maker's stock valued at $24,566,054,000 after purchasing an additional 3,156,680 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings 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 valued at $21,335,435,000 after purchasing an additional 1,742,087 shares during the period. Institutional investors and hedge funds own 67.73% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. DA Davidson lifted their price target on Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Barclays reduced their target price on Apple from $197.00 to $173.00 and set an "underweight" rating for the company in a research note on Wednesday, April 30th. Oppenheimer lowered Apple from an "outperform" rating to a "market perform" rating in a report on Wednesday, January 29th. TD Cowen cut their price target on Apple from $290.00 to $275.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, Citigroup reaffirmed a "cautious" rating on shares of Apple in a research report on Monday, May 5th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $235.80.

Apple Price Performance

AAPL traded down $0.19 on Friday, hitting $211.26. 53,614,750 shares of the stock were exchanged, compared to its average volume of 55,938,270. The firm has a market capitalization of $3.16 trillion, a price-to-earnings ratio of 33.53, a PEG 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 Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The business has a 50-day moving average of $206.09 and a two-hundred day moving average of $226.68.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating the consensus estimate 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 analysts' expectations of $94.04 billion. During the same period in the previous year, the company earned $1.53 EPS. The business's revenue for the quarter was up 5.1% compared to the same quarter last year. Sell-side analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Increases Dividend

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

Apple announced that its board has authorized a share repurchase plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 108,136 shares of the business's stock in a transaction 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 of the company's stock, valued at $733,637,976.75. This trade represents a 3.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,507 shares of company stock worth $42,694,080 over the last three months. Insiders own 0.06% of the company's stock.

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.