Apple Inc. (NASDAQ:AAPL) Stake Increased by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI increased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 57.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 931,871 shares of the iPhone maker's stock after purchasing an additional 340,272 shares during the quarter. Apple accounts for 5.6% of Commerzbank Aktiengesellschaft FI's investment portfolio, making the stock its 4th biggest holding. Commerzbank Aktiengesellschaft FI's holdings in Apple were worth $233,359,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp grew its position in shares of Apple by 10.6% in the third 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 period. FMR LLC grew its position in shares of Apple by 5.3% in the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock valued at $84,779,231,000 after purchasing an additional 18,224,005 shares during the period. Geode Capital Management LLC boosted its holdings in Apple by 6.5% in the third 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. boosted its holdings in Apple by 3.3% in the fourth 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 acquiring an additional 3,156,680 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Apple by 1.9% in the third 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 acquiring an additional 1,742,087 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Stock Performance

Shares of NASDAQ AAPL traded down $0.60 during midday trading on Wednesday, hitting $212.33. The company's stock had a trading volume of 49,235,970 shares, compared to its average volume of 56,032,102. The stock has a fifty day moving average price of $207.14 and a 200 day moving average price of $227.09. The firm has a market capitalization of $3.17 trillion, a price-to-earnings ratio of 33.70, a P/E/G ratio of 2.44 and a beta of 1.27. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating the consensus estimate of $1.62 by $0.03. The company 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%. Apple's revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.53 earnings per share. On average, research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple declared that its Board of Directors has approved a stock buyback program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's management believes its shares are undervalued.

Apple Increases Dividend

The business 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 $0.26 dividend. 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 boost from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is currently 16.20%.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the sale, the insider now owns 15,533 shares of the company's stock, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeffrey E. Williams sold 35,493 shares of the company's stock in a transaction 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 directly owns 390,059 shares of the company's stock, valued at $87,377,116.59. This trade represents a 8.34% 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 in the last quarter. Corporate insiders own 0.06% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on AAPL shares. The Goldman Sachs Group reduced their target price on Apple from $259.00 to $256.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Jefferies Financial Group restated an "underperform" rating and set a $170.62 price objective (up previously from $167.88) on shares of Apple in a research note on Friday, May 2nd. Loop Capital reduced their price objective on Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Rosenblatt Securities cut Apple from a "buy" rating to a "neutral" rating and set a $217.00 price objective on the stock. in a research note on Friday, May 2nd. Finally, China Renaissance started coverage on Apple in a research note on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $235.80.

Apple 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.