Drum Hill Capital LLC Invests $1.02 Million in Apple Inc. (NASDAQ:AAPL)

Drum Hill Capital LLC bought a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 4,075 shares of the iPhone maker's stock, valued at approximately $1,020,000. Apple makes up approximately 1.3% of Drum Hill Capital LLC's portfolio, making the stock its 23rd biggest position.

A number of other institutional investors have also recently modified their holdings of AAPL. Drystone LLC acquired a new position in Apple in the 4th quarter valued at $25,000. Life Planning Partners Inc purchased a new stake in shares of Apple during the fourth quarter worth $47,000. SPX Gestao de Recursos Ltda acquired a new stake in shares of Apple in the third quarter valued at about $71,000. Teachers Insurance & Annuity Association of America acquired a new position in Apple during the third quarter worth about $77,000. Finally, Compass Planning Associates Inc purchased a new stake in Apple during the 4th quarter valued at about $96,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Up 0.4 %

NASDAQ:AAPL traded up $0.82 during mid-day trading on Thursday, hitting $213.32. The stock had a trading volume of 55,559,513 shares, compared to its average volume of 56,562,730. Apple Inc. has a twelve month low of $169.11 and a twelve month high of $260.10. The stock has a 50-day simple moving average of $213.66 and a two-hundred day simple moving average of $228.95. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $3.20 trillion, a PE ratio of 33.86, a PEG ratio of 2.44 and a beta of 1.26.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates of $1.61 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. During the same period last year, the business posted $1.53 EPS. On average, equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 12th will be given a dividend of $0.26 per share. This is a boost from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. Apple's dividend payout ratio is currently 15.87%.

Insider Activity

In other Apple news, SVP Katherine L. Adams sold 38,822 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the sale, the senior vice president now owns 179,158 shares of the company's stock, valued at approximately $40,072,269.86. This trade represents a 17.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the chief financial officer now owns 4,569 shares of the company's stock, valued at $941,214. This represents a 50.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 187,021 shares of company stock worth $41,760,140. 0.06% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on AAPL. Maxim Group boosted their target price on Apple to $215.00 and gave the stock a "hold" rating in a report on Friday, February 21st. Rosenblatt Securities reaffirmed a "buy" rating and issued a $263.00 target price on shares of Apple in a research note on Thursday. China Renaissance assumed coverage on shares of Apple in a research report on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price target on the stock. DA Davidson cut their price objective on shares of Apple from $290.00 to $230.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Argus upgraded shares of Apple to a "strong-buy" rating in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $232.63.

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.