Sava Infond d.o.o. acquired a new position in Apple Inc. (NASDAQ:AAPL - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 110,470 shares of the iPhone maker's stock, valued at approximately $27,664,000. Apple makes up about 4.9% of Sava Infond d.o.o.'s investment portfolio, making the stock its 4th biggest holding.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Providence Capital Advisors LLC boosted its position in Apple by 1.2% during the 3rd quarter. Providence Capital Advisors LLC now owns 67,598 shares of the iPhone maker's stock valued at $15,750,000 after acquiring an additional 770 shares in the last quarter. MayTech Global Investments LLC boosted its position in Apple by 13.0% during the 3rd quarter. MayTech Global Investments LLC now owns 194,132 shares of the iPhone maker's stock valued at $45,233,000 after acquiring an additional 22,284 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Apple by 4.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,039,914 shares of the iPhone maker's stock valued at $1,873,300,000 after acquiring an additional 308,469 shares in the last quarter. Fiduciary Trust Co boosted its position in Apple by 0.5% during the 3rd quarter. Fiduciary Trust Co now owns 1,602,167 shares of the iPhone maker's stock valued at $373,305,000 after acquiring an additional 8,651 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its position in Apple by 15.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 4,080,886 shares of the iPhone maker's stock valued at $950,846,000 after acquiring an additional 556,375 shares in the last quarter. Institutional investors own 67.73% of the company's stock.
Apple Stock Performance
Shares of NASDAQ AAPL traded up $3.29 during trading on Friday, reaching $203.92. 46,477,335 shares of the company traded hands, compared to its average volume of 56,154,463. The firm's fifty day simple moving average is $201.17 and its 200 day simple moving average is $224.15. The stock has a market cap of $3.05 trillion, a P/E ratio of 32.37, a PEG ratio of 2.44 and a beta of 1.22. Apple Inc. has a 12-month low of $169.21 and a 12-month 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 released 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 $1.62 by $0.03. The business had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%. The company's revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the business posted $1.53 EPS. As a group, research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple announced that its board has initiated a stock buyback program on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its stock is undervalued.
Apple Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a dividend of $0.26 per share. The ex-dividend date was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.51%. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio (DPR) is presently 16.20%.
Insider Activity at Apple
In other Apple news, insider Chris Kondo sold 4,486 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction 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 represents a 22.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction that occurred 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 owns 3,280,295 shares in the company, valued at $733,637,976.75. This represents 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 in the last 90 days. Corporate insiders own 0.06% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Apple from $270.00 to $245.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Loop Capital lowered their price objective on Apple from $230.00 to $215.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Wedbush reissued an "outperform" rating and issued a $270.00 price objective on shares of Apple in a research report on Friday, May 16th. KeyCorp raised Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. Finally, Maxim Group raised their price objective on Apple to $215.00 and gave the stock a "hold" rating in a research report on Friday, February 21st. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have assigned 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 an average price target of $235.02.
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About Apple
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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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