111 Capital Takes Position in Apple Inc. (NASDAQ:AAPL)

111 Capital acquired a new position in Apple Inc. (NASDAQ:AAPL - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 83,402 shares of the iPhone maker's stock, valued at approximately $20,886,000. Apple makes up 4.4% of 111 Capital's investment portfolio, making the stock its 3rd biggest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. OneAscent Wealth Management LLC boosted its stake in Apple by 4.6% during the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock valued at $2,337,000 after purchasing an additional 409 shares during the last quarter. Allstate Corp boosted its stake in Apple by 3,368.2% during the 4th quarter. Allstate Corp now owns 451,489 shares of the iPhone maker's stock valued at $113,062,000 after purchasing an additional 438,471 shares during the last quarter. Vinva Investment Management Ltd boosted its stake in Apple by 12.4% during the 4th quarter. Vinva Investment Management Ltd now owns 764,075 shares of the iPhone maker's stock valued at $192,700,000 after purchasing an additional 83,997 shares during the last quarter. Tradewinds Capital Management LLC boosted its stake in Apple by 9.2% during the 4th quarter. Tradewinds Capital Management LLC now owns 21,198 shares of the iPhone maker's stock valued at $5,308,000 after purchasing an additional 1,779 shares during the last quarter. Finally, Berkshire Bank boosted its stake in Apple by 2.7% during the 4th quarter. Berkshire Bank now owns 89,580 shares of the iPhone maker's stock valued at $22,433,000 after purchasing an additional 2,360 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 108,136 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the transaction, the chief executive officer now directly owns 3,280,295 shares in the company, valued at $733,637,976.75. The trade was a 3.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kevan Parekh sold 4,570 shares of the business's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the transaction, the chief financial officer now owns 4,569 shares in the company, valued at approximately $941,214. This trade represents a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,507 shares of company stock worth $42,694,080 over the last ninety days. 0.06% of the stock is currently owned by company insiders.

Apple Stock Performance

AAPL traded down $1.20 on Tuesday, reaching $200.30. The company had a trading volume of 53,951,325 shares, compared to its average volume of 53,512,318. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The stock has a market capitalization of $2.99 trillion, a PE ratio of 31.20, a P/E/G ratio of 2.25 and a beta of 1.22. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. The stock has a 50-day moving average price of $202.33 and a 200-day moving average price of $221.12.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 167.24%. The business had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. During the same period in the prior year, the company earned $1.53 earnings per share. The business's revenue was up 5.1% compared to the same quarter last year. As a group, research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple declared that its Board of Directors has initiated a share buyback plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. This is a boost from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. Apple's dividend payout ratio is presently 16.20%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AAPL. Bank of America restated a "buy" rating and issued a $235.00 price target on shares of Apple in a research note on Tuesday, June 10th. Morgan Stanley restated an "overweight" rating on shares of Apple in a research note on Friday, June 13th. Wedbush reiterated an "outperform" rating and set a $270.00 target price on shares of Apple in a research report on Tuesday, June 10th. KeyCorp upgraded Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. Finally, TD Cowen lowered their target price on Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $234.86.

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.