Baer Investment Advisory LLC bought a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 11,897 shares of the iPhone maker's stock, valued at approximately $2,979,000. Apple accounts for 6.2% of Baer Investment Advisory LLC's holdings, making the stock its 7th largest holding.
Other hedge funds have also recently added to or reduced their stakes in the company. Regent Peak Wealth Advisors LLC boosted its holdings in Apple by 0.9% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 111,858 shares of the iPhone maker's stock worth $28,012,000 after purchasing an additional 1,050 shares during the last quarter. CJM Wealth Advisers Ltd. lifted its holdings in Apple by 15.7% during the 4th quarter. CJM Wealth Advisers Ltd. now owns 23,741 shares of the iPhone maker's stock worth $5,945,000 after purchasing an additional 3,226 shares in the last quarter. Baker Tilly Wealth Management LLC raised its stake in Apple by 3.2% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 25,382 shares of the iPhone maker's stock valued at $6,356,000 after purchasing an additional 783 shares in the last quarter. ORG Partners LLC grew its stake in Apple by 6.4% in the 4th quarter. ORG Partners LLC now owns 47,326 shares of the iPhone maker's stock worth $11,857,000 after buying an additional 2,847 shares in the last quarter. Finally, Ridgewood Investments LLC grew its position in Apple by 31.7% in the fourth quarter. Ridgewood Investments LLC now owns 3,852 shares of the iPhone maker's stock worth $965,000 after acquiring an additional 927 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.
Apple Stock Performance
Apple stock traded up $4.42 during trading on Friday, reaching $201.00. The company had a trading volume of 95,792,149 shares, compared to its average volume of 54,505,078. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $3.00 trillion, a price-to-earnings ratio of 31.31, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. The firm's 50-day simple moving average is $202.29 and its 200 day simple moving average is $222.00.
Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results 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 company had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. 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 EPS. Sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple declared that its Board of Directors has approved a stock buyback plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.
Apple Increases Dividend
The business 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 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is 16.20%.
Insider Buying and Selling at Apple
In related news, SVP Katherine L. Adams sold 38,822 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total value of $8,683,316.74. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total value of $7,950,786.93. Following the transaction, the chief operating officer now directly owns 390,059 shares in the company, valued at approximately $87,377,116.59. This represents a 8.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,507 shares of company stock valued at $42,694,080 in the last 90 days. Insiders own 0.06% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the company. Wedbush reaffirmed an "outperform" rating and issued a $270.00 target price on shares of Apple in a research note on Tuesday, June 10th. Barclays reduced their price target on Apple from $197.00 to $173.00 and set an "underweight" rating on the stock in a report on Wednesday, April 30th. Morgan Stanley reissued an "overweight" rating on shares of Apple in a research report on Friday, June 13th. Evercore ISI increased their target price on Apple to $250.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Finally, Loop Capital decreased their price target on shares of Apple from $230.00 to $215.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $234.86.
Check Out Our Latest Stock Report on Apple
Apple Company Profile
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Free Report)
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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