180 Wealth Advisors LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 103,907 shares of the iPhone maker's stock after selling 2,946 shares during the period. Apple comprises 3.7% of 180 Wealth Advisors LLC's portfolio, making the stock its 2nd largest position. 180 Wealth Advisors LLC's holdings in Apple were worth $23,081,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of AAPL. Vanguard Group Inc. grew its holdings in Apple by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock worth $349,532,608,000 after purchasing an additional 49,168,843 shares during the period. Geode Capital Management LLC grew its holdings in shares of Apple by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker's stock valued at $84,999,145,000 after buying an additional 6,307,413 shares during the last quarter. Norges Bank purchased a new stake in shares of Apple during the fourth quarter valued at approximately $46,868,648,000. Northern Trust Corp grew its holdings in shares of Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after buying an additional 20,079,472 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Apple by 14.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker's stock valued at $26,220,566,000 after purchasing an additional 13,137,968 shares during the period. 67.73% of the stock is owned by institutional investors.
Insider Buying and Selling at Apple
In related news, insider Chris Kondo sold 4,486 shares of the business'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 transaction, the insider now directly owns 15,533 shares in the company, valued at $3,233,815.27. The trade was a 22.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of the business's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the transaction, the chief financial officer now owns 4,569 shares of the company's stock, valued at approximately $941,214. This represents a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,507 shares of company stock worth $42,694,080. Company insiders own 0.06% of the company's stock.
Analyst Ratings Changes
Several research firms have weighed in on AAPL. Jefferies Financial Group reiterated an "underperform" rating and issued a $170.62 price target (up from $167.88) on shares of Apple in a research report on Friday, May 2nd. Morgan Stanley reaffirmed an "overweight" rating on shares of Apple in a research note on Friday, June 13th. Loop Capital dropped their price objective 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. UBS Group reissued a "buy" rating on shares of Apple in a research note on Sunday, June 1st. Finally, Wedbush restated an "outperform" rating and issued a $270.00 target price on shares of Apple in a report on Tuesday, June 10th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $234.39.
View Our Latest Analysis on AAPL
Apple Trading Up 0.0%
NASDAQ:AAPL opened at $201.08 on Friday. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. The firm has a market cap of $3.00 trillion, a P/E ratio of 31.32, a P/E/G ratio of 2.24 and a beta of 1.22. The firm has a 50-day simple moving average of $202.61 and a 200-day simple moving average of $220.21.
Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. During the same quarter in the previous year, the firm earned $1.53 EPS. The company's quarterly revenue was up 5.1% compared to the same quarter last year. Equities analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple announced that its board has initiated a share buyback program on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.
Apple Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a 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 currently 16.20%.
Apple Profile
(
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.
Further Reading
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).
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