Antonelli Financial Advisors LLC purchased a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 65,804 shares of the iPhone maker's stock, valued at approximately $14,617,000. Apple makes up about 11.8% of Antonelli Financial Advisors LLC's investment portfolio, making the stock its 3rd largest holding.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Apple in the 4th quarter worth $46,868,648,000. GAMMA Investing LLC lifted its position in Apple by 25,934.1% during the 1st quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker's stock valued at $133,425,490,000 after acquiring an additional 59,835,676 shares during the period. Vanguard Group Inc. increased its stake in Apple by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock valued at $349,532,608,000 after purchasing an additional 49,168,843 shares in the last quarter. Proficio Capital Partners LLC grew its stake in shares of Apple by 23,555.4% in the fourth quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock worth $5,272,653,000 after acquiring an additional 20,966,232 shares during the period. Finally, Northern Trust Corp grew its position in 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 period. Institutional investors and hedge funds own 67.73% of the company's stock.
Insiders Place Their Bets
In related news, insider Chris Kondo sold 4,486 shares of the company'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 directly owned 15,533 shares in the company, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.06% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the stock. Evercore ISI boosted their target price on shares of Apple to $250.00 and gave the stock a "buy" rating in a report on Friday, June 6th. KeyCorp upgraded Apple from an "underweight" rating to a "sector weight" rating in a report on Monday, April 14th. Raymond James Financial restated an "outperform" rating and issued a $240.00 price objective (up from $230.00) on shares of Apple in a report on Friday. Monness Crespi & Hardt lifted their target price on Apple from $245.00 to $270.00 and gave the company a "buy" rating in a research report on Friday. Finally, Citigroup boosted their target price on Apple from $240.00 to $245.00 and gave the stock a "buy" rating in a research note on Friday. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Apple currently has a consensus rating of "Moderate Buy" and an average target price of $237.25.
View Our Latest Report on Apple
Apple Price Performance
NASDAQ AAPL traded up $0.97 on Monday, hitting $203.35. 74,983,799 shares of the company's stock were exchanged, compared to its average volume of 57,129,035. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The stock has a market cap of $3.04 trillion, a price-to-earnings ratio of 30.86, a P/E/G ratio of 2.20 and a beta of 1.16. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The stock has a 50-day moving average of $205.37 and a 200-day moving average of $213.50.
Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.43 by $0.14. The company had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%. The firm's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the business posted $1.40 EPS. Analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.
Apple declared that its board has initiated a share buyback program 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 programs are usually an indication that the company's board of directors believes its shares are undervalued.
Apple Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, August 11th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Monday, August 11th. Apple's payout ratio is currently 15.78%.
About Apple
(
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
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