Hughes Financial Services LLC acquired a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,908 shares of the iPhone maker's stock, valued at approximately $1,730,000. Apple comprises about 0.4% of Hughes Financial Services LLC's portfolio, making the stock its 29th biggest holding.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp boosted its stake in Apple by 10.6% during the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock worth $136,074,372,000 after acquiring an additional 55,935,105 shares during the last quarter. FMR LLC lifted its stake in Apple by 5.3% in the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock valued at $84,779,231,000 after buying an additional 18,224,005 shares in the last quarter. Geode Capital Management LLC lifted its stake in Apple by 6.5% in the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock valued at $77,542,863,000 after buying an additional 20,483,787 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Apple by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 98,099,411 shares of the iPhone maker's stock valued at $24,566,054,000 after buying an additional 3,156,680 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Apple by 1.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 91,568,390 shares of the iPhone maker's stock valued at $21,335,435,000 after buying an additional 1,742,087 shares in the last quarter. Institutional investors own 67.73% of the company's stock.
Apple Price Performance
Shares of AAPL opened at $195.27 on Friday. The company has a market cap of $2.92 trillion, a price-to-earnings ratio of 31.00, a PEG ratio of 2.44 and a beta of 1.27. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company's fifty day simple moving average is $205.04 and its 200 day simple moving average is $225.92. 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 issued its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. The business had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.53 earnings per share. On average, research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple declared that its board has approved a share buyback program on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.
Apple Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.53%. This is an increase from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. Apple's payout ratio is presently 16.20%.
Insider Buying and Selling
In other Apple news, CFO Kevan Parekh sold 4,570 shares of Apple 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 directly owns 4,569 shares of the company's stock, valued at $941,214. The trade was a 50.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 38,822 shares of Apple stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the transaction, the senior vice president now directly 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 191,507 shares of company stock worth $42,694,080. Insiders own 0.06% of the company's stock.
Analyst Ratings Changes
A number of brokerages have weighed in on AAPL. Tigress Financial lifted their price target on shares of Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a research note on Thursday, April 3rd. Monness Crespi & Hardt cut their price target on shares of Apple from $260.00 to $245.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Maxim Group lifted their price target on shares of Apple to $215.00 and gave the company a "hold" rating in a research note on Friday, February 21st. China Renaissance began coverage on shares of Apple in a research note on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 price target on the stock. Finally, Rosenblatt Securities lowered shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 price target on the stock. in a research note on Friday, May 2nd. Four research 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $235.80.
Check Out Our Latest Stock Report on Apple
About Apple
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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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