Coordinated Financial Services Inc. Takes $2.47 Million Position in Apple Inc. (NASDAQ:AAPL)

Coordinated Financial Services Inc. bought a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 9,843 shares of the iPhone maker's stock, valued at approximately $2,465,000. Apple comprises 1.9% of Coordinated Financial Services Inc.'s holdings, making the stock its 7th biggest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AAPL. Axis Wealth Partners LLC acquired a new position in shares of Apple in the 4th quarter valued at about $2,600,000. United Community Bank increased its stake in shares of Apple by 3.1% in the 4th quarter. United Community Bank now owns 19,836 shares of the iPhone maker's stock valued at $4,967,000 after purchasing an additional 602 shares in the last quarter. Personal CFO Solutions LLC increased its stake in shares of Apple by 3.4% in the 4th quarter. Personal CFO Solutions LLC now owns 109,617 shares of the iPhone maker's stock valued at $27,450,000 after purchasing an additional 3,588 shares in the last quarter. Strategic Equity Management increased its stake in shares of Apple by 97.5% in the 4th quarter. Strategic Equity Management now owns 3,831 shares of the iPhone maker's stock valued at $959,000 after purchasing an additional 1,891 shares in the last quarter. Finally, Jordan Park Trust Co LLC purchased a new position in shares of Apple in the 4th quarter valued at about $584,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Timothy D. Cook sold 108,136 shares of Apple 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 completion of the transaction, the chief executive officer now directly owns 3,280,295 shares in the company, valued at $733,637,976.75. This trade represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the transaction, the chief financial officer now directly owns 4,569 shares in the company, valued at $941,214. The trade was 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 in the last quarter. Corporate insiders own 0.06% of the company's stock.

Apple Price Performance

Shares of Apple stock traded down $0.19 during trading on Friday, reaching $211.26. The company's stock had a trading volume of 53,614,750 shares, compared to its average volume of 55,997,127. The stock has a market capitalization of $3.16 trillion, a P/E ratio of 33.53, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The stock has a 50-day moving average price of $206.09 and a two-hundred day moving average price of $226.66.

Apple (NASDAQ:AAPL - Get Free Report) last announced 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 firm had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. The company's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.53 EPS. As a group, sell-side analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple announced that its board has authorized a share buyback plan on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were paid a $0.26 dividend. The ex-dividend date was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.49%. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio is 16.20%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on AAPL shares. Morgan Stanley restated an "overweight" rating on shares of Apple in a research note on Monday, May 12th. Maxim Group boosted their price objective on Apple to $215.00 and gave the stock a "hold" rating in a research note on Friday, February 21st. JPMorgan Chase & Co. cut their price objective on Apple from $270.00 to $245.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Tigress Financial boosted their price objective on Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a research note on Thursday, April 3rd. Finally, Wedbush reiterated an "outperform" rating and set a $270.00 price objective on shares of Apple in a research note on Friday. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $235.80.

About Apple

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.