Adams Diversified Equity Fund Inc. lessened its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 5.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 852,600 shares of the iPhone maker's stock after selling 51,600 shares during the period. Apple comprises about 8.1% of Adams Diversified Equity Fund Inc.'s portfolio, making the stock its largest holding. Adams Diversified Equity Fund Inc.'s holdings in Apple were worth $213,508,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. TD Private Client Wealth LLC grew its stake in shares of Apple by 7.5% during the fourth quarter. TD Private Client Wealth LLC now owns 114,912 shares of the iPhone maker's stock worth $28,776,000 after buying an additional 8,023 shares during the last quarter. Gutierrez Wealth Advisory LLC bought a new position in shares of Apple during the fourth quarter worth about $446,000. Goodman Financial Corp acquired a new position in shares of Apple in the fourth quarter worth approximately $2,609,000. Truepoint Inc. increased its position in Apple by 1.2% during the 4th quarter. Truepoint Inc. now owns 18,069 shares of the iPhone maker's stock valued at $4,525,000 after purchasing an additional 216 shares during the period. Finally, Kiker Wealth Management LLC acquired a new position in shares of Apple in the 4th quarter worth approximately $877,000. Institutional investors own 67.73% of the company's stock.
Insider Buying and Selling at Apple
In other news, COO Jeffrey E. Williams sold 35,493 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was 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 owns 390,059 shares of the company's stock, valued at $87,377,116.59. This represents a 8.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 38,822 shares of the company's stock in a transaction on 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 directly owns 179,158 shares in the company, valued at approximately $40,072,269.86. This trade represents a 17.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,507 shares of company stock worth $42,694,080 in the last three months. 0.06% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on AAPL. Evercore ISI raised their price objective on shares of Apple from $260.00 to $275.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 18th. Jefferies Financial Group restated an "underperform" rating and set a $170.62 price target (up previously from $167.88) on shares of Apple in a research note on Friday, May 2nd. UBS Group restated a "buy" rating on shares of Apple in a research note on Sunday. TD Cowen reduced their target price on shares of Apple from $290.00 to $275.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, Citigroup reiterated a "cautious" rating on shares of Apple in a research note on Monday, May 5th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $235.80.
Get Our Latest Analysis on Apple
Apple Stock Performance
NASDAQ:AAPL traded up $1.17 during trading hours on Tuesday, reaching $202.87. The company had a trading volume of 7,999,213 shares, compared to its average volume of 55,960,201. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The firm has a market cap of $3.03 trillion, a PE ratio of 32.20, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27. The business's 50 day moving average price is $202.70 and its 200-day moving average price is $224.84. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88.
Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping the consensus estimate of $1.62 by $0.03. The firm had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%. 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 business earned $1.53 earnings per share. Research analysts forecast that Apple Inc. will post 7.28 EPS for the current year.
Apple announced that its board has initiated a share repurchase plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors 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 issued a $0.26 dividend. This is a boost from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend was Monday, May 12th. Apple's dividend payout ratio is presently 16.20%.
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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