Apple Inc. (NASDAQ:AAPL) is Affinity Capital Advisors LLC's 5th Largest Position

Affinity Capital Advisors LLC boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 4.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 165,160 shares of the iPhone maker's stock after acquiring an additional 7,645 shares during the period. Apple comprises 7.2% of Affinity Capital Advisors LLC's portfolio, making the stock its 5th largest holding. Affinity Capital Advisors LLC's holdings in Apple were worth $36,687,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position 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 worth $349,532,608,000 after purchasing an additional 49,168,843 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Apple by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker's stock valued at $84,999,145,000 after purchasing an additional 6,307,413 shares in the last quarter. Norges Bank acquired a new stake in shares of Apple during the 4th quarter worth about $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 worth $42,918,365,000 after buying an additional 20,079,472 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of 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 worth $26,220,566,000 after buying an additional 13,137,968 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Analyst Ratings Changes

AAPL has been the subject of several analyst reports. Bank of America reiterated a "buy" rating and issued a $235.00 target price on shares of Apple in a research note on Tuesday, June 10th. Evercore ISI increased their price objective on shares of Apple to $250.00 and gave the stock a "buy" rating in a report on Friday, June 6th. TD Cowen decreased their target price on shares of Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Morgan Stanley reaffirmed an "overweight" rating on shares of Apple in a research report on Friday, June 13th. Finally, Barclays set a $173.00 price target on shares of Apple and gave the company an "underweight" rating in a report on Tuesday, June 24th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Apple has an average rating of "Moderate Buy" and an average target price of $235.11.

Insider Buying and Selling

In other news, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction that occurred 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 sale, the insider directly owned 15,533 shares of the company's stock, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction that occurred 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 owned 4,569 shares of the company's stock, valued at $941,214. This trade represents a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company's stock.

Apple Stock Up 0.6%

Shares of NASDAQ:AAPL traded up $1.16 during midday trading on Friday, reaching $211.18. The company had a trading volume of 48,647,642 shares, compared to its average volume of 53,145,744. The stock's fifty day moving average price is $204.57 and its 200-day moving average price is $215.85. The stock has a market capitalization of $3.15 trillion, a P/E ratio of 32.89, a PEG ratio of 2.36 and a beta of 1.20. 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 current ratio of 0.82 and a quick ratio of 0.78.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating the consensus estimate 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 167.24%. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.53 earnings per share. Equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. Apple's payout ratio is currently 16.20%.

Apple declared that its board has initiated a stock buyback program on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

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.