AmeriServ Wealth Advisors acquired a new stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,956 shares of the iPhone maker's stock, valued at approximately $3,244,000. Apple makes up about 1.8% of AmeriServ Wealth Advisors' holdings, making the stock its 12th biggest holding.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Apple by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock valued at $349,532,608,000 after buying an additional 49,168,843 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Apple by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker's stock worth $84,999,145,000 after purchasing an additional 6,307,413 shares during the last quarter. Norges Bank bought a new stake in shares of Apple in the 4th quarter worth approximately $46,868,648,000. Northern Trust Corp lifted its holdings in shares of Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Apple by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 98,099,411 shares of the iPhone maker's stock worth $24,566,054,000 after purchasing an additional 3,156,680 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.
Insider Buying and Selling
In related news, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the transaction, the chief executive officer now owns 3,280,295 shares in the company, valued at $733,637,976.75. The trade was a 3.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,507 shares of company stock worth $42,694,080 in the last three months. 0.06% of the stock is currently owned by insiders.
Apple Price Performance
Shares of AAPL stock traded up $0.94 during mid-day trading on Wednesday, hitting $196.58. 45,342,877 shares of the stock traded hands, compared to its average volume of 54,338,522. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The firm has a market cap of $2.94 trillion, a price-to-earnings ratio of 30.62, a price-to-earnings-growth ratio of 2.18 and a beta of 1.22. The company's 50-day simple moving average is $202.17 and its 200-day simple moving average is $222.30. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82.
Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.03. Apple had a return on equity of 167.24% and a net margin of 24.30%. The company had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. During the same period last year, the firm earned $1.53 EPS. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.
Apple declared that its Board of Directors has authorized a share repurchase plan on Thursday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its stock is undervalued.
Apple Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.53%. This is a boost 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%.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the company. UBS Group reissued a "buy" rating on shares of Apple in a report on Sunday, June 1st. Needham & Company LLC reissued a "hold" rating on shares of Apple in a report on Tuesday, June 10th. Scotiabank downgraded Apple to a "market perform" rating in a report on Friday, May 2nd. Wedbush reissued an "outperform" rating and issued a $270.00 price target on shares of Apple in a report on Tuesday, June 10th. Finally, Evercore ISI raised their price target on Apple to $250.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Apple currently has a consensus rating of "Moderate Buy" and an average price target of $234.86.
Check Out Our Latest Stock Analysis on AAPL
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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