Angeles Investment Advisors LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 13.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,142 shares of the iPhone maker's stock after selling 3,178 shares during the period. Apple accounts for about 0.2% of Angeles Investment Advisors LLC's investment portfolio, making the stock its 22nd largest position. Angeles Investment Advisors LLC's holdings in Apple were worth $5,044,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. O Connor Financial Group LLC lifted its holdings in shares of Apple by 1.2% in the 4th quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker's stock worth $896,000 after acquiring an additional 41 shares during the last quarter. Menard Financial Group LLC lifted its stake in Apple by 0.4% in the third quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker's stock worth $2,848,000 after purchasing an additional 48 shares during the last quarter. Hanseatic Management Services Inc. boosted its position in shares of Apple by 1.3% during the fourth quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker's stock valued at $945,000 after buying an additional 48 shares during the period. Family Capital Management Inc. boosted its position in shares of Apple by 0.3% during the fourth quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock valued at $4,235,000 after buying an additional 48 shares during the period. Finally, Farmers & Merchants Trust Co of Chambersburg PA raised its holdings in shares of Apple by 0.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock worth $4,178,000 after buying an additional 48 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.
Apple Stock Performance
Apple stock traded down $0.54 during mid-day trading on Thursday, reaching $202.28. 29,288,934 shares of the company traded hands, compared to its average volume of 56,013,061. The firm's fifty day moving average is $201.99 and its two-hundred day moving average is $224.54. The company has a market capitalization of $3.02 trillion, a price-to-earnings ratio of 32.12, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. 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 released its 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 160.83% and a net margin of 24.30%. The firm had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. During the same period in the prior year, the firm earned $1.53 EPS. The firm's revenue was up 5.1% on a year-over-year basis. On average, 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 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 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Monday, May 12th. This is a boost from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio (DPR) is 16.20%.
Apple announced that its Board of Directors has approved a stock repurchase program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board believes its shares are undervalued.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on AAPL shares. The Goldman Sachs Group restated a "buy" rating on shares of Apple in a report on Wednesday, May 21st. Needham & Company LLC reissued a "hold" rating and set a $225.00 target price on shares of Apple in a research note on Wednesday. Barclays reduced their price target on shares of Apple from $197.00 to $173.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 30th. Loop Capital decreased their price target on shares of Apple from $230.00 to $215.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. Finally, Citigroup reissued a "cautious" rating on shares of Apple in a research note on Monday, May 5th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $235.80.
Get Our Latest Stock Analysis on Apple
Insider Activity at Apple
In other news, COO Jeffrey E. Williams sold 35,493 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the sale, the chief operating officer now owns 390,059 shares of the company's stock, valued at $87,377,116.59. This trade represents a 8.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider now directly owns 15,533 shares of the company's stock, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,507 shares of company stock worth $42,694,080 over the last three months. Company insiders own 0.06% of the company's stock.
Apple Company Profile
(
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.
See Also
Before you consider Apple, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Apple wasn't on the list.
While Apple currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
