Apple Inc. (NASDAQ:AAPL) is Annex Advisory Services LLC's 10th Largest Position

Annex Advisory Services LLC boosted its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 14.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 391,808 shares of the iPhone maker's stock after purchasing an additional 48,783 shares during the quarter. Apple comprises approximately 2.5% of Annex Advisory Services LLC's portfolio, making the stock its 10th biggest holding. Annex Advisory Services LLC's holdings in Apple were worth $87,032,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of AAPL. OneAscent Wealth Management LLC lifted its holdings in shares of Apple by 4.6% in the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock worth $2,337,000 after acquiring an additional 409 shares during the last quarter. TruWealth Advisors LLC raised its position in Apple by 2.8% in the 1st quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker's stock worth $42,045,000 after purchasing an additional 5,120 shares during the period. Allstate Corp lifted its stake in Apple by 3,368.2% in the fourth quarter. Allstate Corp now owns 451,489 shares of the iPhone maker's stock worth $113,062,000 after purchasing an additional 438,471 shares during the last quarter. Vinva Investment Management Ltd boosted its position in Apple by 12.4% during the fourth quarter. Vinva Investment Management Ltd now owns 764,075 shares of the iPhone maker's stock valued at $192,700,000 after buying an additional 83,997 shares during the period. Finally, Tradewinds Capital Management LLC boosted its position in Apple by 9.2% during the fourth quarter. Tradewinds Capital Management LLC now owns 21,198 shares of the iPhone maker's stock valued at $5,308,000 after buying an additional 1,779 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Apple Stock Up 0.4%

NASDAQ:AAPL traded up $0.92 on Friday, reaching $213.36. 34,955,836 shares of the stock traded hands, compared to its average volume of 53,594,994. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $3.19 trillion, a price-to-earnings ratio of 33.23, a PEG ratio of 2.38 and a beta of 1.20. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The company's fifty day simple moving average is $203.35 and its 200 day simple moving average is $218.66.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. The firm had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The business's revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.53 earnings per share. Equities analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple announced that its Board of Directors has approved a share 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 repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

Apple Increases Dividend

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

Insiders Place Their Bets

In other news, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider directly owned 15,533 shares of the company's stock, valued at $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value of $941,420.00. Following the sale, the chief financial officer directly owned 4,569 shares in the company, 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. 0.06% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AAPL shares. Scotiabank lowered Apple to a "market perform" rating in a research report on Friday, May 2nd. Bank of America reissued a "buy" rating and set a $235.00 price objective on shares of Apple in a research note on Tuesday, June 10th. 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 note on Friday, May 2nd. Morgan Stanley reissued an "overweight" rating on shares of Apple in a research report on Friday, June 13th. Finally, DA Davidson raised their price target on shares of Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $234.95.

Apple Company Profile

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.