Apple Inc. $AAPL Shares Acquired by Stratos Investment Management LLC

Stratos Investment Management LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 11.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 115,275 shares of the iPhone maker's stock after buying an additional 11,506 shares during the period. Apple makes up approximately 1.4% of Stratos Investment Management LLC's investment portfolio, making the stock its 20th biggest holding. Stratos Investment Management LLC's holdings in Apple were worth $25,606,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in AAPL. Conquis Financial LLC purchased a new position in shares of Apple during the fourth quarter worth $63,000. LSV Asset Management purchased a new position in Apple in the fourth quarter valued at $65,000. Elite Financial Inc. purchased a new position in Apple in the first quarter valued at $58,000. Pillar Financial Advisors LLC purchased a new stake in shares of Apple during the fourth quarter worth about $82,000. Finally, Compass Planning Associates Inc purchased a new stake in shares of Apple during the fourth quarter worth about $96,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Performance

NASDAQ:AAPL opened at $229.31 on Wednesday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The firm has a 50-day moving average price of $213.77 and a two-hundred day moving average price of $212.93. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a market capitalization of $3.40 trillion, a P/E ratio of 34.80, a price-to-earnings-growth ratio of 2.37 and a beta of 1.16.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company had revenue of $94.04 billion for the quarter, compared to analysts' expectations of $88.64 billion. During the same period last year, the company earned $1.40 EPS. The firm's revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Monday, August 11th. Apple's payout ratio is 15.78%.

Apple announced that its Board of Directors has initiated 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 buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on AAPL shares. Evercore ISI restated an "outperform" rating and set a $250.00 price target on shares of Apple in a research report on Wednesday, August 13th. Raymond James Financial reiterated an "outperform" rating and issued a $240.00 target price (up from $230.00) on shares of Apple in a report on Friday, August 1st. The Goldman Sachs Group reissued a "buy" rating on shares of Apple in a research note on Wednesday, May 21st. Barclays upped their target price on shares of Apple from $173.00 to $180.00 and gave the stock an "underweight" rating in a research note on Friday, August 1st. Finally, BMO Capital Markets reissued a "buy" rating on shares of Apple in a research report on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $237.01.

Insiders Place Their Bets

In other news, SVP Deirdre O'brien sold 34,821 shares of Apple stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the sale, the senior vice president owned 136,687 shares in the company, valued at $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.06% of the stock is currently owned by company insiders.

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.

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