Apple Inc. (NASDAQ:AAPL) Stock Position Increased by DnB Asset Management AS

DnB Asset Management AS boosted its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 6.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,845,123 shares of the iPhone maker's stock after purchasing an additional 225,429 shares during the period. Apple comprises about 4.2% of DnB Asset Management AS's investment portfolio, making the stock its 5th biggest position. DnB Asset Management AS's holdings in Apple were worth $962,896,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in AAPL. O Connor Financial Group LLC grew its stake in Apple by 1.2% in the fourth quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker's stock worth $896,000 after purchasing an additional 41 shares in the last quarter. Menard Financial Group LLC grew 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 in the last quarter. Hanseatic Management Services Inc. grew its stake in Apple by 1.3% in the fourth quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker's stock worth $945,000 after purchasing an additional 48 shares in the last quarter. Family Capital Management Inc. grew its stake in Apple by 0.3% in the fourth quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock worth $4,235,000 after purchasing an additional 48 shares in the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA grew its stake in 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 purchasing an additional 48 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AAPL. DA Davidson increased their price objective on Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Raymond James dropped their target price on Apple from $250.00 to $230.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Monness Crespi & Hardt dropped their target price on Apple from $260.00 to $245.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Loop Capital dropped their target price on Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. Finally, Tigress Financial increased their target price on Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a research report on Thursday, April 3rd. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $235.02.

Insider Activity

In related news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the sale, the insider now directly owns 15,533 shares in the company, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the completion of the sale, the chief financial officer now owns 4,569 shares in the company, valued at approximately $941,214. The trade was a 50.01% 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 ninety days. Company insiders own 0.06% of the company's stock.

Apple Stock Performance

AAPL stock traded up $3.29 during midday trading on Friday, reaching $203.92. The stock had a trading volume of 46,477,335 shares, compared to its average volume of 56,154,463. The stock has a market cap of $3.05 trillion, a PE ratio of 32.37, a P/E/G ratio of 2.44 and a beta of 1.22. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The firm has a fifty day simple moving average of $201.17 and a two-hundred day simple moving average of $224.15. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. The company had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%. The firm's quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the business posted $1.53 EPS. As a group, equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.51%. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio (DPR) is presently 16.20%.

Apple declared that its Board of Directors has authorized a stock buyback program on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors 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.