Xponance Inc. grew its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,595,473 shares of the iPhone maker's stock after buying an additional 64,508 shares during the quarter. Apple accounts for 8.2% of Xponance Inc.'s investment portfolio, making the stock its largest position. Xponance Inc.'s holdings in Apple were worth $900,378,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in AAPL. State Street Corp boosted its stake in shares of Apple by 10.6% in the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock worth $136,074,372,000 after acquiring an additional 55,935,105 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in shares of Apple by 23,555.4% in the fourth quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock worth $5,272,653,000 after acquiring an additional 20,966,232 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Apple by 6.5% in the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock worth $77,542,863,000 after acquiring an additional 20,483,787 shares during the last quarter. FMR LLC boosted its stake in shares of Apple by 5.3% in the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock worth $84,779,231,000 after acquiring an additional 18,224,005 shares during the last quarter. Finally, Strategic Financial Concepts LLC boosted its stake in shares of Apple by 25,285.2% in the fourth quarter. Strategic Financial Concepts LLC now owns 9,628,864 shares of the iPhone maker's stock worth $2,411,260,000 after acquiring an additional 9,590,933 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.
Apple Stock Performance
Apple stock traded down $0.94 during mid-day trading on Friday, reaching $199.01. 70,744,759 shares of the company were exchanged, compared to its average volume of 56,229,633. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The firm's 50-day simple moving average is $203.10 and its two-hundred day simple moving average is $225.00. 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 market cap of $2.97 trillion, a PE ratio of 31.59, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27.
Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. Apple had a return on equity of 160.83% and a net margin of 24.30%. The company had revenue of $95.36 billion during 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. Equities analysts predict 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. Stockholders of record on Monday, May 12th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. This is an increase from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. Apple's dividend payout ratio is 16.20%.
Apple announced that its board has approved a share buyback program on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the company. Morgan Stanley reaffirmed an "overweight" rating on shares of Apple in a research note on Monday, May 12th. Scotiabank lowered Apple to a "market perform" rating in a research note on Friday, May 2nd. DA Davidson lifted their target price on Apple from $230.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Rosenblatt Securities downgraded Apple from a "buy" rating to a "neutral" rating and set a $217.00 target price on the stock. in a research report on Friday, May 2nd. Finally, Barclays reduced their target price on Apple from $197.00 to $173.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 30th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Apple presently has an average rating of "Moderate Buy" and an average price target of $235.80.
Read Our Latest Stock Analysis on Apple
Insider Transactions at Apple
In other news, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the transaction, the chief financial officer now directly owns 4,569 shares of the company's stock, valued at approximately $941,214. This represents a 50.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 3,280,295 shares of the company's stock, valued at approximately $733,637,976.75. This trade represents a 3.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 191,507 shares of company stock valued at $42,694,080. Corporate insiders own 0.06% of the company's stock.
About Apple
(
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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