EdgeRock Capital LLC lowered its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 6.9% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,791 shares of the iPhone maker's stock after selling 1,926 shares during the quarter. Apple makes up about 4.1% of EdgeRock Capital LLC's holdings, making the stock its 9th biggest position. EdgeRock Capital LLC's holdings in Apple were worth $5,729,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Apple during the 4th quarter worth $46,868,648,000. GAMMA Investing LLC lifted its position in shares of Apple by 25,934.1% during the first quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker's stock worth $133,425,490,000 after purchasing an additional 59,835,676 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Apple by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock worth $349,532,608,000 after purchasing an additional 49,168,843 shares during the last quarter. Proficio Capital Partners LLC raised its stake in Apple by 23,555.4% during 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 period. Finally, Northern Trust Corp raised its stake in Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after acquiring an additional 20,079,472 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.
Apple Trading Down 0.6%
AAPL opened at $211.16 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. The company has a market cap of $3.15 trillion, a price-to-earnings ratio of 32.89, a price-to-earnings-growth ratio of 2.36 and a beta of 1.20. The firm has a 50 day simple moving average of $203.39 and a 200 day simple moving average of $217.12. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10.
Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 167.24%. The company had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. During the same period last year, the business posted $1.53 earnings per share. The business's revenue for the quarter was up 5.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.
Apple declared that its board has approved a stock repurchase plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.
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 is a boost from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. This represents a $1.04 annualized dividend and a yield of 0.49%. Apple's dividend payout ratio is presently 16.20%.
Insider Buying and Selling at Apple
In other news, insider Chris Kondo sold 4,486 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $208.19, for a total value 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 Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction dated Wednesday, April 23rd. The shares were 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 directly owned 4,569 shares in the company, valued at $941,214. The trade was a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company's stock.
Analyst Ratings Changes
A number of research analysts recently commented on the stock. Morgan Stanley reiterated an "overweight" rating on shares of Apple in a research note on Friday, June 13th. Wedbush reaffirmed an "outperform" rating and issued a $270.00 price objective on shares of Apple in a research note on Wednesday. Evercore ISI lifted their target price on shares of Apple to $250.00 and gave the company a "buy" rating in a research note on Friday, June 6th. The Goldman Sachs Group restated a "buy" rating on shares of Apple in a report on Wednesday, May 21st. Finally, Rosenblatt Securities downgraded shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 target price on the stock. in a report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $235.27.
View Our Latest Report on AAPL
About Apple
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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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