Optas LLC Has $16.73 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Optas LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 6.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,303 shares of the iPhone maker's stock after selling 4,922 shares during the quarter. Apple accounts for about 2.9% of Optas LLC's holdings, making the stock its 6th biggest position. Optas LLC's holdings in Apple were worth $16,727,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Drystone LLC purchased a new stake in Apple in the 4th quarter worth approximately $25,000. Conquis Financial LLC acquired a new position in shares of Apple in the 4th quarter valued at $63,000. LSV Asset Management acquired a new position in shares of Apple in the 4th quarter valued at $65,000. Pillar Financial Advisors LLC purchased a new position in shares of Apple in the 4th quarter valued at $82,000. Finally, Compass Planning Associates Inc purchased a new position in shares of Apple in the 4th quarter valued at $96,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Performance

AAPL traded up $1.13 during trading on Monday, hitting $212.31. The stock had a trading volume of 40,713,768 shares, compared to its average volume of 53,135,758. The company has a 50 day moving average price of $204.57 and a 200-day moving average price of $215.41. The firm has a market cap of $3.17 trillion, a price-to-earnings ratio of 33.05, a P/E/G ratio of 2.36 and a beta of 1.20. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78.

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

Apple announced that its board 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 purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its stock is undervalued.

Apple Increases Dividend

The business 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 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Monday, May 12th. This is a boost from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is presently 16.20%.

Insiders Place Their Bets

In other Apple news, CFO Kevan Parekh sold 4,570 shares of the company's 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 sale, the chief financial officer owned 4,569 shares in the company, valued at approximately $941,214. The trade was a 50.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Chris Kondo sold 4,486 shares of the company's 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 completion of the sale, the insider owned 15,533 shares in the company, valued at $3,233,815.27. This trade represents a 22.41% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.06% of the company's stock.

Analyst Ratings Changes

AAPL has been the topic of a number of research analyst reports. Evercore ISI increased their price objective on shares of Apple to $250.00 and gave the company a "buy" rating in a research note on Friday, June 6th. China Renaissance assumed coverage on shares of Apple in a report on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 price objective for the company. Citigroup reiterated a "buy" rating on shares of Apple in a research report on Tuesday, June 10th. Bank of America reiterated a "buy" rating and issued a $235.00 price target on shares of Apple in a research report on Tuesday, June 10th. Finally, KeyCorp raised Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $235.11.

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.