Amalgamated Bank Has $715.20 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Amalgamated Bank increased its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,219,742 shares of the iPhone maker's stock after acquiring an additional 84,563 shares during the period. Apple comprises approximately 6.1% of Amalgamated Bank's investment portfolio, making the stock its largest holding. Amalgamated Bank's holdings in Apple were worth $715,201,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Conquis Financial LLC bought a new stake in Apple in the fourth quarter valued at approximately $63,000. LSV Asset Management bought a new stake in Apple in the fourth quarter valued at approximately $65,000. Pillar Financial Advisors LLC bought a new position in shares of Apple during the fourth quarter worth approximately $82,000. Compass Planning Associates Inc bought a new position in shares of Apple during the fourth quarter worth approximately $96,000. Finally, Sellwood Investment Partners LLC bought a new position in shares of Apple during the fourth quarter worth approximately $147,000. Institutional investors own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Raymond James Financial reiterated an "outperform" rating and set a $240.00 target price (up previously from $230.00) on shares of Apple in a research note on Friday, August 1st. DA Davidson reiterated a "buy" rating and set a $250.00 target price on shares of Apple in a research note on Friday, August 1st. Jefferies Financial Group upgraded Apple from an "underperform" rating to a "hold" rating in a research note on Friday, July 18th. Barclays increased their target price on Apple from $173.00 to $180.00 and gave the stock an "underweight" rating in a research note on Friday, August 1st. Finally, China Renaissance assumed coverage on Apple in a research note on Tuesday, April 22nd. They set a "buy" rating and a $241.00 target price on the stock. Two investment 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's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $237.60.

Apple Stock Down 0.5%

Shares of AAPL stock traded down $1.19 during trading hours on Friday, hitting $231.59. 56,003,275 shares of the company's stock traded hands, compared to its average volume of 63,552,584. The stock's fifty day simple moving average is $209.69 and its two-hundred day simple moving average is $213.33. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The stock has a market cap of $3.44 trillion, a price-to-earnings ratio of 35.14, a PEG ratio of 2.44 and a beta of 1.16. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25.

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

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple's dividend payout ratio (DPR) is 15.78%.

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 buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling at Apple

In related news, SVP Deirdre O'brien sold 34,821 shares of the firm's 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 completion of the sale, the senior vice president owned 136,687 shares of the company's stock, valued at $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is 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.