Free Trial

Apple Inc. (NASDAQ:AAPL) Position Raised by Blackston Financial Advisory Group LLC

Apple logo with Computer and Technology background

Blackston Financial Advisory Group LLC lifted its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 11.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,002 shares of the iPhone maker's stock after buying an additional 3,195 shares during the period. Apple comprises approximately 3.4% of Blackston Financial Advisory Group LLC's holdings, making the stock its 8th largest holding. Blackston Financial Advisory Group LLC's holdings in Apple were worth $6,664,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Norges Bank bought a new position in Apple in the 4th quarter valued at $46,868,648,000. GAMMA Investing LLC boosted its position in shares of Apple by 25,934.1% in the 1st 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. boosted its position in shares of Apple by 3.7% in the 4th 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 boosted its position in shares of Apple by 23,555.4% in the 4th quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock worth $5,272,653,000 after purchasing an additional 20,966,232 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 4,486 shares of the business'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 transaction, the insider owned 15,533 shares in the company, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is owned by corporate insiders.

Apple Stock Performance

Shares of AAPL stock traded up $0.12 during trading hours on Friday, hitting $213.88. 38,805,177 shares of the company were exchanged, compared to its average volume of 49,464,392. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The stock has a market capitalization of $3.19 trillion, a price-to-earnings ratio of 33.31, a P/E/G ratio of 2.39 and a beta of 1.20. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. The firm has a fifty day simple moving average of $204.77 and a 200 day simple moving average of $214.58.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating 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 firm had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. During the same period last year, the firm earned $1.53 EPS. The business's quarterly revenue was up 5.1% compared to the same quarter last year. Research analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.49%. Apple's payout ratio is currently 16.20%.

Analyst Ratings Changes

Several research firms have weighed in on AAPL. Bank of America reiterated a "buy" rating and set a $235.00 target price on shares of Apple in a report on Tuesday, June 10th. China Renaissance began coverage on Apple in a report on Tuesday, April 22nd. They set a "buy" rating and a $241.00 target price on the stock. Citigroup reiterated a "buy" rating on shares of Apple in a report on Tuesday, June 10th. Jefferies Financial Group upgraded Apple from an "underperform" rating to a "hold" rating in a report on Friday, July 18th. Finally, TD Cowen cut their price target on Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Apple has a consensus rating of "Moderate Buy" and a consensus price target of $234.94.

View Our Latest Analysis on AAPL

Apple Company Profile

(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.

Further Reading

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Should You Invest $1,000 in Apple Right Now?

Before you consider Apple, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Apple wasn't on the list.

While Apple currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Options Trading Made Easy - Download Now Cover

Learn the basics of options trading and how to use them to boost returns and manage risk with this free report from MarketBeat. Click the link below to get your free copy.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Related Videos

3 “Boring” Mega Cap Stocks to Turn Into Pure Profit
Time to Cash Out? 5 Stocks to Drop Before Earnings
Magnificent 7 Stocks Shift Toward Stability and Selective Growth

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines