Campbell Capital Management Inc. decreased its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 5.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 164,669 shares of the iPhone maker's stock after selling 9,805 shares during the period. Apple comprises 16.1% of Campbell Capital Management Inc.'s investment portfolio, making the stock its biggest position. Campbell Capital Management Inc.'s holdings in Apple were worth $41,236,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Natixis Advisors LLC grew its position in shares of Apple by 13.8% in the third quarter. Natixis Advisors LLC now owns 7,192,453 shares of the iPhone maker's stock valued at $1,675,842,000 after purchasing an additional 870,556 shares during the period. Paragon Advisors LLC boosted its position in Apple by 5.5% during the third quarter. Paragon Advisors LLC now owns 7,128 shares of the iPhone maker's stock worth $1,661,000 after acquiring an additional 370 shares during the last quarter. Maxwell Wealth Strategies Inc. raised its stake in Apple by 2.3% during the third quarter. Maxwell Wealth Strategies Inc. now owns 32,444 shares of the iPhone maker's stock worth $7,250,000 after purchasing an additional 717 shares during the period. RIA Advisory Group LLC purchased a new stake in shares of Apple in the 3rd quarter valued at approximately $2,248,000. Finally, Heritage Investment Group Inc. increased its stake in Apple by 22.3% during the 3rd quarter. Heritage Investment Group Inc. now owns 21,443 shares of the iPhone maker's stock worth $4,996,000 after buying an additional 3,905 shares during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have commented on AAPL shares. Scotiabank cut shares of Apple to a "market perform" rating in a report on Friday, May 2nd. Needham & Company LLC reiterated a "buy" rating and set a $225.00 price target on shares of Apple in a report on Friday, May 2nd. Jefferies Financial Group reiterated an "underperform" rating and set a $170.62 price target (up previously from $167.88) on shares of Apple in a report on Friday, May 2nd. Rosenblatt Securities cut shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 price target for the company. in a report on Friday, May 2nd. Finally, China Renaissance started coverage on shares of Apple in a report on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price target for the company. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $235.80.
Read Our Latest Analysis on Apple
Insiders Place Their Bets
In other news, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the transaction, the chief executive officer now owns 3,280,295 shares in the company, valued at $733,637,976.75. This trade represents a 3.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the completion of the transaction, the chief operating officer now owns 390,059 shares of the company's stock, valued at $87,377,116.59. This represents a 8.34% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 191,507 shares of company stock worth $42,694,080. 0.06% of the stock is owned by insiders.
Apple Stock Down 3.0%
Shares of NASDAQ:AAPL opened at $195.27 on Friday. The stock has a market cap of $2.92 trillion, a P/E ratio of 31.00, a P/E/G ratio of 2.44 and a beta of 1.27. The firm has a fifty day moving average price of $205.04 and a 200 day moving average price of $225.95. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10.
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 for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. The firm had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. Apple's quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.53 EPS. Sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current year.
Apple Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.53%. This is an increase from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio is presently 16.20%.
Apple announced that its Board of Directors has approved a share buyback plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its shares are undervalued.
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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