Fiduciary Alliance LLC boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 3.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 233,774 shares of the iPhone maker's stock after purchasing an additional 7,658 shares during the period. Apple comprises approximately 5.1% of Fiduciary Alliance LLC's investment portfolio, making the stock its biggest position. Fiduciary Alliance LLC's holdings in Apple were worth $51,928,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of AAPL. Regent Peak Wealth Advisors LLC boosted its holdings in shares of Apple by 0.9% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 111,858 shares of the iPhone maker's stock valued at $28,012,000 after acquiring an additional 1,050 shares in the last quarter. R.H. Investment Group LLC bought a new position in Apple in the fourth quarter valued at about $5,375,000. Sebold Capital Management Inc. acquired a new stake in shares of Apple during the fourth quarter valued at about $203,000. Mason & Associates Inc grew its holdings in shares of Apple by 1.2% during the fourth quarter. Mason & Associates Inc now owns 34,033 shares of the iPhone maker's stock worth $8,522,000 after purchasing an additional 389 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its stake in shares of Apple by 3.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 72,428 shares of the iPhone maker's stock valued at $18,137,000 after buying an additional 2,581 shares during the period. Institutional investors and hedge funds own 67.73% of the company's stock.
Insider Buying and Selling at Apple
In related 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 directly owned 15,533 shares of the company's stock, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 38,822 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the transaction, the senior vice president owned 179,158 shares of the company's stock, valued at approximately $40,072,269.86. The trade was a 17.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,507 shares of company stock valued at $42,694,080 in the last ninety days. 0.06% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
AAPL has been the subject of a number of research reports. DA Davidson raised their price objective on shares of Apple from $230.00 to $250.00 and gave the company a "buy" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. dropped their price target on shares of Apple from $245.00 to $230.00 and set an "overweight" rating for the company in a research note on Thursday. Rosenblatt Securities lowered shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 price target on the stock. in a report on Friday, May 2nd. Wedbush restated an "outperform" rating and issued a $270.00 price objective on shares of Apple in a report on Tuesday, June 10th. Finally, Scotiabank lowered Apple to a "market perform" rating in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Apple currently has a consensus rating of "Moderate Buy" and a consensus price target of $234.39.
Get Our Latest Analysis on AAPL
Apple Stock Up 2.0%
Shares of AAPL stock traded up $4.09 during trading hours on Monday, reaching $205.17. The company had a trading volume of 91,511,325 shares, compared to its average volume of 53,513,950. The company has a market cap of $3.06 trillion, a price-to-earnings ratio of 31.96, a price-to-earnings-growth ratio of 2.25 and a beta of 1.22. 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 Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The business has a fifty day simple moving average of $202.61 and a 200-day simple moving average of $219.83.
Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. Apple had a return on equity of 167.24% and a net margin of 24.30%. The business had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. During the same period in the prior year, the firm posted $1.53 EPS. Apple's quarterly revenue was up 5.1% compared to the same quarter last year. On average, research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple declared that its board has authorized a share buyback plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.
Apple Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.51%. This is an increase from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. Apple's dividend payout ratio (DPR) is presently 16.20%.
Apple Company Profile
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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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