Fjell Capital LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 8.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,301 shares of the iPhone maker's stock after acquiring an additional 1,214 shares during the period. Apple comprises 3.4% of Fjell Capital LLC's holdings, making the stock its 7th largest holding. Fjell Capital LLC's holdings in Apple were worth $3,399,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in AAPL. Norges Bank bought a new position in Apple in the fourth quarter valued at about $46,868,648,000. GAMMA Investing LLC boosted its stake 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 valued at $133,425,490,000 after purchasing an additional 59,835,676 shares in the last quarter. Vanguard Group Inc. boosted its stake 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 valued at $349,532,608,000 after purchasing an additional 49,168,843 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in shares of Apple by 23,555.4% during the 4th quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock valued at $5,272,653,000 after purchasing an additional 20,966,232 shares during the last quarter. Finally, Northern Trust Corp increased its position in Apple by 13.3% during 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 in the last quarter. 67.73% of the stock is owned by institutional investors.
Apple Stock Up 0.4%
Shares of AAPL traded up $0.92 on Friday, reaching $213.36. The company's stock had a trading volume of 34,955,836 shares, compared to its average volume of 53,594,994. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The stock has a market capitalization of $3.19 trillion, a PE ratio of 33.23, a PEG ratio of 2.38 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 moving average of $203.35 and a 200-day moving average of $218.66.
Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping the consensus estimate of $1.62 by $0.03. The firm had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. The company's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.53 earnings per share. Equities analysts predict that Apple Inc. will post 7.28 EPS for the current year.
Apple announced that its Board of Directors has approved a share buyback plan on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is undervalued.
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 issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.49%. This is an increase from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. Apple's payout ratio is currently 16.20%.
Insiders Place Their Bets
In related news, CFO Kevan Parekh sold 4,570 shares of the business's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the transaction, the chief financial officer directly owned 4,569 shares in the company, valued at approximately $941,214. The trade was a 50.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chris Kondo sold 4,486 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the sale, the insider owned 15,533 shares of the company's stock, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of analysts have weighed in on AAPL shares. UBS Group set a $210.00 target price on shares of Apple and gave the company a "neutral" rating in a research report on Thursday. Morgan Stanley reaffirmed an "overweight" rating on shares of Apple in a report on Friday, June 13th. Monness Crespi & Hardt lifted their price target on Apple to $245.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Scotiabank downgraded Apple to a "market perform" rating in a research note on Friday, May 2nd. Finally, Citigroup reiterated a "buy" rating on shares of Apple in a report on Tuesday, June 10th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $234.95.
View Our Latest Report on AAPL
About Apple
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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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