Holderness Investments Co. lowered its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 124,028 shares of the iPhone maker's stock after selling 1,315 shares during the period. Apple makes up 6.8% of Holderness Investments Co.'s holdings, making the stock its biggest holding. Holderness Investments Co.'s holdings in Apple were worth $31,059,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp lifted its holdings in Apple by 10.6% during the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock worth $136,074,372,000 after purchasing an additional 55,935,105 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in shares of Apple by 23,555.4% during the fourth 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 period. Geode Capital Management LLC boosted its position in Apple by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock valued at $77,542,863,000 after buying an additional 20,483,787 shares during the period. FMR LLC raised its stake in shares of Apple by 5.3% during the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock valued at $84,779,231,000 after acquiring an additional 18,224,005 shares during the last quarter. Finally, Strategic Financial Concepts LLC raised its holdings in shares of Apple by 25,285.2% during the fourth quarter. Strategic Financial Concepts LLC now owns 9,628,864 shares of the iPhone maker's stock valued at $2,411,260,000 after acquiring an additional 9,590,933 shares in the last quarter. Institutional investors own 67.73% of the company's stock.
Insider Activity at Apple
In other news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider now owns 15,533 shares in the company, valued at $3,233,815.27. The trade was a 22.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 3,280,295 shares of the company's stock, valued at $733,637,976.75. This trade represents a 3.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 191,507 shares of company stock valued at $42,694,080. Insiders own 0.06% of the company's stock.
Analyst Upgrades and Downgrades
AAPL has been the subject of several research reports. Rosenblatt Securities cut shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 price objective for the company. in a report on Friday, May 2nd. KeyCorp raised shares of Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. Maxim Group upped their price objective on Apple to $215.00 and gave the stock a "hold" rating in a research note on Friday, February 21st. JPMorgan Chase & Co. reduced their target price on shares of Apple from $270.00 to $245.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $225.00 price objective on shares of Apple in a research note on Friday, May 2nd. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $235.80.
Check Out Our Latest Research Report on Apple
Apple Price Performance
AAPL stock traded up $1.17 during midday trading on Tuesday, hitting $202.87. 7,999,213 shares of the stock were exchanged, compared to its average volume of 55,960,201. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The stock has a market cap of $3.03 trillion, a price-to-earnings ratio of 32.20, a PEG ratio of 2.44 and a beta of 1.27. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The stock's 50-day moving average price is $202.70 and its 200-day moving average price is $224.84.
Apple (NASDAQ:AAPL - Get Free Report) last announced 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%. The firm's revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.53 EPS. Research analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.
Apple announced that its board has approved a stock buyback plan on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.
Apple Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a 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 payout ratio is currently 16.20%.
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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