Apple Inc. (NASDAQ:AAPL) Stake Raised by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp boosted its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 0.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,645,346 shares of the iPhone maker's stock after buying an additional 31,234 shares during the period. Apple accounts for approximately 5.1% of Mitsubishi UFJ Trust & Banking Corp's portfolio, making the stock its largest position. Mitsubishi UFJ Trust & Banking Corp owned 0.06% of Apple worth $2,164,968,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of AAPL. Drystone LLC bought a new position in shares of Apple in the 4th quarter worth about $25,000. SPX Gestao de Recursos Ltda purchased a new stake in Apple in the third quarter worth about $71,000. Pillar Financial Advisors LLC bought a new position in shares of Apple during the fourth quarter valued at approximately $82,000. Teachers Insurance & Annuity Association of America purchased a new position in shares of Apple during the third quarter valued at approximately $77,000. Finally, Compass Planning Associates Inc bought a new stake in shares of Apple in the 4th quarter worth approximately $96,000. 67.73% of the stock is owned by institutional investors.

Apple Stock Performance

Shares of NASDAQ:AAPL traded down $2.19 during midday trading on Thursday, hitting $200.63. The company had a trading volume of 55,012,072 shares, compared to its average volume of 58,125,285. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The company has a fifty day moving average of $201.99 and a two-hundred day moving average of $224.54. The company has a market cap of $3.00 trillion, a price-to-earnings ratio of 31.85, a PEG ratio of 2.44 and a beta of 1.27. 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 (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. Apple had a return on equity of 160.83% and a net margin of 24.30%. The business had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. During the same quarter in the prior year, the business posted $1.53 earnings per share. The business's quarterly revenue was up 5.1% on a year-over-year basis. On average, equities research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple declared that its board has approved a share buyback program 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 programs are generally an indication that the company's management believes its shares are undervalued.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.52%. This is a positive change from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. Apple's dividend payout ratio is currently 16.20%.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the sale, the insider now directly owns 15,533 shares in the company, valued at $3,233,815.27. This trade represents a 22.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was 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 directly 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 90 days, insiders have sold 191,507 shares of company stock worth $42,694,080. Company insiders own 0.06% of the company's stock.

Analyst Ratings Changes

AAPL has been the subject of a number of analyst reports. Maxim Group raised their price objective on Apple to $215.00 and gave the company a "hold" rating in a research report on Friday, February 21st. Morgan Stanley reissued an "overweight" rating and issued a $235.00 target price on shares of Apple in a research note on Thursday. TD Cowen reduced their price target on Apple from $290.00 to $275.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Scotiabank cut shares of Apple to a "market perform" rating in a research note on Friday, May 2nd. Finally, Rosenblatt Securities downgraded shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 price objective on the stock. in a research report on Friday, May 2nd. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and a consensus price target of $235.80.

Apple Profile

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.