Nicolet Advisory Services LLC increased its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 0.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 155,407 shares of the iPhone maker's stock after purchasing an additional 1,276 shares during the quarter. Apple accounts for about 3.4% of Nicolet Advisory Services LLC's investment portfolio, making the stock its 4th largest holding. Nicolet Advisory Services LLC's holdings in Apple were worth $36,808,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Drystone LLC acquired a new stake in shares of Apple in the fourth quarter valued at about $25,000. Life Planning Partners Inc acquired a new position in Apple during the 4th quarter worth approximately $47,000. SPX Gestao de Recursos Ltda purchased a new position in Apple in the 3rd quarter worth approximately $71,000. Pillar Financial Advisors LLC acquired a new stake in Apple in the fourth quarter valued at approximately $82,000. Finally, Compass Planning Associates Inc purchased a new stake in shares of Apple during the fourth quarter valued at approximately $96,000. Hedge funds and other institutional investors own 67.73% of the company's stock.
Apple Stock Performance
Shares of NASDAQ:AAPL traded up $0.06 during trading on Thursday, hitting $198.84. 14,546,869 shares of the company traded hands, compared to its average volume of 55,449,083. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The business's fifty day moving average is $200.92 and its 200-day moving average is $223.60. The stock has a market capitalization of $2.97 trillion, a price-to-earnings ratio of 31.56, a PEG ratio of 2.44 and a beta of 1.22. Apple Inc. has a one year low of $169.21 and a one year high of $260.10.
Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. The business had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%. The business's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.53 EPS. As a group, equities analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 annualized dividend and a yield of 0.52%. 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 has authorized a stock repurchase program on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.
Wall Street Analysts Forecast Growth
AAPL has been the subject of a number of recent analyst reports. Raymond James lowered their price target on shares of Apple from $250.00 to $230.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Morgan Stanley reissued an "overweight" rating and issued a $235.00 price objective on shares of Apple in a research report on Thursday, June 5th. Rosenblatt Securities lowered Apple from a "buy" rating to a "neutral" rating and set a $217.00 target price on the stock. in a research report on Friday, May 2nd. DA Davidson boosted their price target on Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Finally, Wedbush reissued an "outperform" rating and issued a $270.00 price target on shares of Apple in a report on Tuesday. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $234.86.
Check Out Our Latest Stock Report on AAPL
Insider Activity at Apple
In other news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction that occurred on 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 now owns 15,533 shares of the company's stock, valued at $3,233,815.27. The trade was a 22.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the sale, the chief financial officer now directly owns 4,569 shares of the company's stock, valued at approximately $941,214. This represents a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,507 shares of company stock worth $42,694,080 in the last 90 days. Corporate insiders own 0.06% of the company's stock.
Apple 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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