Nilsine Partners LLC boosted its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 0.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 216,360 shares of the iPhone maker's stock after buying an additional 1,262 shares during the period. Apple comprises 5.3% of Nilsine Partners LLC's investment portfolio, making the stock its 2nd largest holding. Nilsine Partners LLC's holdings in Apple were worth $48,060,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Burkett Financial Services LLC lifted its position in Apple by 0.6% in the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock worth $3,199,000 after buying an additional 93 shares in the last quarter. Avid Wealth Partners LLC lifted its position in Apple by 28.3% in the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker's stock worth $935,000 after buying an additional 930 shares in the last quarter. OneAscent Wealth Management LLC lifted its position in Apple by 4.6% in the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock worth $2,337,000 after buying an additional 409 shares in the last quarter. TruWealth Advisors LLC increased its stake in shares of Apple by 2.8% in the first quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker's stock worth $42,045,000 after acquiring an additional 5,120 shares during the last quarter. Finally, Allstate Corp increased its stake in shares of Apple by 3,368.2% in the fourth quarter. Allstate Corp now owns 451,489 shares of the iPhone maker's stock worth $113,062,000 after acquiring an additional 438,471 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.
Apple Stock Performance
Shares of Apple stock traded down $2.22 during midday trading on Wednesday, hitting $209.05. The company had a trading volume of 43,674,703 shares, compared to its average volume of 43,746,808. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. The stock has a market cap of $3.12 trillion, a PE ratio of 32.56, a P/E/G ratio of 2.32 and a beta of 1.20. The business's 50 day simple moving average is $205.10 and its two-hundred day simple moving average is $214.16. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10.
Apple (NASDAQ:AAPL - Get Free Report) last released its 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. Apple had a return on equity of 167.24% and a net margin of 24.30%. The business had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. During the same period last year, the business earned $1.53 earnings per share. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, equities analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple announced that its Board of Directors has authorized a stock repurchase plan on Thursday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are undervalued.
Apple Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a dividend of $0.26 per share. The ex-dividend date was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.50%. This is an increase from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is currently 16.20%.
Insiders Place Their Bets
In other Apple news, insider Chris Kondo sold 4,486 shares of Apple 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 owned 15,533 shares in the company, valued at $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on the stock. DA Davidson upped their price target on shares of Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. TD Cowen dropped their target price on Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Citigroup restated a "buy" rating on shares of Apple in a report on Tuesday, June 10th. The Goldman Sachs Group restated a "buy" rating on shares of Apple in a report on Wednesday, May 21st. Finally, Rosenblatt Securities restated a "neutral" rating and issued a $217.00 price objective on shares of Apple in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $234.94.
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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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