Northeast Investment Management lowered its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 0.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 659,579 shares of the iPhone maker's stock after selling 4,172 shares during the period. Apple accounts for about 6.8% of Northeast Investment Management's holdings, making the stock its biggest position. Northeast Investment Management's holdings in Apple were worth $146,512,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Charis Legacy Partners LLC grew its stake in Apple by 20.1% during the first quarter. Charis Legacy Partners LLC now owns 4,920 shares of the iPhone maker's stock valued at $1,093,000 after acquiring an additional 825 shares in the last quarter. USA Financial Formulas grew its stake in Apple by 11.7% during the first quarter. USA Financial Formulas now owns 7,228 shares of the iPhone maker's stock valued at $1,606,000 after acquiring an additional 759 shares in the last quarter. My Legacy Advisors LLC grew its stake in Apple by 3.9% during the first quarter. My Legacy Advisors LLC now owns 38,248 shares of the iPhone maker's stock valued at $8,496,000 after acquiring an additional 1,436 shares in the last quarter. Founders Capital Management LLC grew its stake in Apple by 2.2% during the first quarter. Founders Capital Management LLC now owns 84,095 shares of the iPhone maker's stock valued at $18,680,000 after acquiring an additional 1,802 shares in the last quarter. Finally, CX Institutional grew its stake in Apple by 7.4% during the first quarter. CX Institutional now owns 189,978 shares of the iPhone maker's stock valued at $42,200,000 after acquiring an additional 13,013 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.
Apple Stock Down 0.6%
NASDAQ:AAPL opened at $211.16 on Friday. The firm has a 50-day simple moving average of $203.39 and a two-hundred day simple moving average of $217.12. The firm has a market cap of $3.15 trillion, a P/E ratio of 32.89, a P/E/G ratio of 2.36 and a beta of 1.20. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82.
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, beating the consensus estimate of $1.62 by $0.03. The company had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.53 earnings per share. Analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple declared that its board has authorized a share repurchase plan on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding 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 often an indication that the company's board believes its shares are undervalued.
Apple Increases Dividend
The business 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 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is 16.20%.
Insider Buying and Selling
In other 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 transaction, the insider owned 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 legal filing with the SEC, which is available through this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the transaction, the chief financial officer owned 4,569 shares in the company, valued at $941,214. This represents a 50.01% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.06% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on AAPL shares. Evercore ISI boosted their price target on shares of Apple to $250.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Scotiabank cut shares of Apple to a "market perform" rating in a research note on Friday, May 2nd. JPMorgan Chase & Co. cut their price objective on shares of Apple from $245.00 to $230.00 and set an "overweight" rating for the company in a research note on Thursday, June 26th. KeyCorp raised shares of Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. Finally, Bank of America reaffirmed a "buy" rating and issued a $235.00 price objective on shares of Apple in a research note on Tuesday, June 10th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $235.27.
Read Our Latest Report on Apple
Apple Profile
(
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.
Featured Stories
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Apple, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Apple wasn't on the list.
While Apple currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
