Oxinas Partners Wealth Management LLC boosted its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,295 shares of the iPhone maker's stock after purchasing an additional 1,212 shares during the quarter. Apple comprises approximately 4.8% of Oxinas Partners Wealth Management LLC's portfolio, making the stock its 2nd biggest holding. Oxinas Partners Wealth Management LLC's holdings in Apple were worth $8,062,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Apple by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock worth $349,532,608,000 after acquiring an additional 49,168,843 shares during the last quarter. Geode Capital Management LLC raised its position in Apple by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker's stock worth $84,999,145,000 after purchasing an additional 6,307,413 shares during the period. Norges Bank bought a new stake in Apple in the fourth quarter worth $46,868,648,000. Northern Trust Corp boosted its position in Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after buying an additional 20,079,472 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Apple by 14.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker's stock valued at $26,220,566,000 after buying an additional 13,137,968 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.
Insider Activity at Apple
In other news, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction on 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 owned 15,533 shares in the company, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Kevan Parekh sold 4,570 shares of the company's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the sale, the chief financial officer directly owned 4,569 shares of the company's stock, valued at approximately $941,214. This trade represents a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on AAPL shares. Evercore ISI boosted their target price on Apple to $250.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Morgan Stanley reaffirmed an "overweight" rating on shares of Apple in a research note on Friday, June 13th. Loop Capital dropped their price objective on Apple from $230.00 to $215.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. Rosenblatt Securities downgraded shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 target price on the stock. in a research note on Friday, May 2nd. Finally, DA Davidson increased their price target on shares of Apple from $230.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $234.95.
Read Our Latest Analysis on AAPL
Apple Stock Up 0.4%
Shares of AAPL opened at $213.36 on Friday. The firm has a fifty day moving average price of $203.35 and a 200-day moving average price of $218.86. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $3.19 trillion, a P/E ratio of 33.23, a P/E/G ratio of 2.38 and a beta of 1.20. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10.
Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. The company had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the business posted $1.53 EPS. Equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.
Apple announced that its Board of Directors has authorized a stock repurchase program on Thursday, May 1st that allows the company to repurchase $100.00 billion in shares. This repurchase authorization allows the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.
Apple Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were paid 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 0.49%. This is a boost from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio is 16.20%.
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.
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