Apple Inc. (NASDAQ:AAPL) is Strategy Asset Managers LLC's 5th Largest Position

Strategy Asset Managers LLC lessened its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,582 shares of the iPhone maker's stock after selling 3,699 shares during the quarter. Apple accounts for approximately 2.8% of Strategy Asset Managers LLC's holdings, making the stock its 5th biggest position. Strategy Asset Managers LLC's holdings in Apple were worth $14,670,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Allianz SE purchased a new position in Apple in the fourth quarter worth about $153,790,000. Cambridge Financial Group Inc. purchased a new position in Apple in the 4th quarter worth approximately $9,084,000. Tucker Asset Management LLC lifted its position in Apple by 2.5% in the 4th quarter. Tucker Asset Management LLC now owns 15,006 shares of the iPhone maker's stock valued at $3,758,000 after acquiring an additional 373 shares in the last quarter. Prime Capital Investment Advisors LLC boosted its stake in Apple by 0.9% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 815,335 shares of the iPhone maker's stock valued at $204,176,000 after purchasing an additional 6,914 shares during the last quarter. Finally, Valley Forge Investment Consultants Inc. ADV boosted its stake in Apple by 0.7% during the 4th quarter. Valley Forge Investment Consultants Inc. ADV now owns 9,750 shares of the iPhone maker's stock valued at $2,442,000 after purchasing an additional 63 shares during the last quarter. Institutional investors own 67.73% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on AAPL shares. Scotiabank cut Apple to a "market perform" rating in a research note on Friday, May 2nd. Monness Crespi & Hardt decreased their target price on Apple from $260.00 to $245.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. China Renaissance assumed coverage on shares of Apple in a research note on Tuesday, April 22nd. They set a "buy" rating and a $241.00 target price on the stock. Maxim Group lifted their price target on shares of Apple to $215.00 and gave the stock a "hold" rating in a research note on Friday, February 21st. Finally, Evercore ISI increased their price objective on shares of Apple to $250.00 and gave the company a "buy" rating in a research report on Friday. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Apple presently has a consensus rating of "Moderate Buy" and a consensus price target of $235.02.

Insider Activity at Apple

In related news, CFO Kevan Parekh sold 4,570 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 4,569 shares of the company's stock, valued at approximately $941,214. This trade represents a 50.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 108,136 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total value of $24,184,616.40. Following the transaction, the chief executive officer now owns 3,280,295 shares of the company's stock, valued at approximately $733,637,976.75. The trade was a 3.19% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 191,507 shares of company stock worth $42,694,080. Insiders own 0.06% of the company's stock.

Apple Trading Up 1.6%

Shares of NASDAQ AAPL traded up $3.29 during trading hours on Friday, hitting $203.92. 46,477,335 shares of the company traded hands, compared to its average volume of 56,154,463. The company's 50 day moving average price is $201.17 and its 200 day moving average price is $224.15. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The stock has a market capitalization of $3.05 trillion, a price-to-earnings ratio of 32.37, a price-to-earnings-growth ratio of 2.44 and a beta of 1.22. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26.

Apple (NASDAQ:AAPL - Get Free Report) last posted 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. Apple had a net margin of 24.30% and a return on equity of 160.83%. The business had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. During the same quarter in the previous year, the business posted $1.53 earnings per share. The business's revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.51%. This is an increase from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. 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 allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its shares are undervalued.

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.