Oxford Financial Group LTD. LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 130,357 shares of the iPhone maker's stock after selling 2,011 shares during the period. Apple comprises about 2.1% of Oxford Financial Group LTD. LLC's holdings, making the stock its 10th largest holding. Oxford Financial Group LTD. LLC's holdings in Apple were worth $32,644,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Drystone LLC bought a new stake in shares of Apple in the 4th quarter valued at about $25,000. SPX Gestao de Recursos Ltda bought a new stake in shares of Apple in the 3rd quarter valued at about $71,000. Pillar Financial Advisors LLC bought a new stake in shares of Apple in the 4th quarter valued at about $82,000. Teachers Insurance & Annuity Association of America bought a new stake in shares of Apple in the 3rd quarter valued at about $77,000. Finally, Compass Planning Associates Inc bought a new stake in shares of Apple in the 4th quarter valued at about $96,000. Institutional investors own 67.73% of the company's stock.
Apple Stock Performance
Apple stock traded up $1.57 during trading on Tuesday, reaching $203.27. The company had a trading volume of 46,332,353 shares, compared to its average volume of 56,131,611. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The firm's 50-day simple moving average is $202.29 and its 200 day simple moving average is $224.69. The firm has a market capitalization of $3.04 trillion, a price-to-earnings ratio of 32.27, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27. 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 announced its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. Apple had a return on equity of 160.83% and a net margin of 24.30%. The company had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. During the same period last year, the firm earned $1.53 EPS. Apple's revenue for the quarter was up 5.1% compared to the same quarter last year. Sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a $0.26 dividend. This is a boost from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Monday, May 12th. Apple's dividend payout ratio (DPR) is currently 16.20%.
Apple announced that its board has approved a share buyback 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 purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on the company. UBS Group reissued a "buy" rating on shares of Apple in a research note on Sunday. Rosenblatt Securities lowered Apple from a "buy" rating to a "neutral" rating and set a $217.00 target price for the company. in a research note on Friday, May 2nd. TD Cowen lowered their target price on Apple from $290.00 to $275.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Jefferies Financial Group restated an "underperform" rating and set a $170.62 price target (up previously from $167.88) on shares of Apple in a report on Friday, May 2nd. Finally, Tigress Financial boosted their price target on Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a report on Thursday, April 3rd. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $235.80.
Check Out Our Latest Stock Report on Apple
Insider Buying and Selling
In related news, CFO Kevan Parekh sold 4,570 shares of the firm's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jeffrey E. Williams sold 35,493 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the transaction, the chief operating officer now directly owns 390,059 shares in the company, valued at approximately $87,377,116.59. This represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,507 shares of company stock valued at $42,694,080. 0.06% of the stock is owned by company insiders.
About Apple
(
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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