Prime Capital Investment Advisors LLC Has $204.18 Million Stake in Apple Inc. (NASDAQ:AAPL)

Prime Capital Investment Advisors LLC increased its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 815,335 shares of the iPhone maker's stock after acquiring an additional 6,914 shares during the quarter. Apple comprises approximately 3.0% of Prime Capital Investment Advisors LLC's portfolio, making the stock its 3rd biggest position. Prime Capital Investment Advisors LLC's holdings in Apple were worth $204,176,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AAPL. OneAscent Wealth Management LLC raised its holdings in Apple by 4.6% in the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock worth $2,337,000 after purchasing an additional 409 shares in the last quarter. Allstate Corp grew its position in shares of Apple by 3,368.2% in the 4th quarter. Allstate Corp now owns 451,489 shares of the iPhone maker's stock worth $113,062,000 after buying an additional 438,471 shares during the period. Vinva Investment Management Ltd increased its stake in shares of Apple by 12.4% in the 4th quarter. Vinva Investment Management Ltd now owns 764,075 shares of the iPhone maker's stock worth $192,700,000 after acquiring an additional 83,997 shares in the last quarter. Safe Harbor Fiduciary LLC purchased a new position in Apple during the 3rd quarter valued at about $4,972,000. Finally, SYM FINANCIAL Corp boosted its stake in Apple by 6.3% during the third quarter. SYM FINANCIAL Corp now owns 28,626 shares of the iPhone maker's stock worth $6,670,000 after acquiring an additional 1,695 shares in the last quarter. Institutional investors own 67.73% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on AAPL. Loop Capital decreased their target price on shares of Apple from $230.00 to $215.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. Bank of America decreased their target price on shares of Apple from $250.00 to $240.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Jefferies Financial Group reiterated 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. Monness Crespi & Hardt decreased their price objective on shares of Apple from $260.00 to $245.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Apple in a research note on Wednesday, May 21st. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $235.02.

Apple Stock Performance

Shares of AAPL stock traded down $2.47 during mid-day trading on Monday, reaching $201.45. 72,159,282 shares of the company's stock traded hands, compared to its average volume of 56,219,988. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The firm has a market capitalization of $3.01 trillion, a PE ratio of 31.98, a price-to-earnings-growth ratio of 2.44 and a beta of 1.22. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The firm has a 50 day moving average price of $201.17 and a two-hundred day moving average price of $224.12.

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, beating the consensus estimate 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 the consensus estimate of $94.04 billion. Apple's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.53 earnings per share. On average, research analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. Apple's payout ratio is 16.20%.

Apple declared that its board has authorized a share 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 reacquire up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the transaction, the chief executive officer now owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. The trade was a 3.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chris Kondo sold 4,486 shares of the company'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 completion of the transaction, the insider now directly owns 15,533 shares of the company's stock, valued at $3,233,815.27. This represents a 22.41% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,507 shares of company stock valued at $42,694,080. 0.06% of the stock is owned by corporate insiders.

Apple Company 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.