Apple Inc. (NASDAQ:AAPL) Holdings Lifted by Allstate Corp

Allstate Corp lifted its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 3,368.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 451,489 shares of the iPhone maker's stock after acquiring an additional 438,471 shares during the period. Apple accounts for about 3.3% of Allstate Corp's investment portfolio, making the stock its 7th largest position. Allstate Corp's holdings in Apple were worth $113,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the stock. O Connor Financial Group LLC grew its holdings in shares of Apple by 1.2% in the fourth quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker's stock worth $896,000 after acquiring an additional 41 shares during the period. Menard Financial Group LLC raised its stake in Apple by 0.4% during the 3rd quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker's stock worth $2,848,000 after acquiring an additional 48 shares during the period. Hanseatic Management Services Inc. lifted its position in shares of Apple by 1.3% in the fourth quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker's stock valued at $945,000 after acquiring an additional 48 shares in the last quarter. Family Capital Management Inc. lifted its position in shares of Apple by 0.3% in the fourth quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock valued at $4,235,000 after acquiring an additional 48 shares in the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA lifted its position in shares of Apple by 0.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock valued at $4,178,000 after acquiring an additional 48 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Performance

AAPL traded down $2.47 on Monday, hitting $201.45. 72,665,260 shares of the company traded hands, compared to its average volume of 56,221,299. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The company has a 50 day moving average of $201.17 and a 200-day moving average of $224.12. 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 $3.01 trillion, a PE ratio of 31.98, a PEG ratio of 2.44 and a beta of 1.22.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $94.04 billion. During the same quarter in the previous year, the firm posted $1.53 EPS. The firm's quarterly revenue was up 5.1% on a year-over-year basis. Sell-side analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current 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 $0.26 dividend. The ex-dividend date was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. This is a boost from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio is currently 16.20%.

Apple declared that its Board of Directors has authorized a stock repurchase program on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Rosenblatt Securities lowered shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 target price for the company. in a report on Friday, May 2nd. JPMorgan Chase & Co. reduced their price target on Apple from $270.00 to $245.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Citigroup reissued a "cautious" rating on shares of Apple in a research note on Monday, May 5th. Bank of America reduced their price objective on Apple from $250.00 to $240.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, Needham & Company LLC restated a "hold" rating and set a $225.00 price objective on shares of Apple in a report on Wednesday, June 4th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $235.02.

Insider Buying and Selling

In other news, SVP Katherine L. Adams sold 38,822 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the sale, the senior vice president now owns 179,158 shares in the company, valued at $40,072,269.86. This trade represents a 17.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 108,136 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the sale, the chief executive officer now owns 3,280,295 shares in the company, valued at $733,637,976.75. This trade represents a 3.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,507 shares of company stock worth $42,694,080 in the last quarter. Company insiders own 0.06% of the company's stock.

About Apple

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.