Apple Inc. (NASDAQ:AAPL) Shares Purchased by Choate Investment Advisors

Choate Investment Advisors raised its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 5.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 596,564 shares of the iPhone maker's stock after buying an additional 30,490 shares during the period. Apple comprises about 3.6% of Choate Investment Advisors' holdings, making the stock its 2nd largest position. Choate Investment Advisors' holdings in Apple were worth $149,378,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Drystone LLC purchased a new position in shares of Apple in the fourth quarter worth about $25,000. SPX Gestao de Recursos Ltda purchased a new position in Apple during the third quarter valued at approximately $71,000. Pillar Financial Advisors LLC purchased a new position in Apple during the fourth quarter valued at approximately $82,000. Teachers Insurance & Annuity Association of America purchased a new position in Apple during the third quarter valued at approximately $77,000. Finally, Compass Planning Associates Inc bought a new stake in Apple during the fourth quarter valued at approximately $96,000. 67.73% of the stock is owned by institutional investors.

Apple Stock Up 0.4%

Shares of Apple stock traded up $0.84 during trading on Thursday, hitting $201.26. 11,638,749 shares of the stock traded hands, compared to its average volume of 56,057,477. The stock's fifty day simple moving average is $204.01 and its 200 day simple moving average is $225.36. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The firm has a market cap of $3.01 trillion, a P/E ratio of 31.94, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share 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 business had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. During the same quarter in the previous year, the firm earned $1.53 earnings per share. The company's revenue was up 5.1% on a year-over-year basis. On average, equities analysts predict 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 given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. This is a boost from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. Apple's payout ratio is presently 16.20%.

Apple announced that its board has approved a stock repurchase plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AAPL. The Goldman Sachs Group restated a "buy" rating on shares of Apple in a report on Wednesday, May 21st. Citigroup reaffirmed a "cautious" rating on shares of Apple in a research note on Monday, May 5th. Evercore ISI lifted their target price on shares of Apple from $260.00 to $275.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 18th. Needham & Company LLC reaffirmed a "buy" rating and issued a $225.00 target price on shares of Apple in a research note on Friday, May 2nd. Finally, TD Cowen decreased their target price on shares of Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $235.80.

Insider Buying and Selling at Apple

In related news, SVP Katherine L. Adams sold 38,822 shares of the firm's stock in a transaction that occurred 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 transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Jeffrey E. Williams sold 35,493 shares of Apple stock in a transaction that occurred on Wednesday, April 2nd. The shares were 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 owns 390,059 shares in the company, valued at $87,377,116.59. This trade represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,507 shares of company stock worth $42,694,080 in the last three months. 0.06% of the stock is owned by corporate insiders.

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.