Lion Street Advisors LLC boosted its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 8.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,978 shares of the iPhone maker's stock after purchasing an additional 2,150 shares during the period. Apple comprises about 2.0% of Lion Street Advisors LLC's investment portfolio, making the stock its 7th biggest position. Lion Street Advisors LLC's holdings in Apple were worth $6,215,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Burkett Financial Services LLC grew its position in Apple by 0.6% during the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock worth $3,199,000 after purchasing an additional 93 shares during the period. Avid Wealth Partners LLC grew its position in Apple by 28.3% during the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker's stock worth $935,000 after purchasing an additional 930 shares during the period. OneAscent Wealth Management LLC grew its position in Apple by 4.6% during the 4th 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 during the period. TruWealth Advisors LLC grew its position in Apple by 2.8% during the 1st quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker's stock worth $42,045,000 after purchasing an additional 5,120 shares during the period. Finally, Allstate Corp grew its position in shares of Apple by 3,368.2% during the 4th quarter. Allstate Corp now owns 451,489 shares of the iPhone maker's stock valued at $113,062,000 after acquiring an additional 438,471 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.
Apple Trading Up 0.1%
Shares of AAPL stock traded up $0.12 during mid-day trading on Friday, reaching $213.88. The company's stock had a trading volume of 38,805,177 shares, compared to its average volume of 49,464,392. The firm has a market capitalization of $3.19 trillion, a PE ratio of 33.31, a price-to-earnings-growth ratio of 2.39 and a beta of 1.20. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The company's 50 day simple moving average is $204.77 and its 200-day simple moving average is $214.58.
Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data 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 net margin of 24.30% and a return on equity of 167.24%. The business had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. During the same period in the previous year, the company earned $1.53 earnings per share. Apple's revenue for the quarter was up 5.1% on a year-over-year basis. On average, research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple announced that its Board of Directors has authorized a share buyback program on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.
Apple Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.49%. This is a boost from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. Apple's payout ratio is presently 16.20%.
Insider Buying and Selling at Apple
In other news, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the sale, the insider directly owned 15,533 shares in the company, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.06% of the company's stock.
Analysts Set New Price Targets
AAPL has been the subject of several research reports. TD Cowen dropped their price target on shares of Apple from $290.00 to $275.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. DA Davidson boosted their target price on shares of Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Citigroup reiterated a "buy" rating on shares of Apple in a research note on Tuesday, June 10th. Rosenblatt Securities downgraded shares of 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. Finally, Monness Crespi & Hardt boosted their target price on shares of Apple to $245.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $234.94.
Check Out Our Latest Stock Analysis on AAPL
About Apple
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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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