Aberdeen Wealth Management LLC grew its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 7.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,625 shares of the iPhone maker's stock after purchasing an additional 1,863 shares during the quarter. Apple accounts for about 4.7% of Aberdeen Wealth Management LLC's holdings, making the stock its 3rd biggest holding. Aberdeen Wealth Management LLC's holdings in Apple were worth $6,918,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Advanced Portfolio Management LLC boosted its position in shares of Apple by 0.3% during the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock worth $3,260,000 after purchasing an additional 47 shares in the last quarter. Hanseatic Management Services Inc. boosted its position in shares of Apple by 1.3% during the 4th quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker's stock worth $945,000 after purchasing an additional 48 shares in the last quarter. Family Capital Management Inc. boosted its position in shares of Apple by 0.3% during the 4th quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock worth $4,235,000 after purchasing an additional 48 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in shares of Apple by 0.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock worth $4,178,000 after buying an additional 48 shares in the last quarter. Finally, Scarborough Advisors LLC boosted its position in shares of Apple by 0.3% in the 4th quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker's stock worth $3,992,000 after buying an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.
Apple Trading Up 0.5%
Shares of AAPL opened at $196.58 on Friday. The business's 50-day moving average price is $202.29 and its 200 day moving average price is $222.00. The stock has a market capitalization of $2.94 trillion, a P/E ratio of 30.62, a P/E/G ratio of 2.19 and a beta of 1.22. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18.
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 167.24% 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 business posted $1.53 EPS. The business's revenue for the quarter was up 5.1% on a year-over-year basis. Analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.
Apple Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors 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 0.53%. This is a positive change from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. Apple's dividend payout ratio is presently 16.20%.
Apple declared that its board has authorized a share buyback plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on AAPL. Loop Capital cut 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. Morgan Stanley reissued an "overweight" rating on shares of Apple in a research report on Friday, June 13th. KeyCorp upgraded Apple from an "underweight" rating to a "sector weight" rating in a report on Monday, April 14th. China Renaissance began coverage on Apple in a research note on Tuesday, April 22nd. They set a "buy" rating and a $241.00 target price for the company. Finally, Scotiabank lowered Apple to a "market perform" rating in a research report on Friday, May 2nd. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $234.86.
Check Out Our Latest Stock Report on Apple
Insider Activity at Apple
In other Apple news, insider Chris Kondo sold 4,486 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the transaction, the insider now owns 15,533 shares of the company's stock, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the sale, the chief financial officer now directly owns 4,569 shares in the company, valued at approximately $941,214. This represents a 50.01% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,507 shares of company stock worth $42,694,080. 0.06% of the stock is owned by corporate 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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