Sollinda Capital Management LLC raised its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 92.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,766 shares of the iPhone maker's stock after purchasing an additional 8,051 shares during the period. Apple comprises 1.2% of Sollinda Capital Management LLC's investment portfolio, making the stock its 14th biggest position. Sollinda Capital Management LLC's holdings in Apple were worth $4,198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also made changes to their positions in AAPL. Carrera Capital Advisors increased its holdings in shares of Apple by 30.2% in the 3rd quarter. Carrera Capital Advisors now owns 10,367 shares of the iPhone maker's stock valued at $2,415,000 after acquiring an additional 2,405 shares during the last quarter. RPG Investment Advisory LLC lifted its stake in Apple by 2.0% during the third quarter. RPG Investment Advisory LLC now owns 135,857 shares of the iPhone maker's stock worth $31,655,000 after purchasing an additional 2,684 shares during the last quarter. Live Oak Investment Partners boosted its holdings in Apple by 1.5% in the third quarter. Live Oak Investment Partners now owns 12,300 shares of the iPhone maker's stock valued at $2,866,000 after purchasing an additional 183 shares in the last quarter. Community Bank & Trust Waco Texas increased its stake in Apple by 0.6% in the third quarter. Community Bank & Trust Waco Texas now owns 216,411 shares of the iPhone maker's stock valued at $50,424,000 after purchasing an additional 1,197 shares during the last quarter. Finally, Chase Investment Counsel Corp raised its holdings in Apple by 2.8% during the third quarter. Chase Investment Counsel Corp now owns 34,856 shares of the iPhone maker's stock worth $8,121,000 after purchasing an additional 965 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.
Insider Transactions at Apple
In other news, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This trade represents a 3.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the sale, the insider now owns 15,533 shares in the company, valued at approximately $3,233,815.27. This represents a 22.41% 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 valued at $42,694,080 in the last ninety days. 0.06% of the stock is currently owned by company insiders.
Apple Price Performance
Shares of AAPL opened at $206.86 on Wednesday. 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 stock's 50 day moving average is $205.87 and its two-hundred day moving average is $226.43. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The firm has a market capitalization of $3.09 trillion, a PE ratio of 32.83, a P/E/G ratio of 2.44 and a beta of 1.27.
Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating 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 firm had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. During the same period in the previous year, the business earned $1.53 earnings per share. The company's revenue for the quarter was up 5.1% compared to the same quarter last year. Research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.
Apple declared that its Board of Directors has initiated a stock buyback program on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.
Apple Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were given a dividend of $0.26 per share. This is a positive change from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Monday, May 12th. Apple's payout ratio is presently 16.20%.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on the stock. Jefferies Financial Group restated an "underperform" rating and issued a $170.62 target price (up previously from $167.88) on shares of Apple in a report on Friday, May 2nd. Evercore ISI raised their price objective on Apple from $260.00 to $275.00 and gave the stock an "outperform" rating in a report on Tuesday, March 18th. Bank of America cut their target price on Apple from $250.00 to $240.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Redburn Partners set a $230.00 target price on Apple in a research report on Friday, January 31st. Finally, The Goldman Sachs Group cut their price target on Apple from $259.00 to $256.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Four 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. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $235.80.
View Our Latest Stock Report on Apple
Apple Company Profile
(
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.
Further Reading
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