Charter Research & Investment Group Inc. lowered its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 3.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,731 shares of the iPhone maker's stock after selling 2,671 shares during the period. Apple makes up approximately 13.3% of Charter Research & Investment Group Inc.'s portfolio, making the stock its biggest holding. Charter Research & Investment Group Inc.'s holdings in Apple were worth $17,462,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Drystone LLC acquired a new position in Apple during the 4th quarter worth approximately $25,000. Life Planning Partners Inc acquired a new stake in Apple in the fourth quarter valued at approximately $47,000. SPX Gestao de Recursos Ltda purchased a new stake in shares of Apple during the third quarter valued at approximately $71,000. Pillar Financial Advisors LLC purchased a new stake in shares of Apple during the fourth quarter valued at approximately $82,000. Finally, Compass Planning Associates Inc acquired a new position in shares of Apple during the fourth quarter worth $96,000. Institutional investors and hedge funds own 67.73% of the company's stock.
Apple Price Performance
Shares of AAPL stock opened at $203.92 on Friday. The stock has a 50-day moving average price of $201.17 and a 200 day moving average price of $224.15. 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 firm has a market cap of $3.05 trillion, a price-to-earnings ratio of 32.37, a PEG ratio of 2.44 and a beta of 1.22. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10.
Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. The business had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%. The firm's revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.53 earnings per share. Research analysts expect that Apple Inc. will post 7.28 EPS for the current year.
Apple declared that its Board of Directors has approved a share repurchase plan 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 plans are generally an indication that the company's board of directors believes its stock is undervalued.
Apple Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were given a dividend of $0.26 per share. This is an increase from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. This represents a $1.04 annualized dividend and a dividend yield of 0.51%. Apple's dividend payout ratio is currently 16.20%.
Insider Buying and Selling
In related news, insider Chris Kondo sold 4,486 shares of Apple 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 sale, the insider now owns 15,533 shares of the company's stock, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of the company's stock in a transaction that occurred on 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 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. Insiders have sold a total of 191,507 shares of company stock worth $42,694,080 over the last ninety days. Company insiders own 0.06% of the company's stock.
Analyst Ratings Changes
A number of analysts have recently issued reports on AAPL shares. DA Davidson lifted their target price on Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Scotiabank lowered Apple to a "market perform" rating in a research note on Friday, May 2nd. TD Cowen cut their target price on Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Barclays decreased their price target on shares of Apple from $197.00 to $173.00 and set an "underweight" rating for the company in a research report on Wednesday, April 30th. Finally, Bank of America dropped their price target on shares of Apple from $250.00 to $240.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $235.02.
Read Our Latest Research Report on Apple
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Apple, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Apple wasn't on the list.
While Apple currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
