Hudson Valley Investment Advisors Inc. ADV trimmed its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 126,426 shares of the iPhone maker's stock after selling 1,518 shares during the period. Apple accounts for approximately 3.4% of Hudson Valley Investment Advisors Inc. ADV's holdings, making the stock its 7th largest holding. Hudson Valley Investment Advisors Inc. ADV's holdings in Apple were worth $28,083,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Apple in the 4th quarter valued at about $46,868,648,000. GAMMA Investing LLC lifted its stake in shares of Apple by 25,934.1% in the 1st quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker's stock valued at $133,425,490,000 after purchasing an additional 59,835,676 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Apple by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock valued at $349,532,608,000 after purchasing an additional 49,168,843 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in shares of Apple by 23,555.4% in the 4th quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock valued at $5,272,653,000 after purchasing an additional 20,966,232 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after purchasing an additional 20,079,472 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, CFO Kevan Parekh sold 4,570 shares of the business'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 completion of the sale, the chief financial officer directly owned 4,569 shares in the company, valued at approximately $941,214. The trade was a 50.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction that occurred 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 owned 15,533 shares of the company's stock, valued at $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.
Apple Stock Up 0.4%
AAPL stock traded up $0.92 during midday trading on Friday, hitting $213.36. 34,955,836 shares of the company's stock were exchanged, compared to its average volume of 53,594,994. 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 Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The firm has a 50 day moving average price of $203.35 and a 200-day moving average price of $218.66. The stock has a market capitalization of $3.19 trillion, a price-to-earnings ratio of 33.23, a price-to-earnings-growth ratio of 2.38 and a beta of 1.20.
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, beating analysts' consensus estimates of $1.62 by $0.03. Apple had a return on equity of 167.24% and a net margin of 24.30%. The business had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. During the same period in the previous year, the business earned $1.53 EPS. The business's quarterly revenue was up 5.1% on a year-over-year basis. On average, analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.
Apple announced that its Board of Directors has authorized a share buyback plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its shares are undervalued.
Apple Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.49%. This is an increase 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 16.20%.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on AAPL. Scotiabank lowered Apple to a "market perform" rating in a research note on Friday, May 2nd. Tigress Financial lifted their price objective on Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a research note on Thursday, April 3rd. Rosenblatt Securities lowered Apple from a "buy" rating to a "neutral" rating and set a $217.00 price objective on the stock. in a research note on Friday, May 2nd. Bank of America reaffirmed a "buy" rating and issued a $235.00 price objective on shares of Apple in a research note on Tuesday, June 10th. Finally, Wedbush reissued an "outperform" rating and set a $270.00 price target on shares of Apple in a research report on Tuesday, June 10th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $234.95.
View 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.
Featured Articles
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
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
