Regatta Capital Group LLC grew its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 7.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 128,733 shares of the iPhone maker's stock after purchasing an additional 8,831 shares during the quarter. Apple comprises approximately 5.5% of Regatta Capital Group LLC's investment portfolio, making the stock its 3rd biggest holding. Regatta Capital Group LLC's holdings in Apple were worth $28,595,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of AAPL. Norges Bank acquired a new stake in Apple during the 4th quarter worth about $46,868,648,000. GAMMA Investing LLC raised its position in shares of Apple by 25,934.1% in the first quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker's stock worth $133,425,490,000 after acquiring an additional 59,835,676 shares during the period. Vanguard Group Inc. raised its position in shares of Apple by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock worth $349,532,608,000 after acquiring an additional 49,168,843 shares during the period. Proficio Capital Partners LLC raised its position in shares of Apple by 23,555.4% in the fourth quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock worth $5,272,653,000 after acquiring an additional 20,966,232 shares during the period. Finally, Northern Trust Corp raised its position in shares of Apple by 13.3% in the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after acquiring an additional 20,079,472 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.
Apple Stock Performance
NASDAQ:AAPL opened at $212.41 on Friday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. The stock has a market capitalization of $3.17 trillion, a P/E ratio of 33.09, a PEG ratio of 2.36 and a beta of 1.20. The company has a 50 day moving average price of $203.27 and a 200 day moving average price of $217.73. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10.
Apple (NASDAQ:AAPL - Get Free Report) last posted 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. The firm had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The firm's quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the company posted $1.53 EPS. Equities research analysts forecast that Apple Inc. will post 7.28 EPS for the current year.
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 issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.49%. This is a positive change from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. Apple's dividend payout ratio (DPR) is presently 16.20%.
Apple declared that its board has approved a share buyback plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its stock is undervalued.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the stock. China Renaissance assumed coverage on shares of Apple in a research report on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 price objective for the company. Barclays set a $173.00 price objective on shares of Apple and gave the stock an "underweight" rating in a research report on Tuesday, June 24th. Raymond James Financial decreased their price objective on shares of Apple from $250.00 to $230.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Tigress Financial upped their price target on shares of Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a research report on Thursday, April 3rd. Finally, UBS Group set a $210.00 price target on shares of Apple and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $235.27.
Check Out Our Latest Stock Analysis on AAPL
Insiders Place Their Bets
In other news, CFO Kevan Parekh sold 4,570 shares of the firm's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value of $941,420.00. Following the sale, the chief financial officer directly owned 4,569 shares in the company, valued at approximately $941,214. This trade represents a 50.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chris Kondo sold 4,486 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the transaction, the insider directly owned 15,533 shares in the company, 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 company 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.
Further Reading
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).
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