Breakwater Capital Group Raises Holdings in Apple Inc. (NASDAQ:AAPL)

Breakwater Capital Group boosted its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 87,873 shares of the iPhone maker's stock after buying an additional 3,281 shares during the quarter. Apple accounts for approximately 3.5% of Breakwater Capital Group's holdings, making the stock its 2nd biggest position. Breakwater Capital Group's holdings in Apple were worth $19,519,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Drystone LLC purchased a new stake in shares of Apple during the 4th quarter valued at about $25,000. Life Planning Partners Inc purchased a new stake in shares of Apple during the 4th quarter valued at about $47,000. Conquis Financial LLC purchased a new stake in shares of Apple during the 4th quarter valued at about $63,000. LSV Asset Management purchased a new stake in shares of Apple during the 4th quarter valued at about $65,000. Finally, Pillar Financial Advisors LLC purchased a new stake in shares of Apple during the 4th quarter valued at about $82,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insiders Place Their Bets

In other Apple news, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction 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 owned 4,569 shares in the company, valued at $941,214. This trade represents a 50.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Chris Kondo sold 4,486 shares of the stock in a transaction 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 owned 15,533 shares in the company, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.06% of the company's stock.

Apple Trading Down 1.7%

NASDAQ:AAPL traded down $3.60 during midday trading on Monday, hitting $209.95. 50,065,415 shares of the company traded hands, compared to its average volume of 53,581,624. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. The firm's fifty day moving average is $203.34 and its 200-day moving average is $218.13. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The firm has a market capitalization of $3.14 trillion, a P/E ratio of 32.70, a P/E/G ratio of 2.38 and a beta of 1.20.

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, topping 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 for the quarter, compared to analyst estimates of $94.04 billion. During the same quarter last year, the firm posted $1.53 earnings per share. The business's revenue was up 5.1% compared to the same quarter last year. On average, sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple declared that its board has initiated a share repurchase program on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its shares are undervalued.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a $0.26 dividend. 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. This represents a $1.04 dividend on an annualized basis and a yield of 0.50%. Apple's dividend payout ratio (DPR) is presently 16.20%.

Analysts Set New Price Targets

Several research firms have recently commented on AAPL. JPMorgan Chase & Co. reduced their price target on shares of Apple from $245.00 to $230.00 and set an "overweight" rating for the company in a research report on Thursday, June 26th. Tigress Financial boosted 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. Wedbush reiterated an "outperform" rating and set a $270.00 price objective on shares of Apple in a research note on Tuesday, June 10th. Loop Capital cut their price objective on Apple from $230.00 to $215.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. Finally, TD Cowen cut their price objective on Apple from $290.00 to $275.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Apple presently has a consensus rating of "Moderate Buy" and a consensus target price of $234.95.

Apple Company Profile

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.