Apple Inc. (NASDAQ:AAPL) Shares Acquired by Breakwater Capital Group

Breakwater Capital Group raised its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 87,873 shares of the iPhone maker's stock after purchasing an additional 3,281 shares during the quarter. Apple makes up about 3.5% of Breakwater Capital Group's portfolio, making the stock its 2nd biggest holding. Breakwater Capital Group's holdings in Apple were worth $19,519,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Drystone LLC bought a new position in shares of Apple during the 4th quarter worth approximately $25,000. Conquis Financial LLC acquired a new stake in Apple during the 4th quarter valued at $63,000. LSV Asset Management bought a new position in Apple during the fourth quarter worth $65,000. Pillar Financial Advisors LLC acquired a new position in shares of Apple in the fourth quarter valued at $82,000. Finally, Compass Planning Associates Inc acquired a new position in shares of Apple in the fourth quarter valued at $96,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Price Performance

Shares of Apple stock traded up $0.92 during midday trading on Friday, hitting $213.36. 34,955,836 shares of the company traded hands, compared to its average volume of 53,594,994. The firm's fifty day moving average price is $203.35 and its 200-day moving average price is $218.66. The stock has a market cap of $3.19 trillion, a price-to-earnings ratio of 33.23, a PEG ratio of 2.38 and a beta of 1.20. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS 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 company had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. During the same period in the prior year, the company earned $1.53 EPS. Apple's revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple declared that its Board of Directors has approved a share repurchase program on Thursday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were given a $0.26 dividend. The ex-dividend date was Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.49%. Apple's dividend payout ratio (DPR) is currently 16.20%.

Insider Transactions at Apple

In other news, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the sale, the insider directly owned 15,533 shares in the company, 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 document filed with the SEC, which is accessible through the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of the firm's stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the transaction, the chief financial officer owned 4,569 shares of the company's stock, valued at approximately $941,214. This trade represents a 50.01% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of research reports. Citigroup restated a "buy" rating on shares of Apple in a research note on Tuesday, June 10th. JPMorgan Chase & Co. cut their price objective 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. TD Cowen reduced their price objective on Apple from $290.00 to $275.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Wedbush reiterated an "outperform" rating and set a $270.00 target price on shares of Apple in a research note on Tuesday, June 10th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Apple in a report on Tuesday, June 10th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target 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.