Integrated Advisors Network LLC Has $68.64 Million Stake in Apple Inc. (NASDAQ:AAPL)

Integrated Advisors Network LLC lifted its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 6.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 274,104 shares of the iPhone maker's stock after acquiring an additional 15,944 shares during the period. Apple makes up 3.3% of Integrated Advisors Network LLC's portfolio, making the stock its 3rd biggest position. Integrated Advisors Network LLC's holdings in Apple were worth $68,641,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Apple by 3.7% during 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 purchasing an additional 49,168,843 shares in the last quarter. Geode Capital Management LLC increased its stake in Apple by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker's stock worth $84,999,145,000 after buying an additional 6,307,413 shares during the period. Norges Bank acquired a new position in Apple in the 4th quarter worth $46,868,648,000. Northern Trust Corp lifted its holdings in Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after buying an additional 20,079,472 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Apple by 14.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker's stock valued at $26,220,566,000 after buying an additional 13,137,968 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AAPL. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a research report on Tuesday, June 10th. Maxim Group lifted their price objective on Apple to $215.00 and gave the stock a "hold" rating in a report on Friday, February 21st. Monness Crespi & Hardt increased their target price on Apple to $245.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. 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, Citigroup reaffirmed a "buy" rating on shares of Apple in a report on Tuesday, June 10th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $234.86.

Apple Stock Performance

Shares of AAPL traded up $4.42 during midday trading on Friday, hitting $201.00. 95,792,149 shares of the stock traded hands, compared to its average volume of 53,610,148. The business's 50 day moving average price is $202.35 and its two-hundred day moving average price is $221.56. The firm has a market capitalization of $3.00 trillion, a PE ratio of 31.31, a price-to-earnings-growth ratio of 2.24 and a beta of 1.22. 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 Inc. has a 1-year low of $169.21 and a 1-year high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.03. The firm had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. Apple's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the firm posted $1.53 EPS. Equities research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Monday, May 12th. This is a boost from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is 16.20%.

Apple announced that its board has authorized a stock repurchase program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

Insider Activity

In other Apple news, SVP Katherine L. Adams sold 38,822 shares of the business's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the completion of the transaction, the senior vice president now owns 179,158 shares in the company, valued at approximately $40,072,269.86. The trade was a 17.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Timothy D. Cook sold 108,136 shares of the firm's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total value of $24,184,616.40. Following the transaction, the chief executive officer now directly owns 3,280,295 shares in the company, valued at $733,637,976.75. This trade represents a 3.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 191,507 shares of company stock valued at $42,694,080. Insiders own 0.06% of the company's stock.

About Apple

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.