Arvest Investments Inc. lifted its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 9.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,396 shares of the iPhone maker's stock after buying an additional 1,725 shares during the period. Arvest Investments Inc.'s holdings in Apple were worth $4,309,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings 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 worth $349,532,608,000 after acquiring an additional 49,168,843 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Apple by 1.9% in 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 acquiring an additional 6,307,413 shares during the last quarter. Norges Bank acquired a new position in shares of Apple in the 4th quarter worth $46,868,648,000. Northern Trust Corp grew its holdings 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 worth $42,918,365,000 after acquiring an additional 20,079,472 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of 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 worth $26,220,566,000 after acquiring an additional 13,137,968 shares during the last quarter. Institutional investors own 67.73% of the company's stock.
Wall Street Analysts Forecast Growth
AAPL has been the topic of a number of recent research reports. Needham & Company LLC restated a "hold" rating on shares of Apple in a report on Tuesday, June 10th. Citigroup restated a "buy" rating on shares of Apple in a report on Tuesday, June 10th. Raymond James Financial decreased their target price on Apple from $250.00 to $230.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. TD Cowen decreased their target price on Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, China Renaissance started coverage on Apple in a report on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and a consensus target price of $235.27.
Read Our Latest Report on AAPL
Apple Price Performance
Shares of NASDAQ:AAPL opened at $211.16 on Monday. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The business has a 50-day moving average of $203.39 and a two-hundred day moving average of $216.83. The stock has a market capitalization of $3.15 trillion, a P/E ratio of 32.89, a P/E/G ratio of 2.36 and a beta of 1.20. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78.
Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly 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 company had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. During the same quarter in the previous year, the firm earned $1.53 earnings per share. The business's quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, May 12th. This is a boost from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is currently 16.20%.
Apple declared that its Board of Directors has approved a stock repurchase program on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.
Insider Activity
In related news, CFO Kevan Parekh sold 4,570 shares of the business's stock in a transaction dated Wednesday, April 23rd. The stock was 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. The trade was a 50.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $933,940.34. Following the transaction, the insider directly owned 15,533 shares of the company's stock, valued at $3,233,815.27. This represents a 22.41% decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.
Apple Profile
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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.
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