Beese Fulmer Investment Management Inc. grew its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 0.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 310,364 shares of the iPhone maker's stock after buying an additional 1,437 shares during the period. Apple accounts for approximately 5.9% of Beese Fulmer Investment Management Inc.'s holdings, making the stock its biggest holding. Beese Fulmer Investment Management Inc.'s holdings in Apple were worth $68,941,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Apple by 3.7% during 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 purchasing an additional 49,168,843 shares during the period. Geode Capital Management LLC boosted its position in shares of Apple by 1.9% in the fourth 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 stake in shares of Apple in the fourth quarter valued at about $46,868,648,000. Northern Trust Corp raised its holdings in shares of Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after buying an additional 20,079,472 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Apple by 14.3% during 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 period. 67.73% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Apple
In other news, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider now directly owns 15,533 shares of the company's stock, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 108,136 shares of the company's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the completion of the sale, the chief executive officer now directly owns 3,280,295 shares of the company's stock, valued at $733,637,976.75. The trade was a 3.19% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 191,507 shares of company stock worth $42,694,080. Company insiders own 0.06% of the company's stock.
Wall Street Analysts Forecast Growth
AAPL has been the subject of several recent research reports. Barclays set a $173.00 price objective on shares of Apple and gave the company an "underweight" rating in a research report on Tuesday. Citigroup restated a "buy" rating on shares of Apple in a research note on Tuesday, June 10th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Apple in a research note on Wednesday, May 21st. Scotiabank cut shares of Apple to a "market perform" rating in a research report on Friday, May 2nd. Finally, Loop Capital decreased their price objective on shares of Apple from $230.00 to $215.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $234.39.
View Our Latest Stock Analysis on Apple
Apple Stock Performance
AAPL stock traded up $0.08 during mid-day trading on Friday, reaching $201.08. The company had a trading volume of 73,073,177 shares, compared to its average volume of 53,462,167. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The stock has a market capitalization of $3.00 trillion, a P/E ratio of 31.32, a P/E/G ratio of 2.25 and a beta of 1.22. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. The stock's 50-day simple moving average is $202.52 and its two-hundred day simple moving average is $220.53.
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. Apple had a net margin of 24.30% and a return on equity of 167.24%. The firm had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. During the same period last year, the firm posted $1.53 EPS. Apple's quarterly revenue was up 5.1% compared to the same quarter last year. Research analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.
Apple declared that its board has approved a stock buyback plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.
Apple Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were given a dividend of $0.26 per share. 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 dividend yield of 0.52%. Apple's payout ratio is currently 16.20%.
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.
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