Parallel Advisors LLC Buys 72,844 Shares of Apple Inc. (NASDAQ:AAPL)

Parallel Advisors LLC lifted its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 8.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 926,914 shares of the iPhone maker's stock after purchasing an additional 72,844 shares during the quarter. Apple accounts for approximately 4.4% of Parallel Advisors LLC's investment portfolio, making the stock its 4th largest position. Parallel Advisors LLC's holdings in Apple were worth $205,881,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of research firms recently commented on AAPL. Loop Capital dropped their price target on shares of Apple from $230.00 to $215.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. Barclays set a $173.00 price objective on shares of Apple and gave the stock an "underweight" rating in a research note on Tuesday. Bank of America restated a "buy" rating and set a $235.00 target price on shares of Apple in a research report on Tuesday, June 10th. Wedbush reiterated an "outperform" rating and issued a $270.00 price target on shares of Apple in a report on Tuesday, June 10th. Finally, China Renaissance started coverage on Apple in a research note on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price target for the company. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $234.39.

Apple Stock Up 0.0%

AAPL stock traded up $0.08 during trading on Friday, hitting $201.08. 73,093,456 shares of the company's stock traded hands, compared to its average volume of 53,477,308. The firm has a market capitalization of $3.00 trillion, a P/E ratio of 31.32, a PEG ratio of 2.24 and a beta of 1.22. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. 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 business has a fifty day simple moving average of $202.52 and a two-hundred day simple moving average of $220.53.

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 (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 business 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 business posted $1.53 EPS. The business's revenue was up 5.1% compared to the same quarter last year. Sell-side analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

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 paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.52%. This is an increase from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. Apple's dividend payout ratio (DPR) is 16.20%.

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

Insider Buying and Selling

In related news, CEO Timothy D. Cook sold 108,136 shares of Apple 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of the company's stock in a transaction 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 sale, the chief financial officer now directly owns 4,569 shares in the company, valued at approximately $941,214. The trade was a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,507 shares of company stock worth $42,694,080 in the last ninety days. 0.06% of the stock is owned by insiders.

Apple 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.