Atlanta Consulting Group Advisors LLC cut its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 8.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 18,521 shares of the iPhone maker's stock after selling 1,799 shares during the period. Apple makes up about 1.7% of Atlanta Consulting Group Advisors LLC's investment portfolio, making the stock its 11th largest holding. Atlanta Consulting Group Advisors LLC's holdings in Apple were worth $4,638,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. State Street Corp grew its stake in shares of Apple by 10.6% in the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock worth $136,074,372,000 after acquiring an additional 55,935,105 shares during the period. Proficio Capital Partners LLC lifted its holdings in shares of Apple by 23,555.4% in the fourth quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock worth $5,272,653,000 after buying an additional 20,966,232 shares in the last quarter. Geode Capital Management LLC raised its stake in Apple by 6.5% during the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock valued at $77,542,863,000 after purchasing an additional 20,483,787 shares in the last quarter. FMR LLC grew its holdings in shares of Apple by 5.3% in the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock worth $84,779,231,000 after purchasing an additional 18,224,005 shares during the last quarter. Finally, Strategic Financial Concepts LLC grew its holdings in Apple by 25,285.2% during the 4th quarter. Strategic Financial Concepts LLC now owns 9,628,864 shares of the iPhone maker's stock worth $2,411,260,000 after acquiring an additional 9,590,933 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.
Apple Stock Down 0.5%
Shares of Apple stock traded down $1.09 on Thursday, reaching $199.33. 31,755,605 shares of the company were exchanged, compared to its average volume of 56,135,340. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a market cap of $2.98 trillion, a P/E ratio of 31.65, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The stock's 50 day moving average price is $204.01 and its 200-day moving average price is $225.36.
Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.03. The firm had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%. The firm's revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.53 earnings per share. As a group, equities analysts forecast that Apple Inc. will post 7.28 EPS for the current year.
Apple Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a $0.26 dividend. The ex-dividend date was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.52%. This is a boost from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is currently 16.20%.
Apple announced that its board has approved a share repurchase 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 buy up to 3.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on AAPL. Oppenheimer cut shares of Apple from an "outperform" rating to a "market perform" rating in a report on Wednesday, January 29th. The Goldman Sachs Group reiterated a "buy" rating on shares of Apple in a report on Wednesday, May 21st. Bank of America dropped their price objective on shares of Apple from $250.00 to $240.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Maxim Group lifted their price target on shares of Apple to $215.00 and gave the company a "hold" rating in a research note on Friday, February 21st. Finally, Argus upgraded Apple to a "strong-buy" rating in a report on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $235.80.
Check Out Our Latest Report on AAPL
Insider Transactions at Apple
In related news, CEO Timothy D. Cook sold 108,136 shares of the company's stock in a transaction on 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 transaction, the chief executive officer now owns 3,280,295 shares of the company's stock, valued at $733,637,976.75. This represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Jeffrey E. Williams sold 35,493 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the transaction, the chief operating officer now directly owns 390,059 shares in the company, valued at $87,377,116.59. This represents a 8.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,507 shares of company stock worth $42,694,080 over the last 90 days. 0.06% of the stock is currently owned by insiders.
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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