Banque de Luxembourg S.A. Invests $10.48 Million in Apple Inc. (NASDAQ:AAPL)

Banque de Luxembourg S.A. acquired a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 41,669 shares of the iPhone maker's stock, valued at approximately $10,477,000. Apple comprises approximately 5.6% of Banque de Luxembourg S.A.'s investment portfolio, making the stock its 7th biggest holding.

A number of other institutional investors also recently modified their holdings of the stock. Drystone LLC bought a new position in shares of Apple during the 4th quarter worth approximately $25,000. Life Planning Partners Inc acquired a new stake in shares of Apple during the 4th quarter worth about $47,000. Conquis Financial LLC acquired a new position in shares of Apple in the fourth quarter valued at approximately $63,000. LSV Asset Management acquired a new position in shares of Apple in the fourth quarter valued at about $65,000. Finally, SPX Gestao de Recursos Ltda acquired a new stake in shares of Apple in the third quarter valued at approximately $71,000. 67.73% of the stock is owned by institutional investors.

Insider Activity at Apple

In other news, insider Chris Kondo sold 4,486 shares of the 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 completion of the transaction, the insider now directly owns 15,533 shares in the company, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the completion of the sale, the chief operating officer now directly owns 390,059 shares in the company, valued at $87,377,116.59. This trade represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,507 shares of company stock worth $42,694,080 in the last three months. Company insiders own 0.06% of the company's stock.

Apple Stock Performance

Shares of NASDAQ AAPL traded down $2.78 during midday trading on Tuesday, hitting $195.64. 38,709,101 shares of the company's stock traded hands, compared to its average volume of 54,633,249. The firm has a fifty day moving average of $202.28 and a 200 day moving average of $222.66. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. The stock has a market capitalization of $2.92 trillion, a price-to-earnings ratio of 27.99, a price-to-earnings-growth ratio of 2.22 and a beta of 1.22. 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 announced its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping 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 business had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. During the same quarter last year, the firm earned $1.53 earnings per share. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. On average, analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple declared that its board has approved a share buyback plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its stock is undervalued.

Apple Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 0.53%. Apple's payout ratio is currently 16.20%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Maxim Group lifted their price objective on shares of Apple to $215.00 and gave the company a "hold" rating in a research note on Friday, February 21st. Raymond James Financial dropped their target price on shares of Apple from $250.00 to $230.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. The Goldman Sachs Group reissued a "buy" rating on shares of Apple in a research report on Wednesday, May 21st. China Renaissance assumed coverage on Apple in a research note on Tuesday, April 22nd. They set a "buy" rating and a $241.00 target price for the company. Finally, Loop Capital dropped their price objective on shares of Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $234.86.

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.