Berkeley Inc cut its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 50.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,643 shares of the iPhone maker's stock after selling 2,643 shares during the quarter. Berkeley Inc's holdings in Apple were worth $662,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Regent Peak Wealth Advisors LLC boosted its stake in Apple by 0.9% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 111,858 shares of the iPhone maker's stock worth $28,012,000 after purchasing an additional 1,050 shares during the period. RMR Wealth Builders raised its stake in shares of Apple by 0.7% during the 4th quarter. RMR Wealth Builders now owns 119,262 shares of the iPhone maker's stock worth $29,866,000 after purchasing an additional 786 shares in the last quarter. Unique Wealth LLC lifted its stake in Apple by 9.7% in the fourth quarter. Unique Wealth LLC now owns 23,597 shares of the iPhone maker's stock valued at $5,909,000 after acquiring an additional 2,093 shares during the last quarter. Traveka Wealth LLC lifted its stake in Apple by 8.0% in the 4th quarter. Traveka Wealth LLC now owns 26,817 shares of the iPhone maker's stock valued at $6,715,000 after purchasing an additional 1,987 shares during the last quarter. Finally, Gunderson Capital Management Inc. boosted its stake in shares of Apple by 13.4% during the 4th quarter. Gunderson Capital Management Inc. now owns 7,931 shares of the iPhone maker's stock worth $1,986,000 after acquiring an additional 938 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.
Apple Stock Up 0.0%
Shares of AAPL traded up $0.08 during trading hours on Friday, reaching $201.08. The stock had a trading volume of 72,532,193 shares, compared to its average volume of 53,460,127. The company has a market capitalization of $3.00 trillion, a price-to-earnings ratio of 31.32, a P/E/G ratio of 2.25 and a beta of 1.22. The firm has a 50-day simple moving average of $202.52 and a 200 day simple moving average of $220.53. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10.
Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. The firm had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. The company's revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.53 EPS. Equities research analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple announced that its board has initiated a stock buyback program on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.
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 given a dividend of $0.26 per share. The ex-dividend date was Monday, May 12th. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. This is a boost from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio (DPR) is currently 16.20%.
Insiders Place Their Bets
In other Apple news, CEO Timothy D. Cook sold 108,136 shares of the 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 sale, the chief executive officer now owns 3,280,295 shares in the company, valued at $733,637,976.75. This represents a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Katherine L. Adams sold 38,822 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total value of $8,683,316.74. Following the sale, the senior vice president now directly owns 179,158 shares in the company, valued at $40,072,269.86. This trade represents a 17.81% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 191,507 shares of company stock valued at $42,694,080. Insiders own 0.06% of the company's stock.
Analysts Set New Price Targets
A number of brokerages recently commented on AAPL. Barclays set a $173.00 price target on shares of Apple and gave the company an "underweight" rating in a research note on Tuesday. TD Cowen reduced their price objective on shares of Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. JPMorgan Chase & Co. decreased their price target on Apple from $245.00 to $230.00 and set an "overweight" rating on the stock in a research note on Thursday. DA Davidson upped their price objective on shares of Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Finally, Tigress Financial increased their target price on Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a research report on Thursday, April 3rd. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $234.39.
Check Out Our Latest Analysis on AAPL
Apple Company Profile
(
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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