Biltmore Family Office LLC Has $190.34 Million Position in Apple Inc. (NASDAQ:AAPL)

Biltmore Family Office LLC trimmed its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 760,075 shares of the iPhone maker's stock after selling 29,131 shares during the period. Apple comprises approximately 32.0% of Biltmore Family Office LLC's holdings, making the stock its largest holding. Biltmore Family Office LLC's holdings in Apple were worth $190,338,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Drystone LLC acquired a new position in Apple in the fourth quarter valued at approximately $25,000. SPX Gestao de Recursos Ltda bought a new stake in shares of Apple during the 3rd quarter valued at $71,000. Pillar Financial Advisors LLC bought a new stake in shares of Apple during the 4th quarter valued at $82,000. Compass Planning Associates Inc acquired a new position in shares of Apple in the 4th quarter valued at $96,000. Finally, Collier Financial bought a new position in shares of Apple in the 4th quarter worth $140,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the sale, the insider now directly owns 15,533 shares of the company's stock, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 35,493 shares of the firm's stock in a transaction dated 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 owns 390,059 shares of the company's stock, 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 over the last quarter. 0.06% of the stock is currently owned by insiders.

Apple Stock Up 0.0%

NASDAQ:AAPL traded up $0.06 on Thursday, hitting $198.84. 14,546,869 shares of the company's stock were exchanged, compared to its average volume of 55,449,083. The firm has a 50-day moving average price of $200.92 and a 200-day moving average price of $223.60. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. 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 company has a market cap of $2.97 trillion, a P/E ratio of 31.56, a price-to-earnings-growth ratio of 2.44 and a beta of 1.22.

Apple (NASDAQ:AAPL - Get Free Report) last released its 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 160.83% 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 quarter in the previous year, the business earned $1.53 earnings per share. Apple's quarterly revenue was up 5.1% on a year-over-year basis. As a group, analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

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

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis 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 payout ratio is presently 16.20%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AAPL. Citigroup reiterated a "buy" rating on shares of Apple in a report on Tuesday. Wedbush restated an "outperform" rating and set a $270.00 target price on shares of Apple in a research report on Tuesday. The Goldman Sachs Group reiterated a "buy" rating on shares of Apple in a research report on Wednesday, May 21st. Morgan Stanley reaffirmed an "overweight" rating and issued a $235.00 target price on shares of Apple in a research note on Thursday, June 5th. Finally, Bank of America reissued a "buy" rating and set a $235.00 price target on shares of Apple in a research report on Tuesday. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Apple presently has a consensus rating of "Moderate Buy" and a consensus target price of $234.86.

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.