Bridgeway Capital Management LLC Has $36.65 Million Stake in Apple Inc. (NASDAQ:AAPL)

Bridgeway Capital Management LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 146,353 shares of the iPhone maker's stock after purchasing an additional 2,117 shares during the quarter. Apple accounts for 0.8% of Bridgeway Capital Management LLC's portfolio, making the stock its 2nd largest position. Bridgeway Capital Management LLC's holdings in Apple were worth $36,650,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AAPL. Drystone LLC bought a new stake in Apple in the 4th quarter valued at $25,000. Conquis Financial LLC acquired a new position in shares of Apple during the 4th quarter worth about $63,000. LSV Asset Management acquired a new position in shares of Apple during the 4th quarter worth about $65,000. Pillar Financial Advisors LLC acquired a new position in shares of Apple during the 4th quarter worth about $82,000. Finally, Compass Planning Associates Inc acquired a new position in shares of Apple during the 4th quarter worth about $96,000. 67.73% of the stock is owned by institutional investors.

Insider Transactions at Apple

In other Apple news, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the sale, the chief executive officer now owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This trade represents a 3.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 38,822 shares of the stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now directly owns 179,158 shares of the company's stock, valued at $40,072,269.86. This represents a 17.81% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 191,507 shares of company stock worth $42,694,080. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on AAPL. Monness Crespi & Hardt lifted their target price on shares of Apple to $245.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. TD Cowen cut their price target on shares of Apple from $290.00 to $275.00 and set a "buy" rating for the company in a report on Friday, May 2nd. KeyCorp raised shares of Apple from an "underweight" rating to a "sector weight" rating in a report on Monday, April 14th. UBS Group reissued a "buy" rating on shares of Apple in a research note on Sunday, June 1st. Finally, Wedbush reissued an "outperform" rating and issued a $270.00 price objective on shares of Apple in a research note on Tuesday, June 10th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned 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, Apple currently has an average rating of "Moderate Buy" and an average price target of $234.86.

Apple Stock Performance

Shares of NASDAQ:AAPL traded down $2.78 during midday trading on Tuesday, reaching $195.64. 38,432,354 shares of the company traded hands, compared to its average volume of 54,632,706. The firm has a market capitalization of $2.92 trillion, a price-to-earnings ratio of 31.05, a price-to-earnings-growth ratio of 2.44 and a beta of 1.22. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The firm's fifty day moving average price is $202.28 and its two-hundred day moving average price is $222.66. 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 announced its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. The business had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%. The company's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.53 EPS. On average, equities analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple declared that its Board of Directors has initiated a stock repurchase program on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its shares are undervalued.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a $0.26 dividend. This is a boost from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, May 12th. Apple's dividend payout ratio is presently 16.20%.

Apple Company 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.