Cache Advisors LLC Buys New Stake in Apple Inc. (NASDAQ:AAPL)

Cache Advisors LLC acquired a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 124,467 shares of the iPhone maker's stock, valued at approximately $31,169,000. Apple makes up about 11.7% of Cache Advisors LLC's portfolio, making the stock its largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AAPL. Drystone LLC acquired a new position in Apple in the 4th quarter valued at about $25,000. Conquis Financial LLC purchased a new position in shares of Apple in the 4th quarter valued at approximately $63,000. LSV Asset Management acquired a new position in shares of Apple in the fourth quarter valued at approximately $65,000. Pillar Financial Advisors LLC purchased a new stake in shares of Apple during the fourth quarter worth approximately $82,000. Finally, Compass Planning Associates Inc acquired a new stake in shares of Apple during the fourth quarter worth $96,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Stock Performance

NASDAQ:AAPL opened at $196.58 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $2.94 trillion, a P/E ratio of 30.62, a price-to-earnings-growth ratio of 2.18 and a beta of 1.22. The firm has a 50-day moving average price of $202.17 and a two-hundred day moving average price of $222.30. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $94.04 billion. During the same period in the prior year, the business earned $1.53 earnings per share. The company's quarterly revenue was up 5.1% on a year-over-year basis. As a group, research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders 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 0.53%. The ex-dividend date of this dividend was Monday, May 12th. This is a boost from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio is 16.20%.

Apple declared that its Board of Directors has authorized a stock buyback plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research report on Tuesday, June 10th. UBS Group reaffirmed a "buy" rating on shares of Apple in a report on Sunday, June 1st. Scotiabank lowered shares of Apple to a "market perform" rating in a research note on Friday, May 2nd. DA Davidson increased their price target on shares of Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, Bank of America reaffirmed a "buy" rating and issued a $235.00 price objective on shares of Apple in a report on Tuesday, June 10th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Apple has an average rating of "Moderate Buy" and a consensus price target of $234.86.

Insiders Place Their Bets

In other news, CEO Timothy D. Cook sold 108,136 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the transaction, the chief executive officer now owns 3,280,295 shares of the company's stock, valued at $733,637,976.75. The trade was a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider now directly owns 15,533 shares in the company, valued at $3,233,815.27. The trade was a 22.41% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 191,507 shares of company stock valued at $42,694,080. Corporate insiders own 0.06% of the company's stock.

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.

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