Campbell Deegan Wealth Management LLC bought a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 8,163 shares of the iPhone maker's stock, valued at approximately $2,044,000. Apple makes up 2.5% of Campbell Deegan Wealth Management LLC's holdings, making the stock its 6th biggest position.
Other hedge funds and other institutional investors have also modified their holdings of the company. Lighthouse Financial LLC acquired a new stake in Apple during the 4th quarter worth $2,943,000. Anchor Pointe Wealth Management LLC acquired a new stake in Apple during the 4th quarter worth $3,269,000. SpringVest Wealth Management LLC acquired a new stake in Apple during the 4th quarter worth $1,533,000. Old North State Trust LLC raised its stake in Apple by 23.9% during the 4th quarter. Old North State Trust LLC now owns 54,348 shares of the iPhone maker's stock worth $13,610,000 after acquiring an additional 10,494 shares in the last quarter. Finally, Mattson Financial Services LLC raised its stake in Apple by 0.5% during the 4th quarter. Mattson Financial Services LLC now owns 34,955 shares of the iPhone maker's stock worth $8,145,000 after acquiring an additional 188 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the stock. Citigroup restated a "buy" rating on shares of Apple in a research note on Tuesday, June 10th. Tigress Financial lifted their price objective on shares of Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a research note on Thursday, April 3rd. China Renaissance assumed coverage on shares of Apple in a research note on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 price objective on the stock. Needham & Company LLC restated a "hold" rating on shares of Apple in a research note on Tuesday, June 10th. Finally, Jefferies Financial Group restated an "underperform" rating and issued a $170.62 price objective (up from $167.88) on shares of Apple in a research note on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $234.86.
Get Our Latest Analysis on Apple
Apple Stock Down 0.6%
NASDAQ AAPL traded down $1.20 during trading hours on Tuesday, reaching $200.30. 53,951,325 shares of the company traded hands, compared to its average volume of 53,512,318. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. 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 stock has a market capitalization of $2.99 trillion, a PE ratio of 31.20, a PEG ratio of 2.25 and a beta of 1.22. The company has a 50 day moving average of $202.33 and a two-hundred day moving average of $221.12.
Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 167.24%. The firm had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. During the same period in the prior year, the firm posted $1.53 EPS. The firm's revenue was up 5.1% compared to the same quarter last year. As a group, equities analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.
Apple Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were given a $0.26 dividend. 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 dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, May 12th. Apple's dividend payout ratio (DPR) is presently 16.20%.
Apple declared that its board has approved a stock buyback plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.
Insider Transactions at Apple
In related news, insider Chris Kondo sold 4,486 shares of Apple 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 in the company, valued at $3,233,815.27. This trade represents a 22.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction 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 represents a 3.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,507 shares of company stock worth $42,694,080. 0.06% of the stock is currently owned by insiders.
Apple Company Profile
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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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