Cardiff Park Advisors LLC reduced its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 118,773 shares of the iPhone maker's stock after selling 2,358 shares during the period. Apple makes up approximately 2.8% of Cardiff Park Advisors LLC's portfolio, making the stock its 7th biggest position. Cardiff Park Advisors LLC's holdings in Apple were worth $29,743,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently bought and sold shares of AAPL. Norges Bank purchased a new position in shares of Apple during the 4th quarter worth approximately $46,868,648,000. Vanguard Group Inc. boosted its position in shares of Apple by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock worth $349,532,608,000 after buying an additional 49,168,843 shares during the period. Proficio Capital Partners LLC grew its stake in shares of Apple by 23,555.4% in the fourth quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock valued at $5,272,653,000 after buying an additional 20,966,232 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after buying an additional 20,079,472 shares during the period. Finally, Demars Financial Group LLC boosted its holdings in Apple by 24,931.3% during the 4th quarter. Demars Financial Group LLC now owns 10,368,233 shares of the iPhone maker's stock valued at $2,596,413,000 after acquiring an additional 10,326,812 shares during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on AAPL. Evercore ISI increased their target price on shares of Apple to $250.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research note on Tuesday, June 10th. KeyCorp upgraded shares of Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. Jefferies Financial Group reiterated an "underperform" rating and issued a $170.62 price target (up previously from $167.88) on shares of Apple in a research note on Friday, May 2nd. Finally, Tigress Financial increased their price objective on shares of Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a research report on Thursday, April 3rd. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $234.86.
Read Our Latest Report on Apple
Apple Stock Performance
AAPL traded down $2.78 on Tuesday, hitting $195.64. 38,709,101 shares of the company traded hands, compared to its average volume of 54,633,249. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The company has a 50 day moving average of $202.28 and a 200-day moving average of $222.66. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $2.92 trillion, a PE ratio of 27.99, a PEG ratio of 2.22 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 167.24% and a net margin of 24.30%. The business had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. During the same quarter in the previous year, the company posted $1.53 earnings per share. The company's revenue for the quarter was up 5.1% compared to the same quarter last year. Sell-side analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.
Apple Increases Dividend
The company also recently disclosed 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 dividend on an annualized basis and a yield of 0.53%. This is an increase from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio is presently 16.20%.
Apple declared that its Board of Directors has authorized a share buyback 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 buy up to 3.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.
Insider Transactions at Apple
In other news, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction dated 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 approximately $87,377,116.59. The trade was a 8.34% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 191,507 shares of company stock worth $42,694,080. Company insiders own 0.06% of the company's stock.
Apple 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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