Castleark Management LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 16.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 677,429 shares of the iPhone maker's stock after purchasing an additional 97,730 shares during the period. Apple accounts for about 5.9% of Castleark Management LLC's holdings, making the stock its biggest position. Castleark Management LLC's holdings in Apple were worth $169,642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently modified their holdings of AAPL. O Connor Financial Group LLC raised its stake in shares of Apple by 1.2% in the fourth quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker's stock worth $896,000 after acquiring an additional 41 shares during the last quarter. Advanced Portfolio Management LLC grew its position in shares of Apple by 0.3% during the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock worth $3,260,000 after buying an additional 47 shares during the period. Hanseatic Management Services Inc. raised its stake in shares of Apple by 1.3% during the fourth quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker's stock worth $945,000 after buying an additional 48 shares during the last quarter. Family Capital Management Inc. lifted its holdings in Apple by 0.3% in the fourth quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock valued at $4,235,000 after buying an additional 48 shares during the period. Finally, Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in Apple by 0.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock valued at $4,178,000 after buying an additional 48 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.
Apple Stock Up 2.2%
Shares of AAPL stock traded up $4.42 during trading on Friday, reaching $201.00. The company's stock had a trading volume of 95,792,149 shares, compared to its average volume of 53,610,148. The business has a fifty day moving average price of $202.35 and a 200-day moving average price of $221.56. 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 company has a market cap of $3.00 trillion, a price-to-earnings ratio of 31.31, a price-to-earnings-growth ratio of 2.24 and a beta of 1.22. Apple Inc. has a one year low of $169.21 and a one year high of $260.10.
Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS 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 net margin of 24.30% and a return on equity of 167.24%. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.53 earnings per share. Analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.
Apple announced that its board has initiated a stock buyback program on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its stock is undervalued.
Apple Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were given a $0.26 dividend. 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. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is currently 16.20%.
Insider Transactions at Apple
In other Apple news, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of the company's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the sale, the chief financial officer now directly owns 4,569 shares in the company, valued at $941,214. This trade represents a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,507 shares of company stock valued at $42,694,080 over the last 90 days. 0.06% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on AAPL shares. KeyCorp upgraded shares of Apple from an "underweight" rating to a "sector weight" rating in a report on Monday, April 14th. Barclays cut their price objective on shares of Apple from $197.00 to $173.00 and set an "underweight" rating on the stock in a report on Wednesday, April 30th. China Renaissance started coverage on shares of Apple in a report on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 price objective on the stock. DA Davidson increased their price objective on shares of Apple from $230.00 to $250.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Finally, UBS Group restated a "buy" rating on shares of Apple in a report on Sunday, June 1st. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $234.86.
Read Our Latest Stock Report on AAPL
Apple Profile
(
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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