Chapman Financial Group LLC Makes New $6.93 Million Investment in Apple Inc. (NASDAQ:AAPL)

Chapman Financial Group LLC acquired a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 27,667 shares of the iPhone maker's stock, valued at approximately $6,928,000. Apple accounts for approximately 5.5% of Chapman Financial Group LLC's holdings, making the stock its largest position.

Several other institutional investors have also recently made changes to their positions in the company. Castellan Group grew its position in shares of Apple by 206.9% in the 3rd quarter. Castellan Group now owns 5,782 shares of the iPhone maker's stock worth $1,347,000 after buying an additional 3,898 shares during the last quarter. American Trust increased its position in shares of Apple by 7.1% during the third quarter. American Trust now owns 77,292 shares of the iPhone maker's stock worth $18,009,000 after purchasing an additional 5,118 shares in the last quarter. Inspire Trust Co. N.A. lifted its holdings in shares of Apple by 6.0% during the 3rd quarter. Inspire Trust Co. N.A. now owns 37,654 shares of the iPhone maker's stock valued at $8,773,000 after purchasing an additional 2,126 shares during the last quarter. Oriental Harbor Investment Fund acquired a new stake in shares of Apple in the 3rd quarter worth $89,178,000. Finally, Boulder Wealth Advisors LLC grew its stake in Apple by 1.3% during the 3rd quarter. Boulder Wealth Advisors LLC now owns 6,685 shares of the iPhone maker's stock worth $1,558,000 after buying an additional 86 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Stock Performance

Shares of NASDAQ AAPL traded down $2.78 during midday trading on Tuesday, reaching $195.64. 38,709,101 shares of the company traded hands, compared to its average volume of 54,633,249. The company has a market cap of $2.92 trillion, a price-to-earnings ratio of 27.99, a PEG ratio of 2.22 and a beta of 1.22. The stock has a 50-day moving average price of $202.28 and a 200 day moving average price of $222.66. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $94.04 billion. During the same quarter in the prior year, the firm posted $1.53 earnings per share. The company's revenue was up 5.1% on a year-over-year basis. Sell-side analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were paid a dividend of $0.26 per share. The ex-dividend date was Monday, May 12th. This is a positive change from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.53%. Apple's dividend payout ratio is currently 16.20%.

Apple announced that its board has initiated a share buyback plan on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AAPL. Barclays decreased their price target on shares of Apple from $197.00 to $173.00 and set an "underweight" rating for the company in a report on Wednesday, April 30th. Loop Capital dropped their price target on Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Evercore ISI raised their price objective on Apple to $250.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. UBS Group reaffirmed a "buy" rating on shares of Apple in a report on Sunday, June 1st. Finally, DA Davidson lifted their price objective on Apple from $230.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $234.86.

Insider Buying and Selling

In other news, COO Jeffrey E. Williams sold 35,493 shares of the stock in a transaction on Wednesday, April 2nd. The stock was 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 in the company, valued at approximately $87,377,116.59. This represents a 8.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 38,822 shares of Apple stock in a transaction 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 owns 179,158 shares in the company, valued at $40,072,269.86. The trade was a 17.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,507 shares of company stock worth $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.