Collar Capital Management LLC purchased a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 18,924 shares of the iPhone maker's stock, valued at approximately $4,739,000. Apple accounts for approximately 3.9% of Collar Capital Management LLC's investment portfolio, making the stock its 3rd largest position.
A number of other hedge funds and other institutional investors have also bought and sold shares of AAPL. Norges Bank bought a new position in Apple during the fourth quarter worth about $46,868,648,000. Vanguard Group Inc. grew its holdings in 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 purchasing an additional 49,168,843 shares during the period. Proficio Capital Partners LLC lifted its position in Apple by 23,555.4% during the fourth quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock worth $5,272,653,000 after acquiring an additional 20,966,232 shares during the last quarter. Northern Trust Corp lifted its position in Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after acquiring an additional 20,079,472 shares during the last quarter. Finally, Demars Financial Group LLC lifted its position in Apple by 24,931.3% during the fourth quarter. Demars Financial Group LLC now owns 10,368,233 shares of the iPhone maker's stock worth $2,596,413,000 after acquiring an additional 10,326,812 shares during the last quarter. Institutional investors own 67.73% of the company's stock.
Insider Buying and Selling at Apple
In other news, CFO Kevan Parekh sold 4,570 shares of the firm's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the completion of the transaction, the chief financial officer now directly owns 4,569 shares of the company's stock, valued at $941,214. This trade represents a 50.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 108,136 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was 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 directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,507 shares of company stock valued at $42,694,080. Company insiders own 0.06% of the company's stock.
Apple Stock Performance
Shares of AAPL stock traded down $2.78 during trading on Tuesday, hitting $195.64. The company's stock had a trading volume of 38,432,354 shares, compared to its average volume of 54,632,706. The company has a market cap of $2.92 trillion, a PE ratio of 31.05, a P/E/G ratio of 2.44 and a beta of 1.22. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The business has a fifty day moving average of $202.28 and a 200-day moving average of $222.66. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10.
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 the consensus estimate of $1.62 by $0.03. The company had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%. Apple's quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.53 earnings per share. As a group, research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.
Apple declared that its board has approved a share buyback program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.
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 issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.53%. This is a positive change from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. Apple's dividend payout ratio is 16.20%.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on AAPL. UBS Group restated a "buy" rating on shares of Apple in a research report on Sunday, June 1st. Wedbush restated an "outperform" rating and set a $270.00 price objective on shares of Apple in a research report on Tuesday, June 10th. DA Davidson raised their price objective on shares of Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. The Goldman Sachs Group restated a "buy" rating on shares of Apple in a research report on Wednesday, May 21st. Finally, Citigroup restated a "buy" rating on shares of Apple in a research report on Tuesday, June 10th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $234.86.
Check Out Our Latest Stock Report on AAPL
About Apple
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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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