Colrain Capital LLC bought a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,948 shares of the iPhone maker's stock, valued at approximately $1,489,000. Apple comprises about 1.5% of Colrain Capital LLC's investment portfolio, making the stock its 21st biggest holding.
Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Apple by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock valued at $349,532,608,000 after acquiring an additional 49,168,843 shares during the last quarter. State Street Corp lifted its stake in shares of Apple by 10.6% in the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock valued at $136,074,372,000 after purchasing an additional 55,935,105 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Apple by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock worth $77,542,863,000 after purchasing an additional 20,483,787 shares during the period. Norges Bank acquired a new stake in Apple during the 4th quarter worth approximately $46,868,648,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Apple by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 98,099,411 shares of the iPhone maker's stock valued at $24,566,054,000 after buying an additional 3,156,680 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Apple news, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction that occurred 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 in the company, valued at $733,637,976.75. The trade was a 3.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Jeffrey E. Williams sold 35,493 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total value of $7,950,786.93. Following the transaction, the chief operating officer now directly owns 390,059 shares of the company's stock, valued at $87,377,116.59. This trade represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 191,507 shares of company stock valued at $42,694,080. Company insiders own 0.06% of the company's stock.
Apple Stock Up 0.6%
NASDAQ AAPL traded up $1.22 on Tuesday, hitting $202.67. 52,015,754 shares of the stock traded hands, compared to its average volume of 56,214,415. 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 stock has a 50-day moving average of $200.72 and a 200 day moving average of $223.92. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a market capitalization of $3.03 trillion, a P/E ratio of 32.17, a price-to-earnings-growth ratio of 2.44 and a beta of 1.22.
Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. Apple had a return on equity of 160.83% and a net margin of 24.30%. The business had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. During the same period in the previous year, the business earned $1.53 EPS. The business's quarterly revenue was up 5.1% on a year-over-year basis. As a group, analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple declared that its Board of Directors has approved a share buyback program on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.
Apple Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a dividend of $0.26 per share. 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. This represents a $1.04 annualized dividend and a yield of 0.51%. Apple's payout ratio is presently 16.20%.
Analyst Ratings Changes
Several research firms have recently issued reports on AAPL. Scotiabank lowered shares of Apple to a "market perform" rating in a research report on Friday, May 2nd. Morgan Stanley reiterated an "overweight" rating and issued a $235.00 price target on shares of Apple in a report on Thursday, June 5th. Needham & Company LLC reissued a "hold" rating on shares of Apple in a research report on Tuesday. Citigroup reaffirmed a "cautious" rating on shares of Apple in a research report on Monday, May 5th. Finally, Maxim Group increased their target price on Apple to $215.00 and gave the company a "hold" rating in a research note on Friday, February 21st. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Apple currently has a consensus rating of "Moderate Buy" and a consensus price target of $234.86.
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About Apple
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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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