Corient Private Wealth LLC boosted its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 0.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,152,322 shares of the iPhone maker's stock after purchasing an additional 27,571 shares during the period. Apple comprises about 4.9% of Corient Private Wealth LLC's investment portfolio, making the stock its biggest position. Corient Private Wealth LLC owned approximately 0.08% of Apple worth $2,976,538,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of the stock. CV Advisors LLC grew its holdings in Apple by 57.8% during the fourth quarter. CV Advisors LLC now owns 84,570 shares of the iPhone maker's stock valued at $21,178,000 after purchasing an additional 30,993 shares during the period. Ninepoint Partners LP boosted its holdings in Apple by 16.8% in the 4th quarter. Ninepoint Partners LP now owns 5,511 shares of the iPhone maker's stock worth $1,380,000 after buying an additional 793 shares during the period. Tumwater Wealth Management LLC bought a new position in Apple in the 4th quarter worth $1,287,000. Envestnet Portfolio Solutions Inc. boosted its holdings in Apple by 9.7% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 875,674 shares of the iPhone maker's stock worth $219,286,000 after buying an additional 77,170 shares during the period. Finally, Ascent Capital Management LLC bought a new position in Apple in the 4th quarter worth $7,073,000. Institutional investors own 67.73% of the company's stock.
Apple Trading Down 0.2%
Shares of NASDAQ:AAPL traded down $0.47 during trading on Thursday, reaching $199.95. 51,367,725 shares of the company were exchanged, compared to its average volume of 56,221,859. The firm has a market capitalization of $2.99 trillion, a PE ratio of 31.74, a P/E/G ratio of 2.44 and a beta of 1.27. The business's fifty day simple moving average is $203.59 and its 200-day simple moving average is $225.20. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88.
Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results 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 160.83%. The company's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the company posted $1.53 earnings per share. On average, research analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.
Apple declared that its Board of Directors has initiated a stock buyback program on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors 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 paid a dividend of $0.26 per share. The ex-dividend date was Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. Apple's dividend payout ratio (DPR) is currently 16.20%.
Insider Activity
In other news, SVP Katherine L. Adams sold 38,822 shares of Apple stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the completion of the sale, the senior vice president now directly owns 179,158 shares in the company, valued at approximately $40,072,269.86. The trade was a 17.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the sale, the chief executive officer now 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 have sold 191,507 shares of company stock worth $42,694,080. Corporate insiders own 0.06% of the company's stock.
Analyst Upgrades and Downgrades
AAPL has been the subject of several recent analyst reports. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Apple in a report on Wednesday, May 21st. Barclays dropped their target price 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. China Renaissance initiated coverage on shares of Apple in a report on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 target price for the company. JPMorgan Chase & Co. dropped their target price on shares of Apple from $270.00 to $245.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Finally, Scotiabank cut shares of Apple to a "market perform" rating in a research note on Friday, May 2nd. Four equities research 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 stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $235.80.
Check Out Our Latest Stock Report on AAPL
Apple Company 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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