CV Advisors LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 57.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 84,570 shares of the iPhone maker's stock after acquiring an additional 30,993 shares during the period. Apple accounts for about 7.2% of CV Advisors LLC's portfolio, making the stock its 2nd largest position. CV Advisors LLC's holdings in Apple were worth $21,178,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. O Connor Financial Group LLC raised its position 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 buying an additional 41 shares in the last quarter. Menard Financial Group LLC increased its stake in Apple by 0.4% in the 3rd quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker's stock worth $2,848,000 after acquiring an additional 48 shares during the last quarter. Hanseatic Management Services Inc. raised its holdings in shares of Apple by 1.3% in the 4th quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker's stock valued at $945,000 after acquiring an additional 48 shares in the last quarter. Family Capital Management Inc. boosted its position in shares of Apple by 0.3% during the 4th quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock valued at $4,235,000 after acquiring an additional 48 shares during the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in shares of Apple by 0.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock worth $4,178,000 after purchasing an additional 48 shares in the last quarter. 67.73% of the stock is owned by institutional investors.
Insider Buying and Selling at Apple
In related news, CEO Timothy D. Cook sold 108,136 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the transaction, the chief executive officer now 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the transaction, the insider now directly owns 15,533 shares of the company's stock, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 191,507 shares of company stock valued at $42,694,080. 0.06% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on AAPL shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $225.00 target price on shares of Apple in a research note on Friday, May 2nd. Monness Crespi & Hardt lowered their price objective on shares of Apple from $260.00 to $245.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Loop Capital cut their target price on shares of Apple from $230.00 to $215.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. KeyCorp raised Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Apple in a report on Monday, May 12th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $235.80.
Read Our Latest Analysis on AAPL
Apple Trading Up 2.5%
Shares of NASDAQ AAPL traded up $4.94 during trading hours on Tuesday, hitting $200.21. The company's stock had a trading volume of 55,838,867 shares, compared to its average volume of 56,255,357. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The stock has a market cap of $2.99 trillion, a price-to-earnings ratio of 31.78, a P/E/G ratio of 2.44 and a beta of 1.27. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The business has a 50-day simple moving average of $204.64 and a 200-day simple moving average of $225.71.
Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $94.04 billion. During the same quarter last year, the business posted $1.53 EPS. The business's revenue was up 5.1% on a year-over-year basis. On average, analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its shares are undervalued.
Apple Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a $0.26 dividend. The ex-dividend date was Monday, May 12th. This represents a $1.04 annualized dividend and a yield of 0.52%. This is a boost from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is 16.20%.
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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