CV Advisors LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 57.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 84,570 shares of the iPhone maker's stock after purchasing an additional 30,993 shares during the quarter. Apple makes up approximately 7.2% of CV Advisors LLC's investment portfolio, making the stock its 2nd largest position. CV Advisors LLC's holdings in Apple were worth $21,178,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AAPL. Ninepoint Partners LP lifted its stake in shares of Apple by 16.8% in the 4th quarter. Ninepoint Partners LP now owns 5,511 shares of the iPhone maker's stock valued at $1,380,000 after purchasing an additional 793 shares during the last quarter. Tumwater Wealth Management LLC acquired a new position in shares of Apple in the 4th quarter valued at $1,287,000. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Apple by 9.7% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 875,674 shares of the iPhone maker's stock valued at $219,286,000 after purchasing an additional 77,170 shares during the last quarter. Ascent Capital Management LLC acquired a new position in shares of Apple in the 4th quarter valued at $7,073,000. Finally, Pollock Investment Advisors LLC acquired a new position in shares of Apple in the 4th quarter valued at $1,915,000. Institutional investors and hedge funds own 67.73% of the company's stock.
Apple Stock Performance
Shares of NASDAQ:AAPL traded up $0.91 during trading on Thursday, reaching $201.33. 11,638,749 shares of the company's stock traded hands, compared to its average volume of 56,057,477. 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. The stock has a market capitalization of $3.01 trillion, a P/E ratio of 31.94, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27. The company has a 50 day moving average of $204.01 and a 200-day moving average of $225.36.
Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping the consensus estimate of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 160.83%. The firm had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. During the same quarter in the prior year, the firm earned $1.53 EPS. Apple's quarterly revenue was up 5.1% on a year-over-year basis. On average, equities analysts expect that Apple Inc. will post 7.28 EPS for the current year.
Apple Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were paid a $0.26 dividend. This is a positive change 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%. The ex-dividend date was Monday, May 12th. Apple's dividend payout ratio is currently 16.20%.
Apple announced that its Board of Directors has approved a stock buyback plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its shares are undervalued.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on the company. Morgan Stanley reiterated an "overweight" rating on shares of Apple in a report on Monday, May 12th. Monness Crespi & Hardt dropped their price objective on Apple from $260.00 to $245.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. KeyCorp upgraded Apple from an "underweight" rating to a "sector weight" rating in a report on Monday, April 14th. JPMorgan Chase & Co. decreased their target price on Apple from $270.00 to $245.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Finally, Raymond James decreased their price objective on Apple from $250.00 to $230.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $235.80.
View Our Latest Stock Report on AAPL
Insider Transactions at Apple
In related news, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 3,280,295 shares of the company's stock, valued at $733,637,976.75. This represents a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 4,486 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the sale, the insider now directly owns 15,533 shares of the company's stock, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 191,507 shares of company stock valued at $42,694,080. Company insiders own 0.06% of the company's stock.
Apple Profile
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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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