Dynamic Technology Lab Private Ltd Has $1.88 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Dynamic Technology Lab Private Ltd reduced its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 63.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,489 shares of the iPhone maker's stock after selling 13,149 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Apple were worth $1,875,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Drystone LLC bought a new position in Apple during the 4th quarter worth $25,000. Conquis Financial LLC acquired a new position in Apple during the 4th quarter worth $63,000. SPX Gestao de Recursos Ltda acquired a new position in Apple during the 3rd quarter worth $71,000. Pillar Financial Advisors LLC acquired a new position in Apple during the 4th quarter worth $82,000. Finally, Compass Planning Associates Inc acquired a new position in Apple during the 4th quarter worth $96,000. 67.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. DA Davidson boosted their price target on Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Raymond James reduced their price target on Apple from $250.00 to $230.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Maxim Group boosted their price target on Apple to $215.00 and gave the stock a "hold" rating in a research report on Friday, February 21st. KeyCorp upgraded Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. Finally, China Renaissance initiated coverage on Apple in a report on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $234.86.

Insider Activity at Apple

In related news, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 108,136 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total value of $24,184,616.40. Following 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 disclosure for this sale can be found here. Over the last ninety days, 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 Trading Up 1.0%

Shares of Apple stock traded up $1.97 on Monday, reaching $198.42. 42,873,073 shares of the company were exchanged, compared to its average volume of 54,696,017. The stock has a fifty day moving average price of $202.28 and a 200-day moving average price of $222.66. The firm has a market capitalization of $2.96 trillion, a price-to-earnings ratio of 31.50, a price-to-earnings-growth 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. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. The company had revenue of $95.36 billion for 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 revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.53 earnings per share. On average, analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.52%. This is a positive change from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. Apple's payout ratio is presently 16.20%.

Apple declared that its board has authorized a stock repurchase plan on Thursday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

Apple Profile

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.