Envestnet Portfolio Solutions Inc. Buys 77,170 Shares of Apple Inc. (NASDAQ:AAPL)

Envestnet Portfolio Solutions Inc. grew its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 9.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 875,674 shares of the iPhone maker's stock after acquiring an additional 77,170 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Apple were worth $219,286,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of AAPL. Drystone LLC bought a new position in Apple in the fourth quarter valued at approximately $25,000. Life Planning Partners Inc bought a new stake in shares of Apple during the 4th quarter valued at $47,000. SPX Gestao de Recursos Ltda acquired a new position in shares of Apple in the 3rd quarter valued at $71,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Apple in the 3rd quarter worth $77,000. Finally, Pillar Financial Advisors LLC bought a new position in shares of Apple in the 4th quarter worth $82,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Apple

In other Apple news, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 38,822 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the sale, the senior vice president now owns 179,158 shares of the company's stock, valued at approximately $40,072,269.86. This represents a 17.81% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 191,507 shares of company stock worth $42,694,080. Company insiders own 0.06% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. 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. Wedbush reaffirmed an "outperform" rating and issued a $270.00 price target on shares of Apple in a research note on Friday, May 16th. Oppenheimer lowered shares of Apple from an "outperform" rating to a "market perform" rating in a research note on Wednesday, January 29th. Barclays decreased their price objective 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. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Apple in a report on Monday, May 12th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $235.80.

Apple Stock Up 2.5%

Shares of NASDAQ:AAPL traded up $4.94 during midday trading on Tuesday, reaching $200.21. The company had a trading volume of 55,838,867 shares, compared to its average volume of 56,255,357. The stock has a market cap of $2.99 trillion, a PE ratio of 31.78, a P/E/G ratio of 2.44 and a beta of 1.27. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The business's 50 day moving average price is $204.64 and its 200 day moving average price is $225.71. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share 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 the consensus estimate of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.53 earnings per share. Research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple declared that its Board of Directors has initiated a share buyback program on Thursday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, May 12th. 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%. Apple's payout ratio is presently 16.20%.

Apple Company 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.