Envestnet Portfolio Solutions Inc. Grows Stake in Apple Inc. (NASDAQ:AAPL)

Envestnet Portfolio Solutions Inc. boosted its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 9.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 875,674 shares of the iPhone maker's stock after purchasing an additional 77,170 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Apple were worth $219,286,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of AAPL. State Street Corp raised its position in shares of Apple by 10.6% during the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock valued at $136,074,372,000 after buying an additional 55,935,105 shares in the last quarter. FMR LLC raised its position in shares of Apple by 5.3% during the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock valued at $84,779,231,000 after buying an additional 18,224,005 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Apple by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock valued at $77,542,863,000 after buying an additional 20,483,787 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Apple by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 98,099,411 shares of the iPhone maker's stock valued at $24,566,054,000 after buying an additional 3,156,680 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Apple by 1.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 91,568,390 shares of the iPhone maker's stock valued at $21,335,435,000 after buying an additional 1,742,087 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Buying and Selling at Apple

In other news, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction 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 in the company, valued at approximately $733,637,976.75. The trade was a 3.19% 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, COO Jeffrey E. Williams sold 35,493 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the transaction, the chief operating officer now owns 390,059 shares of the company's stock, valued at $87,377,116.59. This represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,507 shares of company stock worth $42,694,080 over the last three months. Corporate insiders own 0.06% of the company's stock.

Apple Stock Down 0.2%

AAPL stock traded down $0.47 during trading on Thursday, hitting $199.95. 51,367,725 shares of the company's stock traded hands, compared to its average volume of 56,221,859. The firm has a market capitalization of $2.99 trillion, a P/E ratio of 31.74, a PEG ratio of 2.44 and a beta of 1.27. The business has a fifty day simple moving average of $203.59 and a two-hundred day simple moving average of $225.20. 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 Inc. has a 1 year low of $169.21 and a 1 year 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 for the quarter, beating the consensus estimate of $1.62 by $0.03. The company had revenue of $95.36 billion during 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%. Apple's revenue was up 5.1% compared to the same quarter last year. During the same period last year, the firm earned $1.53 earnings per share. Sell-side analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

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

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.52%. This is an increase from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. Apple's dividend payout ratio (DPR) is 16.20%.

Analyst Ratings Changes

Several analysts have recently issued reports on AAPL shares. TD Cowen decreased their target price on shares of Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Citigroup restated a "cautious" rating on shares of Apple in a research report on Monday, May 5th. Tigress Financial upped their target price on shares of Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a research report on Thursday, April 3rd. Barclays reduced their price objective on shares of Apple from $197.00 to $173.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 30th. Finally, Maxim Group increased their price target on Apple to $215.00 and gave the stock a "hold" rating in a report on Friday, February 21st. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Apple has a consensus rating of "Moderate Buy" and an average price target of $235.80.

About Apple

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.