Eos Management L.P. Has $13.18 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Eos Management L.P. trimmed its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 17.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,642 shares of the iPhone maker's stock after selling 11,233 shares during the period. Apple comprises about 5.6% of Eos Management L.P.'s investment portfolio, making the stock its 4th largest position. Eos Management L.P.'s holdings in Apple were worth $13,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Amara Financial LLC. acquired a new stake in Apple during the 3rd quarter valued at $288,000. Simmons Bank increased its stake in shares of Apple by 1.6% in the third quarter. Simmons Bank now owns 132,641 shares of the iPhone maker's stock valued at $30,905,000 after buying an additional 2,086 shares in the last quarter. Safe Harbor Fiduciary LLC bought a new position in shares of Apple in the third quarter valued at about $4,972,000. SYM FINANCIAL Corp lifted its position in Apple by 6.3% during the 3rd quarter. SYM FINANCIAL Corp now owns 28,626 shares of the iPhone maker's stock worth $6,670,000 after buying an additional 1,695 shares in the last quarter. Finally, Cardano Risk Management B.V. grew its holdings in Apple by 2.9% during the 3rd quarter. Cardano Risk Management B.V. now owns 3,723,104 shares of the iPhone maker's stock worth $876,483,000 after acquiring an additional 103,856 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. DA Davidson upped their price target on Apple from $230.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Jefferies Financial Group reaffirmed an "underperform" rating and issued a $170.62 target price (up previously from $167.88) on shares of Apple in a research note on Friday, May 2nd. KeyCorp raised shares of Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. Oppenheimer cut shares of Apple from an "outperform" rating to a "market perform" rating in a research note on Wednesday, January 29th. Finally, 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. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $235.80.

Insider Activity at Apple

In other Apple news, COO Jeffrey E. Williams sold 35,493 shares of the company's stock in a transaction dated 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 directly owns 390,059 shares in the company, valued at approximately $87,377,116.59. This represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Katherine L. Adams sold 38,822 shares of the business's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total value of $8,683,316.74. Following the sale, the senior vice president now owns 179,158 shares in the company, valued at approximately $40,072,269.86. The trade was a 17.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,507 shares of company stock worth $42,694,080 in the last quarter. Company insiders own 0.06% of the company's stock.

Apple Stock Down 0.9%

Shares of NASDAQ:AAPL opened at $206.86 on Wednesday. The firm has a market capitalization of $3.09 trillion, a PE ratio of 32.83, a price-to-earnings-growth 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 company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The firm's 50-day moving average is $205.87 and its two-hundred day moving average is $226.43.

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, beating the consensus estimate of $1.62 by $0.03. The firm had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. The firm's revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.53 earnings per share. Analysts predict 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. Investors of record on Monday, May 12th were issued a dividend of $0.26 per share. The ex-dividend date was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.50%. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio (DPR) is currently 16.20%.

Apple announced that its board has initiated a share 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 an indication that the company's management believes its shares are undervalued.

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.

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