Exchange Traded Concepts LLC lifted its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 685,783 shares of the iPhone maker's stock after buying an additional 20,913 shares during the period. Apple comprises 2.6% of Exchange Traded Concepts LLC's portfolio, making the stock its 4th biggest holding. Exchange Traded Concepts LLC's holdings in Apple were worth $152,333,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently modified their holdings of AAPL. Lockerman Financial Group Inc. grew its stake in Apple by 0.9% during the first quarter. Lockerman Financial Group Inc. now owns 6,365 shares of the iPhone maker's stock worth $1,414,000 after buying an additional 54 shares in the last quarter. Pinion Investment Advisors LLC raised its holdings in Apple by 98.9% during the first quarter. Pinion Investment Advisors LLC now owns 30,586 shares of the iPhone maker's stock worth $6,794,000 after buying an additional 15,205 shares during the last quarter. Newport Capital Group LLC raised its holdings in shares of Apple by 2.9% in the 1st quarter. Newport Capital Group LLC now owns 7,182 shares of the iPhone maker's stock worth $1,595,000 after acquiring an additional 200 shares during the last quarter. SFM LLC purchased a new stake in shares of Apple during the 1st quarter valued at approximately $1,847,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its stake in shares of Apple by 2.0% in the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 249,193 shares of the iPhone maker's stock worth $55,353,000 after purchasing an additional 4,804 shares during the last quarter. Institutional investors own 67.73% of the company's stock.
Apple Stock Up 0.5%
Shares of AAPL traded up $1.13 during mid-day trading on Monday, reaching $212.31. The company's stock had a trading volume of 40,713,768 shares, compared to its average volume of 53,135,758. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The stock has a market cap of $3.17 trillion, a PE ratio of 33.05, a price-to-earnings-growth ratio of 2.36 and a beta of 1.20. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. The company's 50 day moving average is $204.57 and its 200 day moving average is $215.41.
Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data 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 return on equity of 167.24% and a net margin of 24.30%. The business had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. During the same quarter last year, the business posted $1.53 EPS. The firm's revenue was up 5.1% compared to the same quarter last year. Equities analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.
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 0.49%. This is an increase from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. Apple's dividend payout ratio (DPR) is 16.20%.
Apple announced that its Board of Directors has approved a stock buyback program on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a research note on Tuesday, June 10th. UBS Group reaffirmed a "hold" rating on shares of Apple in a report on Friday. Monness Crespi & Hardt upped their price objective on Apple to $245.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Raymond James Financial dropped their price objective on shares of Apple from $250.00 to $230.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Finally, China Renaissance initiated coverage on Apple in a report on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and a consensus target price of $235.11.
Get Our Latest Stock Analysis on AAPL
Insider Activity at Apple
In other news, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the sale, the insider owned 15,533 shares in the company, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of the business's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the sale, the chief financial officer owned 4,569 shares in the company, valued at $941,214. This trade represents a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.
About Apple
(
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.
Read More

Before you consider Apple, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Apple wasn't on the list.
While Apple currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report