Apple Inc. (NASDAQ:AAPL) Position Boosted by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 340,164,913 shares of the iPhone maker's stock after acquiring an additional 6,307,413 shares during the period. Apple comprises about 6.6% of Geode Capital Management LLC's holdings, making the stock its biggest holding. Geode Capital Management LLC owned 2.26% of Apple worth $84,999,145,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. O Connor Financial Group LLC increased its position in Apple by 1.2% in the 4th quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker's stock valued at $896,000 after acquiring an additional 41 shares during the period. Menard Financial Group LLC grew its stake in shares of Apple by 0.4% in the 3rd quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker's stock valued at $2,848,000 after purchasing an additional 48 shares during the last quarter. Hanseatic Management Services Inc. grew its stake in shares of Apple by 1.3% in the 4th quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker's stock valued at $945,000 after purchasing an additional 48 shares during the last quarter. Family Capital Management Inc. increased its holdings in shares of Apple by 0.3% in the fourth quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock valued at $4,235,000 after purchasing an additional 48 shares during the period. Finally, Farmers & Merchants Trust Co of Chambersburg PA raised its stake in shares of Apple by 0.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock worth $4,178,000 after purchasing an additional 48 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Price Performance

Shares of NASDAQ AAPL traded up $1.22 during trading on Tuesday, reaching $202.67. The company had a trading volume of 52,015,754 shares, compared to its average volume of 56,214,415. 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 twelve month low of $169.21 and a twelve month high of $260.10. The stock has a 50-day moving average price of $200.72 and a two-hundred day moving average price of $223.92. The stock has a market capitalization of $3.03 trillion, a PE ratio of 32.17, a price-to-earnings-growth ratio of 2.44 and a beta of 1.22.

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 firm 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%. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.53 EPS. As a group, sell-side analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Monday, May 12th. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is currently 16.20%.

Apple declared that its Board of Directors has approved a stock repurchase program on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Wedbush reissued an "outperform" rating and issued a $270.00 price objective on shares of Apple in a research note on Tuesday. Maxim Group lifted their target price on shares of Apple to $215.00 and gave the company a "hold" rating in a report on Friday, February 21st. Tigress Financial increased their price target on shares of Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a report on Thursday, April 3rd. UBS Group restated a "buy" rating on shares of Apple in a research report on Sunday, June 1st. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research report on Tuesday. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $234.86.

Insider Activity at Apple

In other news, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the transaction, the insider now owns 15,533 shares of the company's stock, valued at $3,233,815.27. This represents a 22.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the transaction, the chief executive officer now 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 disclosure for this sale can be found here. Over the last 90 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.

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.