Gerber LLC Has $7.70 Million Position in Apple Inc. (NASDAQ:AAPL)

Gerber LLC grew its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 9.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 34,648 shares of the iPhone maker's stock after acquiring an additional 3,043 shares during the period. Apple accounts for approximately 6.4% of Gerber LLC's investment portfolio, making the stock its 6th biggest position. Gerber LLC's holdings in Apple were worth $7,696,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Life Planning Partners Inc bought a new position in Apple during the 4th quarter worth $47,000. Conquis Financial LLC bought a new position in Apple during the 4th quarter worth $63,000. LSV Asset Management bought a new position in Apple during the 4th quarter worth $65,000. Pillar Financial Advisors LLC bought a new position in Apple during the 4th quarter worth $82,000. Finally, Compass Planning Associates Inc bought a new position in Apple during the 4th quarter worth $96,000. 67.73% of the stock is currently owned by institutional investors.

Apple Stock Performance

Shares of NASDAQ:AAPL traded up $10.20 during mid-day trading on Wednesday, reaching $213.12. The company had a trading volume of 102,898,971 shares, compared to its average volume of 57,348,797. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The firm has a market cap of $3.16 trillion, a price-to-earnings ratio of 32.34, a PEG ratio of 2.14 and a beta of 1.16. The company's 50-day moving average price is $205.58 and its 200-day moving average price is $213.24. Apple Inc. has a one year low of $169.21 and a one year high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. During the same period in the previous year, the business earned $1.40 EPS. Apple's revenue was up 9.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Monday, August 11th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.5%. Apple's dividend payout ratio is presently 15.78%.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. TD Cowen decreased their price target on Apple from $290.00 to $275.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Citigroup increased their price target on Apple from $240.00 to $245.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Raymond James Financial reiterated an "outperform" rating and set a $240.00 price target (up from $230.00) on shares of Apple in a report on Friday, August 1st. Barclays raised their target price on Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a research note on Friday, August 1st. Finally, Jefferies Financial Group upgraded Apple from an "underperform" rating to a "hold" rating in a research note on Friday, July 18th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $237.25.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 4,486 shares of the company'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 transaction, the insider owned 15,533 shares of the company's stock, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.06% of the company's stock.

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.