Glenview Trust co grew its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,071,668 shares of the iPhone maker's stock after purchasing an additional 6,424 shares during the period. Apple makes up approximately 5.0% of Glenview Trust co's holdings, making the stock its 2nd largest holding. Glenview Trust co's holdings in Apple were worth $268,367,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of AAPL. Atlanta Consulting Group Advisors LLC raised its stake in shares of Apple by 4.0% in the third quarter. Atlanta Consulting Group Advisors LLC now owns 20,320 shares of the iPhone maker's stock worth $4,735,000 after acquiring an additional 776 shares during the last quarter. Tower Bridge Advisors increased its holdings in shares of Apple by 0.6% in the third quarter. Tower Bridge Advisors now owns 237,376 shares of the iPhone maker's stock valued at $55,309,000 after purchasing an additional 1,308 shares in the last quarter. Concord Asset Management LLC VA raised its position in Apple by 10.1% in the 3rd quarter. Concord Asset Management LLC VA now owns 66,396 shares of the iPhone maker's stock worth $15,470,000 after purchasing an additional 6,071 shares during the last quarter. RiverPark Advisors LLC lifted its holdings in Apple by 8.1% during the 3rd quarter. RiverPark Advisors LLC now owns 31,685 shares of the iPhone maker's stock worth $7,383,000 after buying an additional 2,368 shares in the last quarter. Finally, Cardano Risk Management B.V. boosted its position in Apple by 2.9% in the 3rd quarter. Cardano Risk Management B.V. now owns 3,723,104 shares of the iPhone maker's stock valued at $876,483,000 after buying an additional 103,856 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on AAPL shares. Needham & Company LLC reissued a "buy" rating and issued a $225.00 target price on shares of Apple in a research note on Friday, May 2nd. Evercore ISI raised their price target on Apple from $260.00 to $275.00 and gave the company an "outperform" rating in a report on Tuesday, March 18th. UBS Group dropped their price objective on Apple from $236.00 to $210.00 and set a "neutral" rating for the company in a report on Wednesday, April 23rd. Citigroup reaffirmed a "cautious" rating on shares of Apple in a research note on Monday, May 5th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Apple from $270.00 to $245.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $235.80.
Read Our Latest Stock Report on Apple
Apple Stock Performance
NASDAQ AAPL traded up $4.94 during trading on Tuesday, reaching $200.21. The company's stock had a trading volume of 55,838,867 shares, compared to its average volume of 56,255,357. The firm has a 50 day moving average price of $204.64 and a 200 day moving average price of $225.71. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The firm has a market capitalization of $2.99 trillion, a price-to-earnings ratio of 31.78, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27. 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 (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates 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%. The firm's quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.53 earnings per share. As a group, equities analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were issued a $0.26 dividend. The ex-dividend date was Monday, May 12th. This is a boost from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.52%. Apple's payout ratio is currently 16.20%.
Apple announced that its board has initiated a stock buyback program on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.
Insider Activity
In related news, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total value 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. The trade was a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 108,136 shares of the company's 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 sale, the chief executive officer now directly owns 3,280,295 shares of the company's stock, valued at $733,637,976.75. This represents a 3.19% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 191,507 shares of company stock worth $42,694,080. 0.06% of the stock is currently owned by company insiders.
Apple Profile
(
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.
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