Apple Inc. (NASDAQ:AAPL) is Global Assets Advisory LLC's 3rd Largest Position

Key Points

• Global Assets Advisory LLC increased its stake in Apple Inc. by 113.3% during the first quarter, now holding shares valued at $25.14 million, which constitutes 4.7% of their investment portfolio.
• A number of institutional investors have significantly expanded their positions in Apple, with Norges Bank acquiring a new position worth $46.87 billion and GAMMA Investing LLC boosting its stake by a staggering 25,934.1%.
• Apple reported earnings of $1.57 per share for the last quarter, exceeding analysts' expectations, and announced a stock repurchase plan allowing for the buyback of $100 billion in shares.

Global Assets Advisory LLC grew its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 113.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 113,190 shares of the iPhone maker's stock after acquiring an additional 60,128 shares during the period. Apple accounts for about 4.7% of Global Assets Advisory LLC's investment portfolio, making the stock its 3rd biggest position. Global Assets Advisory LLC's holdings in Apple were worth $25,143,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Life Planning Partners Inc acquired a new position in Apple in the fourth quarter valued at about $47,000. Conquis Financial LLC acquired a new stake in shares of Apple in the 4th quarter valued at approximately $63,000. LSV Asset Management acquired a new position in shares of Apple in the 4th quarter valued at $65,000. Pillar Financial Advisors LLC bought a new stake in shares of Apple in the fourth quarter worth about $82,000. Finally, Compass Planning Associates Inc bought a new stake in Apple during the 4th quarter worth approximately $96,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Trading Up 4.2%

Shares of Apple stock traded up $9.32 on Friday, reaching $229.35. 113,661,399 shares of the company's stock were exchanged, compared to its average volume of 56,719,256. The company has a market capitalization of $3.40 trillion, a P/E ratio of 34.80, a price-to-earnings-growth ratio of 2.30 and a beta of 1.16. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The firm's 50-day moving average is $206.84 and its two-hundred day moving average is $213.21.

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

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Monday, August 11th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Monday, August 11th. Apple's dividend payout ratio (DPR) is 15.78%.

Apple declared that its board has initiated a share repurchase plan 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 stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have commented on AAPL. Morgan Stanley upped their price target on Apple from $235.00 to $240.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. KeyCorp upgraded Apple from an "underweight" rating to a "sector weight" rating in a report on Monday, April 14th. Monness Crespi & Hardt lifted their target price on Apple from $245.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, August 1st. UBS Group increased their price target on Apple from $210.00 to $220.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Finally, Barclays boosted their price target on Apple from $173.00 to $180.00 and gave the stock an "underweight" rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $237.60.

Insider Buying and Selling

In other news, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider directly owned 15,533 shares of the company's stock, valued at $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.