Hall Capital Management Co. Inc. purchased a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 37,426 shares of the iPhone maker's stock, valued at approximately $9,372,000. Apple accounts for 4.4% of Hall Capital Management Co. Inc.'s holdings, making the stock its 5th largest position.
Several other hedge funds and other institutional investors also recently modified their holdings of AAPL. Regent Peak Wealth Advisors LLC lifted its holdings in shares of Apple by 0.9% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 111,858 shares of the iPhone maker's stock valued at $28,012,000 after purchasing an additional 1,050 shares during the last quarter. CJM Wealth Advisers Ltd. raised its holdings in shares of Apple by 15.7% during the fourth quarter. CJM Wealth Advisers Ltd. now owns 23,741 shares of the iPhone maker's stock worth $5,945,000 after acquiring an additional 3,226 shares in the last quarter. Baker Tilly Wealth Management LLC grew its stake in shares of Apple by 3.2% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 25,382 shares of the iPhone maker's stock valued at $6,356,000 after buying an additional 783 shares in the last quarter. ORG Partners LLC raised its holdings in shares of Apple by 6.4% during the 4th quarter. ORG Partners LLC now owns 47,326 shares of the iPhone maker's stock valued at $11,857,000 after purchasing an additional 2,847 shares in the last quarter. Finally, Ridgewood Investments LLC increased its holdings in shares of Apple by 31.7% during the 4th quarter. Ridgewood Investments LLC now owns 3,852 shares of the iPhone maker's stock valued at $965,000 after acquiring an additional 927 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.
Apple Stock Up 0.5%
Shares of NASDAQ AAPL opened at $196.58 on Friday. 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 has a 50-day moving average price of $202.29 and a 200-day moving average price of $222.00. The stock has a market capitalization of $2.94 trillion, a P/E ratio of 30.62, a P/E/G ratio of 2.19 and a beta of 1.22. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10.
Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating the consensus estimate of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 167.24%. The firm had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. During the same quarter last year, the business posted $1.53 EPS. The company's revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple declared that its Board of Directors has initiated a stock repurchase program on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its shares are undervalued.
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. The ex-dividend date of this dividend was Monday, May 12th. This is a positive change from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 0.53%. Apple's payout ratio is presently 16.20%.
Insider Activity
In related news, CEO Timothy D. Cook sold 108,136 shares of the business'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 completion of the transaction, the chief executive officer now directly owns 3,280,295 shares in the company, valued at $733,637,976.75. The trade was a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the sale, the insider now owns 15,533 shares of the company's stock, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,507 shares of company stock valued at $42,694,080 over the last quarter. Company insiders own 0.06% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on AAPL shares. Scotiabank lowered Apple to a "market perform" rating in a report on Friday, May 2nd. The Goldman Sachs Group reissued a "buy" rating on shares of Apple in a report on Wednesday, May 21st. Maxim Group increased their price target on Apple to $215.00 and gave the stock a "hold" rating in a research report on Friday, February 21st. KeyCorp raised shares of Apple from an "underweight" rating to a "sector weight" rating in a report on Monday, April 14th. Finally, TD Cowen reduced their price objective on shares of Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Apple currently has a consensus rating of "Moderate Buy" and a consensus target price of $234.86.
Get Our Latest Stock Analysis on AAPL
About Apple
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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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