Apple Inc. (NASDAQ:AAPL) Shares Acquired by Hanson & Doremus Investment Management

Hanson & Doremus Investment Management boosted its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 25.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,952 shares of the iPhone maker's stock after purchasing an additional 10,252 shares during the period. Apple comprises 1.7% of Hanson & Doremus Investment Management's holdings, making the stock its 11th biggest holding. Hanson & Doremus Investment Management's holdings in Apple were worth $11,318,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AAPL. Vanguard Group Inc. boosted its position in Apple by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock valued at $349,532,608,000 after buying an additional 49,168,843 shares during the period. Geode Capital Management LLC boosted its position in Apple by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker's stock valued at $84,999,145,000 after buying an additional 6,307,413 shares during the period. Norges Bank purchased a new stake in Apple in the 4th quarter valued at about $46,868,648,000. Northern Trust Corp lifted its position in shares of Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Apple by 14.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker's stock worth $26,220,566,000 after purchasing an additional 13,137,968 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Chris Kondo sold 4,486 shares of the company's 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 directly owned 15,533 shares of the company's stock, valued at $3,233,815.27. This represents a 22.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is currently owned by insiders.

Apple Stock Performance

NASDAQ AAPL traded up $0.76 during mid-day trading on Thursday, reaching $214.91. 14,460,362 shares of the stock were exchanged, compared to its average volume of 56,633,410. The business's 50 day moving average is $204.67 and its 200-day moving average is $215.18. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The company has a market capitalization of $3.21 trillion, a P/E ratio of 33.45, a P/E/G ratio of 2.40 and a beta of 1.20. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $94.04 billion. During the same period last year, the firm posted $1.53 earnings per share. 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 has approved a stock repurchase program on Thursday, May 1st that permits the company to buyback $100.00 billion in 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 leadership believes its stock is undervalued.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, May 12th. This is a boost from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.48%. Apple's dividend payout ratio (DPR) is currently 16.20%.

Analyst Ratings Changes

AAPL has been the subject of several research reports. Rosenblatt Securities cut shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 price target for the company. in a research report on Friday, May 2nd. DA Davidson upped their price target on shares of Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. TD Cowen lowered their price target on shares of Apple from $290.00 to $275.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. China Renaissance assumed coverage on shares of Apple in a research report on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 price target for the company. Finally, UBS Group reiterated a "hold" rating on shares of Apple in a research note on Friday, July 18th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Apple currently has an average rating of "Moderate Buy" and an average price target of $235.11.

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.