Haven Capital Group Inc. Invests $11.74 Million in Apple Inc. (NASDAQ:AAPL)

Haven Capital Group Inc. acquired a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 46,867 shares of the iPhone maker's stock, valued at approximately $11,736,000. Apple comprises about 11.0% of Haven Capital Group Inc.'s portfolio, making the stock its 2nd biggest holding.

A number of other hedge funds have also recently bought and sold shares of the company. Cadence Wealth Management LLC boosted its holdings in Apple by 18.9% during the 4th quarter. Cadence Wealth Management LLC now owns 2,886 shares of the iPhone maker's stock worth $723,000 after acquiring an additional 458 shares during the last quarter. BlackDiamond Wealth Management LLC boosted its holdings in shares of Apple by 3.6% in the 4th quarter. BlackDiamond Wealth Management LLC now owns 22,261 shares of the iPhone maker's stock worth $5,575,000 after buying an additional 768 shares during the last quarter. Primecap Management Co. CA boosted its holdings in shares of Apple by 0.4% in the 4th quarter. Primecap Management Co. CA now owns 2,270,500 shares of the iPhone maker's stock worth $568,579,000 after buying an additional 10,000 shares during the last quarter. Aspen Wealth Strategies LLC boosted its holdings in shares of Apple by 0.6% in the 4th quarter. Aspen Wealth Strategies LLC now owns 16,073 shares of the iPhone maker's stock worth $4,025,000 after buying an additional 97 shares during the last quarter. Finally, Wrenne Financial Planning LLC boosted its holdings in shares of Apple by 26.9% in the 4th quarter. Wrenne Financial Planning LLC now owns 16,367 shares of the iPhone maker's stock worth $4,099,000 after buying an additional 3,470 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AAPL. Jefferies Financial Group reissued an "underperform" rating and issued a $170.62 price target (up from $167.88) on shares of Apple in a report on Friday, May 2nd. JPMorgan Chase & Co. cut their price target on shares of Apple from $270.00 to $245.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. KeyCorp raised shares of Apple from an "underweight" rating to a "sector weight" rating in a report on Monday, April 14th. Morgan Stanley reissued an "overweight" rating on shares of Apple in a report on Monday, May 12th. Finally, UBS Group lowered their price objective on Apple from $236.00 to $210.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $235.80.

Apple Price Performance

Shares of AAPL traded down $0.47 during midday trading on Thursday, hitting $199.95. 51,367,725 shares of the company traded hands, compared to its average volume of 56,208,923. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The stock has a 50-day moving average of $204.01 and a 200-day moving average of $225.36. The firm has a market cap of $2.99 trillion, a P/E ratio of 31.74, a PEG ratio of 2.44 and a beta of 1.27. 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 posted its quarterly earnings data 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. The company had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. Apple's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.53 earnings per share. As a group, sell-side analysts predict 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. Investors of record on Monday, May 12th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. This is a boost from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. Apple's dividend payout ratio is 16.20%.

Apple announced that its Board of Directors has initiated a stock buyback program on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Apple news, SVP Katherine L. Adams sold 38,822 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total value of $8,683,316.74. Following the completion of the sale, the senior vice president now owns 179,158 shares of the company's stock, valued at $40,072,269.86. This represents a 17.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $933,940.34. Following the completion of the sale, the insider now directly owns 15,533 shares of the company's stock, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 191,507 shares of company stock worth $42,694,080. Insiders own 0.06% of the company's stock.

Apple 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.