Hippocratic Financial Advisors LLC Makes New $349,000 Investment in Apple Inc. (NASDAQ:AAPL)

Hippocratic Financial Advisors LLC purchased a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,395 shares of the iPhone maker's stock, valued at approximately $349,000. Apple comprises approximately 0.2% of Hippocratic Financial Advisors LLC's investment portfolio, making the stock its 14th largest holding.

A number of other institutional investors also recently modified their holdings of AAPL. O Connor Financial Group LLC raised its position in Apple by 1.2% in the 4th quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker's stock valued at $896,000 after buying an additional 41 shares during the last quarter. Menard Financial Group LLC grew its stake in shares of Apple by 0.4% in the 3rd quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker's stock worth $2,848,000 after acquiring an additional 48 shares in the last quarter. Hanseatic Management Services Inc. raised its holdings in shares of Apple by 1.3% in the fourth quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker's stock valued at $945,000 after purchasing an additional 48 shares during the last quarter. Family Capital Management Inc. lifted its position in shares of Apple by 0.3% during the fourth quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock valued at $4,235,000 after purchasing an additional 48 shares in the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA lifted its position in shares of Apple by 0.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock valued at $4,178,000 after purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Evercore ISI increased their price objective on shares of Apple to $250.00 and gave the company a "buy" rating in a research note on Friday. JPMorgan Chase & Co. reduced their target price 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. Bank of America decreased their price objective on Apple from $250.00 to $240.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Morgan Stanley reissued an "overweight" rating and set a $235.00 target price on shares of Apple in a report on Thursday. Finally, UBS Group reissued a "buy" rating on shares of Apple in a report on Sunday, June 1st. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $235.02.

Insider Activity

In related news, CEO Timothy D. Cook sold 108,136 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total value 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey E. Williams sold 35,493 shares of the business's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the transaction, the chief operating officer now owns 390,059 shares of the company's stock, valued at $87,377,116.59. This represents a 8.34% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 191,507 shares of company stock valued at $42,694,080. Corporate insiders own 0.06% of the company's stock.

Apple Trading Up 1.6%

Apple stock traded up $3.29 during trading hours on Friday, reaching $203.92. The company had a trading volume of 46,477,335 shares, compared to its average volume of 56,154,463. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The company has a 50-day moving average price of $201.17 and a 200 day moving average price of $224.15. The firm has a market cap of $3.05 trillion, a price-to-earnings ratio of 32.37, a P/E/G ratio of 2.44 and a beta of 1.22.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS 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 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 revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.53 earnings per share. Equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio is currently 16.20%.

Apple declared that its board has authorized a stock 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 repurchase up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its shares are undervalued.

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.