Integras Partners LLC bought a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,554 shares of the iPhone maker's stock, valued at approximately $890,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of AAPL. O Connor Financial Group LLC boosted its holdings in shares of Apple by 1.2% during the 4th quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker's stock worth $896,000 after buying an additional 41 shares in the last quarter. Menard Financial Group LLC boosted its holdings in shares of Apple by 0.4% during the 3rd quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker's stock worth $2,848,000 after buying an additional 48 shares in the last quarter. Hanseatic Management Services Inc. boosted its holdings in shares of Apple by 1.3% during the 4th quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker's stock worth $945,000 after buying an additional 48 shares in the last quarter. Family Capital Management Inc. boosted its holdings in shares of Apple by 0.3% during the 4th quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock worth $4,235,000 after buying an additional 48 shares in the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in shares of Apple by 0.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock worth $4,178,000 after buying an additional 48 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.
Insider Buying and Selling
In related news, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the sale, the chief executive officer now owns 3,280,295 shares of the company's stock, valued at approximately $733,637,976.75. This trade represents a 3.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction dated 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 trade represents a 22.41% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 191,507 shares of company stock valued at $42,694,080. 0.06% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the company. DA Davidson increased their price target on Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Barclays lowered their target price on Apple from $197.00 to $173.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 30th. Needham & Company LLC reaffirmed a "buy" rating and set a $225.00 target price on shares of Apple in a research report on Friday, May 2nd. Citigroup reaffirmed a "cautious" rating on shares of Apple in a research report on Monday, May 5th. Finally, Loop Capital lowered their target price on Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $235.80.
View Our Latest Analysis on AAPL
Apple Trading Down 3.0%
Shares of Apple stock opened at $195.27 on Friday. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The firm has a market cap of $2.92 trillion, a PE ratio of 31.00, a P/E/G ratio of 2.44 and a beta of 1.27. The stock has a fifty day moving average price of $205.04 and a 200-day moving average price of $225.92. 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 (NASDAQ:AAPL - Get Free Report) last announced 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. Apple had a return on equity of 160.83% and a net margin of 24.30%. The company had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. During the same quarter last year, the firm posted $1.53 EPS. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. Equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.
Apple announced that its Board of Directors has authorized a stock repurchase program on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board believes its stock is undervalued.
Apple Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 annualized dividend and a yield of 0.53%. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio (DPR) is 16.20%.
Apple Company Profile
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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.
Further Reading
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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