Jordan Park Trust Co LLC purchased a new position in Apple Inc. (NASDAQ:AAPL - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,334 shares of the iPhone maker's stock, valued at approximately $584,000. Apple accounts for approximately 0.5% of Jordan Park Trust Co LLC's investment portfolio, making the stock its 5th biggest holding.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp raised its position in Apple by 10.6% in the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock worth $136,074,372,000 after purchasing an additional 55,935,105 shares during the period. Proficio Capital Partners LLC boosted its holdings in Apple by 23,555.4% during the 4th quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock valued at $5,272,653,000 after acquiring an additional 20,966,232 shares during the period. Geode Capital Management LLC increased its stake in Apple by 6.5% in the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock worth $77,542,863,000 after purchasing an additional 20,483,787 shares during the period. FMR LLC grew its holdings in shares of Apple by 5.3% in the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock worth $84,779,231,000 after purchasing an additional 18,224,005 shares during the last quarter. Finally, Strategic Financial Concepts LLC increased its stake in Apple by 25,285.2% in the 4th quarter. Strategic Financial Concepts LLC now owns 9,628,864 shares of the iPhone maker's stock worth $2,411,260,000 after buying an additional 9,590,933 shares during the period. 67.73% of the stock is currently owned by institutional investors.
Apple Trading Down 1.2%
Shares of Apple stock traded down $2.48 during mid-day trading on Monday, hitting $208.78. The stock had a trading volume of 45,304,005 shares, compared to its average volume of 55,954,362. The firm has a 50-day moving average of $206.09 and a two-hundred day moving average of $226.67. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The firm has a market cap of $3.12 trillion, a P/E ratio of 33.14, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10.
Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. The business had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%. The company's revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.53 earnings per share. Sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.
Apple announced that its board has approved a stock buyback plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are 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 issued a dividend of $0.26 per share. This is an increase from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. This represents a $1.04 annualized dividend and a yield of 0.50%. Apple's dividend payout ratio is 16.20%.
Insider Activity at Apple
In other news, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction that occurred on 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 directly owns 3,280,295 shares of the company's stock, valued at approximately $733,637,976.75. This represents a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the transaction, the chief operating officer now directly owns 390,059 shares in the company, valued at $87,377,116.59. The trade was a 8.34% 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 90 days. 0.06% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on the company. Morgan Stanley reissued an "overweight" rating on shares of Apple in a research report on Monday, May 12th. DA Davidson raised their price objective on Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. The Goldman Sachs Group dropped their target price on shares of Apple from $259.00 to $256.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Monness Crespi & Hardt dropped their target price on Apple from $260.00 to $245.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Finally, Jefferies Financial Group reaffirmed 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. 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $235.80.
Read Our Latest Stock Analysis on AAPL
Apple Company Profile
(
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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