Lighthouse Financial LLC purchased a new stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 11,754 shares of the iPhone maker's stock, valued at approximately $2,943,000. Apple accounts for about 2.4% of Lighthouse Financial LLC's portfolio, making the stock its 12th largest position.
A number of other hedge funds and other institutional investors also recently modified their holdings of AAPL. Anchor Pointe Wealth Management LLC acquired a new position in shares of Apple during the 4th quarter worth approximately $3,269,000. SpringVest Wealth Management LLC acquired a new position in shares of Apple during the 4th quarter worth approximately $1,533,000. Old North State Trust LLC raised its position in shares of Apple by 23.9% during the 4th quarter. Old North State Trust LLC now owns 54,348 shares of the iPhone maker's stock worth $13,610,000 after purchasing an additional 10,494 shares during the last quarter. Mattson Financial Services LLC raised its position in shares of Apple by 0.5% during the 4th quarter. Mattson Financial Services LLC now owns 34,955 shares of the iPhone maker's stock worth $8,145,000 after purchasing an additional 188 shares during the last quarter. Finally, Alpha Wealth Funds LLC acquired a new position in shares of Apple during the 4th quarter worth approximately $3,366,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.
Apple Trading Down 0.3%
Shares of NASDAQ AAPL traded down $0.56 during trading on Thursday, hitting $201.00. 50,634,151 shares of the company traded hands, compared to its average volume of 53,383,626. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The company has a 50-day moving average price of $202.44 and a 200-day moving average price of $220.85. The firm has a market capitalization of $3.00 trillion, a P/E ratio of 31.31, a P/E/G ratio of 2.25 and a beta of 1.22. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18.
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 (EPS) for the quarter, beating 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 company had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. During the same period in the previous year, the company earned $1.53 EPS. The business's quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities analysts predict that Apple Inc. will post 7.28 EPS for the current year.
Apple Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.52%. This is a boost from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. Apple's dividend payout ratio is 16.20%.
Apple announced that its Board of Directors has authorized a share repurchase program on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.
Analyst Ratings Changes
Several research analysts recently issued reports on AAPL shares. Raymond James Financial cut their price objective on Apple from $250.00 to $230.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. China Renaissance started coverage on Apple in a research report on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price objective for the company. Morgan Stanley restated an "overweight" rating on shares of Apple in a research report on Friday, June 13th. Needham & Company LLC restated a "hold" rating on shares of Apple in a research report on Tuesday, June 10th. Finally, Bank of America restated a "buy" rating and set a $235.00 price objective on shares of Apple in a research report on Tuesday, June 10th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $234.39.
Read Our Latest Stock Report on AAPL
Insider Buying and Selling
In related news, SVP Katherine L. Adams sold 38,822 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the completion of the sale, the senior vice president now directly owns 179,158 shares of the company's stock, valued at approximately $40,072,269.86. This represents a 17.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 191,507 shares of company stock valued at $42,694,080. Company insiders own 0.06% of the company's stock.
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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