Martin Worley Group Has $1.12 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Key Points

• Martin Worley Group reduced its stake in Apple Inc. by 22.2% in Q1, selling 1,439 shares, and ended the period with 5,053 shares valued at approximately $1,122,000.
• Apple announced a quarterly dividend increase to $0.26 per share and has initiated a $100 billion share buyback program, reflecting confidence in its stock valuation.
• Analysts have a general positive outlook on Apple, with the average price target at $234.94 and multiple ratings of "buy" or "outperform" from several firms.

Martin Worley Group decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 22.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,053 shares of the iPhone maker's stock after selling 1,439 shares during the period. Martin Worley Group's holdings in Apple were worth $1,122,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in AAPL. Vanguard Group Inc. raised its holdings in shares of Apple by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock valued at $349,532,608,000 after purchasing an additional 49,168,843 shares during the last quarter. Geode Capital Management LLC increased its stake in Apple by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker's stock valued at $84,999,145,000 after buying an additional 6,307,413 shares during the last quarter. Norges Bank bought a new position in shares of Apple during the 4th quarter worth approximately $46,868,648,000. Northern Trust Corp grew its holdings in shares of Apple by 13.3% in the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after acquiring an additional 20,079,472 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Apple by 14.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker's stock worth $26,220,566,000 after acquiring an additional 13,137,968 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Stock Performance

Shares of NASDAQ:AAPL traded down $0.23 during trading on Thursday, hitting $208.82. 13,029,085 shares of the company traded hands, compared to its average volume of 56,191,012. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The stock has a market capitalization of $3.12 trillion, a price-to-earnings ratio of 32.53, a PEG ratio of 2.32 and a beta of 1.20. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. The business's fifty day moving average is $205.10 and its 200-day moving average is $214.16.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly 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 firm 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 167.24%. Apple's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.53 earnings per share. As a group, equities analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple declared that its Board of Directors has approved a stock repurchase program on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 4,486 shares of the firm'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 transaction, the insider directly owned 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Bank of America restated a "buy" rating and set a $235.00 price objective on shares of Apple in a report on Tuesday, June 10th. Scotiabank cut Apple to a "market perform" rating in a research report on Friday, May 2nd. KeyCorp raised Apple from an "underweight" rating to a "sector weight" rating in a report on Monday, April 14th. UBS Group reaffirmed a "hold" rating on shares of Apple in a report on Friday, July 18th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Apple in a research note on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $234.94.

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.