MassMutual Private Wealth & Trust FSB trimmed its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 705,114 shares of the iPhone maker's stock after selling 28,963 shares during the period. Apple comprises about 4.5% of MassMutual Private Wealth & Trust FSB's investment portfolio, making the stock its biggest position. MassMutual Private Wealth & Trust FSB's holdings in Apple were worth $156,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Advanced Portfolio Management LLC grew its position in Apple by 0.3% in the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock worth $3,260,000 after acquiring an additional 47 shares in the last quarter. Hanseatic Management Services Inc. boosted its holdings in shares of Apple by 1.3% in the 4th quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker's stock worth $945,000 after purchasing an additional 48 shares in the last quarter. Family Capital Management Inc. raised 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 valued at $4,235,000 after buying an additional 48 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in Apple by 0.3% in 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 during the last quarter. Finally, Scarborough Advisors LLC grew its position in Apple by 0.3% during the fourth quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker's stock valued at $3,992,000 after acquiring an additional 51 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other news, insider Chris Kondo sold 4,486 shares of the stock in a transaction 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 sale, the insider now directly owns 15,533 shares of the company's stock, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jeffrey E. Williams sold 35,493 shares of the firm's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total value of $7,950,786.93. Following the transaction, the chief operating officer now owns 390,059 shares of the company's stock, 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. In the last 90 days, insiders have sold 191,507 shares of company stock worth $42,694,080. Corporate insiders own 0.06% of the company's stock.
Apple Stock Performance
Apple stock opened at $201.50 on Tuesday. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The stock's 50 day simple moving average is $202.33 and its two-hundred day simple moving average is $221.12. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. The stock has a market cap of $3.01 trillion, a price-to-earnings ratio of 31.39, a PEG ratio of 2.24 and a beta of 1.22.
Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. The company had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.53 EPS. As a group, analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple declared that its Board of Directors 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 stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.
Apple Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders 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 0.52%. The ex-dividend date was Monday, May 12th. This is a boost from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is 16.20%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on AAPL. JPMorgan Chase & Co. cut their price objective on shares of Apple from $270.00 to $245.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Bank of America restated a "buy" rating and set a $235.00 price target on shares of Apple in a research report on Tuesday, June 10th. DA Davidson raised their price objective on Apple from $230.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Citigroup reissued a "buy" rating on shares of Apple in a research note on Tuesday, June 10th. Finally, Needham & Company LLC restated a "hold" rating 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 given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $234.86.
Read Our Latest Analysis on Apple
About Apple
(
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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