Apple Inc. (NASDAQ:AAPL) is NavPoint Financial Inc.'s 7th Largest Position

NavPoint Financial Inc. grew its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 7.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,197 shares of the iPhone maker's stock after acquiring an additional 2,537 shares during the period. Apple comprises approximately 5.8% of NavPoint Financial Inc.'s holdings, making the stock its 7th biggest position. NavPoint Financial Inc.'s holdings in Apple were worth $8,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in AAPL. Drystone LLC acquired a new position in Apple during the 4th quarter worth $25,000. Life Planning Partners Inc acquired a new position in Apple during the 4th quarter worth $47,000. Conquis Financial LLC acquired a new position in Apple during the 4th quarter worth $63,000. LSV Asset Management acquired a new position in Apple during the 4th quarter worth $65,000. Finally, Pillar Financial Advisors LLC bought a new position in shares of Apple in the 4th quarter worth about $82,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Kevan Parekh sold 4,570 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the sale, the chief financial officer owned 4,569 shares in the company, valued at $941,214. The trade was a 50.01% 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 the SEC website. Also, insider Chris Kondo sold 4,486 shares of the stock in a transaction that occurred 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 completion of the sale, the insider owned 15,533 shares of the company's stock, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

Apple Price Performance

AAPL stock traded up $0.02 on Wednesday, hitting $210.03. 4,254,040 shares of the company's stock traded hands, compared to its average volume of 57,502,129. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The stock has a market cap of $3.14 trillion, a price-to-earnings ratio of 32.71, a P/E/G ratio of 2.34 and a beta of 1.20. The stock has a fifty day moving average of $203.32 and a 200-day moving average of $218.08. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18.

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 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 business had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. During the same period in the prior year, the business earned $1.53 earnings per share. The business's quarterly revenue was up 5.1% on a year-over-year basis. On average, analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple announced that its board has initiated a share repurchase program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

Apple Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.50%. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is currently 16.20%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on AAPL shares. UBS Group set a $210.00 price target on shares of Apple and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. Evercore ISI raised their price target on shares of Apple to $250.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. TD Cowen reduced their price target on shares of Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. DA Davidson raised their price target on shares of Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Finally, Rosenblatt Securities downgraded shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 price target on the stock. in a research report on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and an average target price of $234.95.

Apple 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.