Nemes Rush Group LLC Grows Stock Position in Apple Inc. (NASDAQ:AAPL)

Nemes Rush Group LLC boosted its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 2.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 205,967 shares of the iPhone maker's stock after acquiring an additional 5,014 shares during the quarter. Apple accounts for about 6.4% of Nemes Rush Group LLC's investment portfolio, making the stock its 2nd largest position. Nemes Rush Group LLC's holdings in Apple were worth $51,578,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Apple in the 4th quarter valued at $46,868,648,000. State Street Corp boosted its holdings in Apple by 10.6% during the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock valued at $136,074,372,000 after acquiring an additional 55,935,105 shares during the period. Vanguard Group Inc. boosted its holdings in Apple by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock valued at $349,532,608,000 after acquiring an additional 49,168,843 shares during the period. Proficio Capital Partners LLC grew its position 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 worth $5,272,653,000 after acquiring an additional 20,966,232 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Apple by 6.5% in the 3rd 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. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Stock Up 0.6%

NASDAQ:AAPL traded up $1.22 during trading hours on Tuesday, reaching $202.67. 52,015,754 shares of the company traded hands, compared to its average volume of 56,214,415. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The business's 50-day moving average price is $200.72 and its two-hundred day moving average price is $223.92. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The stock has a market capitalization of $3.03 trillion, a P/E ratio of 32.17, a P/E/G ratio of 2.44 and a beta of 1.22.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.03. The firm had revenue of $95.36 billion during the quarter, compared to the consensus estimate 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 last year, the company earned $1.53 earnings per share. Analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were issued a $0.26 dividend. The ex-dividend date was Monday, May 12th. This is a boost from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.51%. Apple's payout ratio is 16.20%.

Apple declared that its board has initiated a stock buyback plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of analyst reports. Monness Crespi & Hardt increased their price objective on Apple to $245.00 and gave the company a "buy" rating in a research note on Tuesday. Scotiabank cut shares of Apple to a "market perform" rating in a research report on Friday, May 2nd. Raymond James decreased their price objective on shares of Apple from $250.00 to $230.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Morgan Stanley reaffirmed an "overweight" rating and set a $235.00 price objective on shares of Apple in a research note on Thursday, June 5th. Finally, Rosenblatt Securities lowered shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 target price for the company. in a report on Friday, May 2nd. Four investment analysts have rated the stock with a sell rating, eleven have assigned 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.com, Apple has a consensus rating of "Moderate Buy" and a consensus price target of $234.86.

Insiders Place Their Bets

In other Apple news, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the sale, the chief executive officer now directly owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This trade represents a 3.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the completion of the sale, the chief financial officer now directly owns 4,569 shares of the company's stock, valued at approximately $941,214. The trade was a 50.01% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,507 shares of company stock valued at $42,694,080. Insiders own 0.06% of the company's stock.

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.