Nestegg Advisors Inc. Makes New Investment in Apple Inc. (NASDAQ:AAPL)

Nestegg Advisors Inc. purchased a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 14,534 shares of the iPhone maker's stock, valued at approximately $3,341,000. Apple accounts for approximately 3.4% of Nestegg Advisors Inc.'s holdings, making the stock its 9th largest holding.

Several other institutional investors have also made changes to their positions in AAPL. Drystone LLC bought a new stake in Apple during the fourth quarter worth $25,000. Life Planning Partners Inc bought a new stake in Apple during the fourth quarter worth $47,000. Conquis Financial LLC bought a new stake in Apple during the fourth quarter worth $63,000. LSV Asset Management bought a new stake in Apple during the fourth quarter worth $65,000. Finally, Pillar Financial Advisors LLC bought a new stake in Apple during the fourth quarter worth $82,000. 67.73% of the stock is currently owned by institutional investors.

Apple Stock Performance

AAPL stock traded down $1.20 during midday trading on Tuesday, hitting $200.30. The company's stock had a trading volume of 53,951,325 shares, compared to its average volume of 53,512,318. The stock's 50-day moving average price is $202.33 and its 200 day moving average price is $221.12. 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 Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The stock has a market cap of $2.99 trillion, a price-to-earnings ratio of 31.20, a PEG ratio of 2.25 and a beta of 1.22.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.03. Apple had a return on equity of 167.24% and a net margin of 24.30%. The business had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. During the same quarter in the previous year, the firm earned $1.53 earnings per share. The business's revenue was up 5.1% on a year-over-year basis. On average, equities analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple announced that its board has initiated a share repurchase 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 repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is 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 given 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 dividend payout ratio is currently 16.20%.

Insider Activity

In related news, insider Chris Kondo sold 4,486 shares of the business'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 in the company, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 108,136 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total value of $24,184,616.40. Following the sale, the chief executive officer now owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. The trade was a 3.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,507 shares of company stock valued at $42,694,080 in the last 90 days. Insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

AAPL has been the topic of several recent research reports. KeyCorp raised Apple from an "underweight" rating to a "sector weight" rating in a report on Monday, April 14th. Bank of America reiterated a "buy" rating and issued a $235.00 target price on shares of Apple in a research report on Tuesday, June 10th. TD Cowen reduced their price target on Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Loop Capital lowered their price objective on Apple from $230.00 to $215.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. Finally, Raymond James Financial cut their target price 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. Three 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. According to data from MarketBeat.com, Apple presently has an average rating of "Moderate Buy" and an average price target of $234.86.

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.